Monitor Phase 3 MAPKeeper 301 enrollment updates and any interim data readouts, as the 17.3-month mOS from Phase 2a sets a high bar. The $182.7M cash runway into 2029 removes near-term financing risk, but the widening net loss and accelerating R&D spend warrant attention to trial execution milestones.
Price Chart
Executive Summary
Immuneering reported Q2 2026 results with a net loss of $17.3M ($0.27/share), widening from $14.4M ($0.40/share) in Q2 2025, driven by increased R&D spending on the Phase 3 MAPKeeper 301 trial. Cash burn accelerated to $34.3M in H1 2026 vs $30.2M in H1 2025, though the company maintains $182.7M in cash with runway into 2029. The key catalyst is the ongoing Phase 3 enrollment and the 17.3-month median overall survival data from the Phase 2a presented at ASCO, positioning atebimetinib as a potentially best-in-class first-line pancreatic cancer therapy.
Key Financial Metrics
Key Facts
- Net loss of $17.3M ($0.27/share) for Q2 2026 vs $14.4M ($0.40/share) in Q2 2025
- Cash, cash equivalents and marketable securities of $182.7M as of June 30, 2026, down from $217.0M at Dec 31, 2025
- Phase 3 MAPKeeper 301 trial dosing patients with over 30 study locations posted
- 17.3-month median overall survival reported at ASCO in 55 first-line pancreatic cancer patients
- R&D expenses increased to $14.0M in Q2 2026 from $10.5M in Q2 2025 due to atebimetinib program costs
- Appointed Andrew Gengos as CFO, previously CFO of Terns Pharmaceuticals acquired by Merck for $6.7B
Financial Impact
Net loss widened by $2.9M YoY to $17.3M; cash burn of $34.3M in H1 2026 vs $30.2M in H1 2025
Risk Factors
- Phase 3 MAPKeeper 301 trial may fail to replicate Phase 2a survival benefit in a randomized setting
- Cash burn rate is accelerating (H1 2026 operating expenses $34.3M vs $30.2M H1 2025), potentially shortening runway if enrollment delays occur
- No revenue and no approved products; stock is entirely dependent on clinical trial outcomes
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001790340-26-000088 |
| Document: imrx-20260805.htm | 0001790340-26-000088 |
| Document: 0001790340-26-000088-index-headers.html | 0001790340-26-000088 |
| Document: 0001790340-26-000088-index.html | 0001790340-26-000088 |
| Document: 0001790340-26-000088.txt | 0001790340-26-000088 |
| 8-K Data (Synthetic) | 0001790340-26-000088 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | Press Release | $3.71 $3.83 | ▲ +3.23% | ▲ +2.67% | $3.83 (+3.23%) |
Oct 2, 2026 25d ago | Press Release | $4.07 $4.04 | ▼ −0.74% | ▼ −1.41% | $3.83 (−5.90%) |
Sep 28, 2026 29d ago | Press Release | $4.16 $4.13 | ▼ −0.72% | ▼ −0.54% | $3.83 (−7.93%) |
Aug 26, 2026 8w ago | Press Release | $5.21 $4.99 | ▼ −4.22% | ▼ −4.00% | $3.83 (−26.49%) |
Aug 5, 2026 11w ago | 8-K | $4.39 $4.46 | ▲ +1.59% | ▲ +1.75% | $3.83 (−12.76%) |
Aug 5, 2026 11w ago | Press Release | $4.39 $4.46 | ▲ +1.59% | ▲ +1.75% | $3.83 (−12.76%) |
Jun 11, 2026 19w ago | Institutional Cluster | $4.12 $4.19 | ▲ +1.70% | ▲ +1.16% | $3.83 (−7.04%) |
Jun 1, 2026 21w ago | 8-K | $4.28 $4.55 | ▲ +6.31% | ▲ +7.00% | $3.83 (−10.51%) |
May 15, 2026 23w ago | Press Release | $5.16 $4.87 | ▼ −5.62% | ▼ −5.56% | $3.83 (−25.78%) |
Apr 21, 2026 27w ago | Press Release | $5.89 $6.13 | ▲ +4.07% | ▲ +4.47% | $3.83 (−34.97%) |
US Market Status
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