Immuneering Reports Third Quarter 2026 Financial Results and Provides Business Updates

Updated funding guidance incorporates longer Phase 2 follow-up, expanded Phase 3 enrollment and commercial readiness activities.

Rhea-AI Summary

Immuneering (IMRX) reported third-quarter 2026 results and extended follow-up in its Phase 2 pancreatic cancer trial, with updated data expected in first-half 2027. The company said patients are living longer than projected; the atebimetinib plus modified gemcitabine/nab-paclitaxel arm includes 55 patients. Phase 3 MAPKeeper 301 enrollment is ahead of schedule, enabling expansion from 510 to approximately 570 patients and potentially accelerating the current mid-2028 topline readout.

Third-quarter net loss was $24.2 million, versus $15.0 million a year earlier, while loss per share narrowed to $0.37 from $0.38. Research and development expenses rose to $20.7 million from $10.9 million. Cash, cash equivalents and marketable securities totaled $166.1 million at September 30, versus $217.0 million at year-end 2025. Immuneering expects funding to support operations into fourth-quarter 2028.

11 points · 0 major

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0 major · 7 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.MAPKeeper 301 enrollment is ahead of schedule, potentially accelerating the current mid-2028 topline readout.
• Moderate pointPhase 2 follow-up extension reflects patients living longer than projected, Immuneering said.
• Moderate pointPreviously reported Phase 2 median overall survival was 17.3 months.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Immuneering expects cash to fund operations into fourth-quarter 2028 under current operating plans.
• Minor pointPhase 3 enrollment target expands from 510 to approximately 570 patients.

6 minor points

• Minor pointStable or increased weight was twice as common in the pancreatic combination trial versus a benchmark study.
• Minor pointPatients with stable or increased weight at three months had significantly longer survival than those losing weight.
• Minor point. Forward-looking: it has not happened yet and may not happen.Lung cancer Phase 2 first-patient dosing is planned for fourth-quarter 2026, with preliminary data expected late-2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.Next candidate studies supporting an investigational new drug application are planned for mid-2027.
• Minor pointThird-quarter interest income rose to $1,204,598 from $415,831 a year earlier.
• Minor pointNine-month interest income rose to $3,647,786 from $1,178,362 a year earlier.

Negative

• Moderate pointCash, cash equivalents and marketable securities fell to $166.1 million from $217.0 million at year-end 2025.
• Moderate pointThird-quarter net loss widened to $24.2 million from $15.0 million; loss per share narrowed to $0.37 from $0.38.
• Minor pointThird-quarter research and development expenses increased to $20.7 million from $10.9 million a year earlier.
• Minor pointThird-quarter general and administrative expenses increased to $5.1 million from $4.5 million a year earlier.
• Minor pointNine-month net loss widened to $54,923,905 from $44,444,888; loss per share narrowed to $0.85 from $1.20.

2 minor points

• Minor pointNine-month research and development expenses increased to $45,363,112 from $32,793,835 a year earlier.
• Minor pointNine-month general and administrative expenses increased to $14,738,398 from $12,807,465 a year earlier.

Key Figures

Phase 2 data update: N=55 Phase 3 enrollment target: Approximately 570 patients, increased from 510 Median overall survival: 17.3 months +5 more

Phase 2 data update

N=55

Atebimetinib + mGnP pancreatic cancer data expected in the first half of 2027

Phase 3 enrollment target

Approximately 570 patients, increased from 510

MAPKeeper 301; enrollment reported ahead of schedule

Median overall survival

17.3 months

Previously reported at ASCO for atebimetinib; cited in the article

Cash, cash equivalents and marketable securities

$166.1 million, compared with $217.0 million

September 30, 2026 versus December 31, 2025

Cash runway

Into the fourth quarter of 2028

Company guidance based on September 30, 2026 liquidity and current operating plans

Third-quarter R&D expenses

$20.7 million, compared with $10.9 million

Third quarter 2026 versus third quarter 2025

Net loss attributable to common stockholders

$24.2 million, compared with $15.0 million

Third quarter 2026 versus third quarter 2025

Net loss per share

$0.37, compared with $0.38

Third quarter 2026 versus third quarter 2025

Previous Earnings Reports

1 past event · Latest: Aug 05

Same Type 1 event

1. Aug 05

   Quarterly earnings

   24h Move

   -0.2%

   Reported $182.7 million cash position and runway expected into 2029.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

overall survival, mek inhibitor, anti-pd-1, ind-enabling studies

4 terms

overall survival medical

"The 17.3 months median overall survival with excellent tolerability"

Overall survival is the average or median length of time patients remain alive after starting a treatment or entering a clinical study, measured regardless of cause of death. Investors care because it is a clear, hard measure of a therapy’s real-world benefit — like timing how long a new battery actually runs — and strong improvements in overall survival can drive regulatory approval, market adoption and revenue potential.

mek inhibitor medical

"as the First/Only Third Generation MEK Inhibitor"

A MEK inhibitor is a drug that blocks MEK enzymes, which act like a relay in a cell’s growth-signaling pathway; by cutting that relay these drugs can slow or stop uncontrolled cell growth seen in some cancers and other proliferative conditions. Investors care because clinical trial outcomes, safety data, and regulatory approvals determine whether a MEK inhibitor becomes a marketable therapy, directly affecting a developer’s revenue prospects and valuation — like a product passing a crucial safety and sales test.

anti-pd-1 medical

"atebimetinib in combination with anti-PD-1 in lung cancer"

Anti-PD-1 is a type of drug that blocks a protein called PD-1 on immune cells, effectively releasing the immune system’s “brakes” so it can better recognize and attack cancer cells. For investors, these drugs matter because they can produce durable responses in multiple cancers, drive large sales if approved, and influence valuations through trial results, regulatory decisions, partnerships and competition in the oncology market.

ind-enabling studies regulatory

"Begin IND-enabling studies for our next DCI product candidate program"

Ind-enabling studies are early research efforts that test whether a new drug or treatment is safe and effective enough to move forward in development. They are like preliminary tests to ensure a product works as intended before investing more resources into large-scale trials. For investors, these studies are important because successful results can signal potential progress toward bringing a new product to market, impacting its future value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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 - Phase 2 pancreatic cancer follow-up extended as patients on atebimetinib combinations live longer than projected -

- Updated Phase 2 atebimetinib + mGnP pancreatic cancer data (N=55) expected in the first half of 2027 -

- Phase 3 MAPKeeper 301 enrollment ahead of schedule; enrollment target expanding from 510 to 570 patients; potential to accelerate current mid-2028 topline data guidance -

NEW YORK, Oct. 29, 2026 (GLOBE NEWSWIRE) -- Immuneering Corporation (Nasdaq: IMRX), a late-stage clinical oncology company focused on keeping cancer patients alive and helping them thrive, today reported financial results for the third quarter ended September 30, 2026, and provided business updates.

“We are thrilled to share that follow-up in our Phase 2 trial in first-line pancreatic cancer is being extended because patients are living longer than projected. We now plan to provide an update on topline data from the atebimetinib + mGnP arm of that trial in the first half of 2027. We are also excited to report that enrollment in our pivotal Phase 3 MAPKeeper 301 trial is ahead of schedule. This strong momentum enables us to expand the enrollment target and potentially accelerate our expected mid-2028 topline data readout. We have updated our cash runway guidance to the fourth quarter of 2028 to reflect our Phase 2 extension, accelerated and expanded Phase 3 enrollment, and commercial readiness activities,” said Ben Zeskind, Ph.D., CEO of Immuneering. “We are seeing growing recognition within the medical community of atebimetinib’s differentiated mechanism of action as demonstrated by the strong engagement with our presentations at recent medical meetings, including the 2026 AACR Conference on Pancreatic Cancer and ESMO Congress 2026. The 17.3 months median overall survival with excellent tolerability that we reported at ASCO is unprecedented among agents targeting this pathway, and we are excited to share updated clinical data in the first half of 2027.”

Corporate Highlights

• Phase 2 Pancreatic Cancer Trial Extended; Topline Data Update Expected in 1H 2027. The Company plans to share further data from the mGnP arm of its Phase 2 PDAC trial (N = 55) in 1H 2027. Follow-up has been extended as patients are living longer than projected.
  
• Phase 3 MAPKeeper 301 Enrollment Updated. Enrollment is ahead of schedule for Immuneering’s Phase 3 MAPKeeper 301 trial, enabling the Company to expand the trial to approximately 570 patients and potentially accelerate its current mid-2028 topline data readout guidance.
  
• Publication in Cancer Research Detailed Atebimetinib’s Unique Attributes as the First/Only Third Generation MEK Inhibitor, Including Broad, Durable Preclinical Activity and Favorable Tolerability Across RAS- and RAF-Mutant Tumors via Deep Cyclic Inhibition. In October, atebimetinib was featured on the cover of Cancer Research in a paper entitled “Dual-MEK Inhibitor Atebimetinib Displays Broad Activity in RAS- and RAF-Mutant Tumors via Deep Cyclic Inhibition and Resisting RAF Bypass” and also described in a spotlight commentary entitled “MEKing Room: On the Quest for New Sources of Therapeutic Index in RAS/MAPK-Driven Cancers” both highlighting the Company’s publication in the same issue, which included data showing broad antitumor activity across KRAS-, NRAS-, and BRAF-mutant models, including colorectal, lung, and melanoma, by counteracting the RAF-mediated bypass signaling that has constrained other MEK inhibitors.
  
• Presented Data at the 2026 AACR Conference on Pancreatic Cancer Supporting Atebimetinib’s Mechanisms Designed to Extend Survival in Pancreatic Cancer. In September, the Company presented data showing that stable or increased weight was twice as common among pancreatic cancer patients in an atebimetinib + mGnP trial, compared to those in a benchmark study, and that patients with stable or increased weight at three months had significantly longer overall survival than patients who lost weight at three months.
  
• Presented MAPKeeper 301 Trial Design at ESMO Congress 2026. In October, Immuneering presented the design for its pivotal Phase 3 trial evaluating atebimetinib in combination with modified gemcitabine/nab-paclitaxel versus standard-of-care chemotherapy in first-line metastatic pancreatic cancer at ESMO.
  
  

Near-Term Milestone Expectations

Immuneering is planning for several near-term anticipated milestones, including:

• 4Q 2026 (SITC): Preclinical data for atebimetinib in combination with anti-PD-1 in lung cancer to be shared at the Society for Immunotherapy of Cancer (SITC) Annual Meeting.
• 4Q 2026: Dose the first patient in Phase 2 trial of atebimetinib + anti-PD-1 (cemiplimab) in lung cancer, with a preliminary data readout expected in late-2027.
• 1H 2027: Updated 1L PDAC Phase 2 atebimetinib + mGnP data (N=55).
• Mid-2027: Begin IND-enabling studies for our next DCI product candidate program.
• Late-2027: Preliminary data readout expected from Phase 2 trial of atebimetinib + anti-PD-1 (cemiplimab) in lung cancer.
• Mid-2028: Topline data readout from the MAPKeeper 301 trial.
  
  

Third Quarter 2026 Financial Highlights

Cash Position: Cash, cash equivalents and marketable securities as of September 30, 2026 were $166.1 million, compared with $217.0 million as of December 31, 2025.

Research and Development (R&D) Expenses: R&D expenses for the third quarter of 2026 were $20.7 million, compared with $10.9 million for the third quarter of 2025. The increase in R&D expenses was primarily attributable to higher clinical costs related to the Company’s lead program and increased personnel to support ongoing research and development activities.

General and Administrative (G&A) Expenses: G&A expenses for the third quarter of 2026 were $5.1 million, compared with $4.5 million for the third quarter of 2025. The increase in G&A expenses was primarily attributable to an increase in the Company’s stock-based compensation costs and employee-related costs in connection with general and administrative functions.

Net Loss: Net loss attributable to common stockholders was $24.2 million, or $0.37 per share, for the third quarter ended September 30, 2026, compared to $15.0 million, or $0.38 per share, for the third quarter ended September 30, 2025.

Financial Guidance

Based on cash, cash equivalents and marketable securities as of September 30, 2026, and current operating plans, the Company expects its cash runway to be sufficient to fund operations into the fourth quarter of 2028. The updated cash runway reflects the Phase 2 trial extension, accelerated and expanded Phase 3 enrollment, and commercial readiness activities.

About Immuneering Corporation

Immuneering is a late-stage clinical oncology company dedicated to keeping cancer patients alive and helping them thrive, with an initial focus on patients with RAS, RAF, and other MAPK-driven cancers. The Company is developing an entirely new category of cancer medicines, Deep Cyclic Inhibitors, designed to improve overall survival by three mechanisms: shrinking tumors durably with less resistance, preserving body mass by countering cachexia, and minimizing side effects to maximize performance status and combinability. Immuneering’s lead product candidate, atebimetinib, is an oral, once-daily Deep Cyclic Inhibitor of MEK, designed to improve survival across many cancer indications. The Company is conducting a global randomized pivotal trial, MAPKeeper 301, evaluating atebimetinib in combination with chemotherapy in first-line pancreatic cancer patients. The Company’s development pipeline also includes additional combination opportunities and preclinical stage programs. For more information, please visit www.immuneering.com.

Forward-Looking Statements

This press release contains forward-looking statements, including within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding: the treatment potential of atebimetinib, alone or in combination with other agents to treat cancer, including modified Gemcitabine/nab-paclitaxel (mGnP) in first-line pancreatic cancer and its potential to deliver overall survival with both durability and tolerability; expansion of the enrollment target enabling the Company to maintain or potentially accelerate the timing of the Phase 3 topline readout of the MAPKeeper 301 trial in mid-2028; the timing of a data update in the Phase 2a atebimetinib + mGnP trial in first-line pancreatic cancer; the timing of dosing and preliminary readout of the planned Phase 2 lung cancer trial; the timing of beginning IND-enabling studies in a second DCI program; our operating plans and anticipated cash runway, and the potential ability of the three design mechanisms of atebimetinib to shrink tumors durably, improve overall survival and overcome the limitations of conventional MAPK inhibition and provide a more sustained clinical benefit for patients.

These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: we are a late-stage clinical oncology company with a limited operating history and have not completed any registrational clinical trials; we have incurred significant losses, are not currently profitable and may never become profitable; limitations on our cash runway and potential increases in expenditures; our need for additional funding; our unproven approach to therapeutic intervention; our ability to address regulatory questions and changing regulatory standards, and the uncertainties relating to regulatory filings, reviews and approvals; the lengthy, expensive, and uncertain process of clinical drug development, including the uncertainty of whether positive preclinical or early clinical efficacy and safety results are confirmed in later-stage trials, potential delays in activation of trial sites or enrollment of trial participants, or failure to obtain regulatory approvals; our reliance on third parties and collaborators to conduct our clinical trials, manufacture our product candidates, and develop and commercialize our product candidates, if approved; failure to compete successfully against other drug companies; protection of our proprietary technology and the confidentiality of our trade secrets; potential lawsuits for, or claims of, infringement of third-party intellectual property or challenges to the ownership of our intellectual property; our patents being found invalid or unenforceable; costs and resources of operating as a public company; and unfavorable or no analyst research or reports.

These and other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the period ended September 30, 2026, and our other reports filed with the U.S. Securities and Exchange Commission, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investor Contact:
Laurence Watts
New Street Investor Relations
laurence@newstreetir.com

Media Contact:
David Caouette
dcaouette@immuneering.com

IMMUNEERING CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited)
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Operating expenses
Research and development	$	20,721,243			$	10,867,983			$	45,363,112			$	32,793,835
General and administrative		5,059,459				4,505,406				14,738,398				12,807,465
Amortization of intangible asset		7,317				7,317				21,950				21,950
Total operating expenses		25,788,019				15,380,706				60,123,460				45,623,250
Loss from operations		(25,788,019	)			(15,380,706	)			(60,123,460	)			(45,623,250	)
Other income (expense)
Interest income		1,204,598				415,831				3,647,786				1,178,362
Other income, net		390,838				—				1,551,769				—
Net loss	$	(24,192,583	)		$	(14,964,875	)		$	(54,923,905	)		$	(44,444,888	)
Net loss per share attributable to common stockholders, basic and diluted	$	(0.37	)		$	(0.38	)		$	(0.85	)		$	(1.20	)
Weighted-average common shares outstanding, basic and diluted		64,714,194				39,670,095				64,690,275				37,077,041
Other comprehensive loss:
Unrealized loss from marketable securities		(142,913	)			—				(630,485	)			—
Comprehensive Loss	$	(24,335,496	)		$	(14,964,875	)		$	(55,554,390	)		$	(44,444,888	)

IMMUNEERING CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
	September 30, 2026				December 31, 2025
Assets
Current assets:
Cash and cash equivalents	$	58,226,805			$	128,645,025
Marketable securities		87,178,645				44,186,244
Prepaids and other current assets		5,305,154				3,414,685
Total current assets		150,710,604				176,245,954
Marketable securities, non-current		20,712,253				44,183,186
Property and equipment, net		808,952				938,481
Goodwill		6,690,431				6,690,431
Intangible asset, net		299,197				321,147
Right-of-use assets		3,039,783				3,322,249
Other assets		299,827				283,562
Total assets	$	182,561,047			$	231,985,010
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	2,758,219			$	1,542,737
Accrued expenses		7,498,137				7,842,367
Other liabilities		89,419				291,513
Lease liabilities		445,496				397,104
Total current liabilities		10,791,271				10,073,721
Long-term liabilities:
Lease liabilities, net of current portion		3,089,079				3,427,321
Total liabilities		13,880,350				13,501,042
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized at September 30, 2026 and December 31, 2025; 0 shares issued or outstanding at September 30, 2026 and December 31, 2025		—				—
Class A common stock, $0.001 par value, 200,000,000 shares authorized at September 30, 2026 and December 31, 2025; 64,763,155 and 64,648,230 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively		64,763				64,648
Class B common stock, $0.001 par value, 20,000,000 shares authorized at September 30, 2026 and December 31, 2025; 0 shares issued and outstanding at September 30, 2026 and December 31, 2025		—				—
Additional paid-in capital		504,409,076				498,658,072
Accumulated other comprehensive income (loss)		(549,153	)			81,332
Accumulated deficit		(335,243,989	)			(280,320,084	)
Total stockholders' equity		168,680,697				218,483,968
Total liabilities and stockholders' equity	$	182,561,047			$	231,985,010

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When will Immuneering report updated Phase 2 pancreatic cancer data?

Immuneering expects updated data from the 55-patient atebimetinib plus modified gemcitabine/nab-paclitaxel arm in first-half 2027. Follow-up has been extended because, the company said, patients are living longer than projected.

When are Immuneering's MAPKeeper 301 Phase 3 results expected?

Current guidance calls for MAPKeeper 301 topline data in mid-2028, with potential acceleration as enrollment runs ahead of schedule. The enrollment target is expanding from 510 to approximately 570 patients.

What treatments does Immuneering's MAPKeeper 301 trial compare?

MAPKeeper 301 evaluates atebimetinib plus modified gemcitabine/nab-paclitaxel against standard-of-care chemotherapy in first-line metastatic pancreatic cancer. It is a global, randomized pivotal Phase 3 trial.

What caused Immuneering's third-quarter 2026 expenses to increase?

Higher clinical costs for the lead program and increased research personnel primarily drove the research and development expense increase. Higher stock-based compensation and employee-related costs for administrative functions primarily drove the increase in general and administrative expenses.

What lung cancer research updates does Immuneering plan for fourth-quarter 2026?

Immuneering plans to present preclinical atebimetinib plus anti-PD-1 data at the Society for Immunotherapy of Cancer annual meeting and dose the first patient in a Phase 2 trial combining atebimetinib with cemiplimab. Preliminary clinical data are expected in late-2027.