Immuneering (Nasdaq: IMRX) holds $182.7M cash, advances Phase 3 trial
Rhea-AI Filing Summary
Immuneering Corporation reported second-quarter 2026 results and progress across its oncology pipeline. In a single-arm Phase 2a study in first-line pancreatic cancer, atebimetinib plus modified gemcitabine/nab-paclitaxel showed a 17.3 month median overall survival in 55 patients, with 84% of evaluable patients weight stable or gaining at three months and limited high-grade treatment-related adverse events. A pivotal global Phase 3 MAPKeeper 301 trial in first-line metastatic pancreatic cancer is now dosing patients at more than 30 sites, supported by new peer-reviewed data in Cancer Research describing atebimetinib’s mechanism and preclinical activity.
Cash, cash equivalents and marketable securities totaled $182.7 million as of June 30, 2026, and the company expects its cash runway to extend into 2029. Second-quarter R&D expenses were $14.0 million and G&A expenses were $5.0 million. Net loss attributable to common stockholders was $17.3 million, or $0.27 per share. The company also appointed Andrew Gengos as Chief Financial Officer and outlined additional trials and preclinical milestones through 2028.
Positive
- Pivotal Phase 3 pancreatic cancer trial underway with atebimetinib plus mGnP in first-line metastatic patients at more than 30 global sites.
- $182.7 million in cash, cash equivalents and marketable securities with expected runway into 2029 supports planned clinical and preclinical programs.
Negative
- None.
Filing Explained
The quarter’s results are furnished, not filed, and are not automatically incorporated into other SEC filings.
This Form 8-K reports a specified material event: Immuneering furnished its second-quarter 2026 results and operating updates through Item 2.02 and Exhibit 99.1. The results and press release are furnished, not filed for Section 18 purposes, and are not incorporated by reference unless a later filing specifically does so.
The June 30, 2026 balance sheet shows
The balance sheet also reports
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Cash, cash equivalents and marketable securities: $182.7 million
Net loss Q2 2026: $17,270,427
Net loss per share Q2 2026: $0.27
+4 more
7 metrics
Cash, cash equivalents and marketable securities
$182.7 million
As of June 30, 2026; expected to fund operations into 2029
Net loss Q2 2026
$17,270,427
Net loss for the three months ended June 30, 2026
Net loss per share Q2 2026
$0.27
Basic and diluted net loss per share for the quarter ended June 30, 2026
R&D expenses Q2 2026
$13,996,647
Research and development expenses for the three months ended June 30, 2026
G&A expenses Q2 2026
$4,996,444
General and administrative expenses for the three months ended June 30, 2026
Total assets June 30, 2026
$202,055,327
Total assets on the condensed consolidated balance sheet as of June 30, 2026
Weighted-average shares Q2 2026
64,697,219
Weighted-average common shares outstanding, basic and diluted, for Q2 2026
Key Terms
Deep Cyclic Inhibitors, median overall survival, Phase 3 MAPKeeper 301, circulating tumor DNA (ctDNA), +1 more
5 terms
Deep Cyclic Inhibitors medical
"developing an entirely new category of cancer medicines, Deep Cyclic Inhibitors, designed"
median overall survival medical
"demonstrating 17.3 month median overall survival in 55 first-line pancreatic cancer patients"
Median overall survival is the middle point of how long patients live after starting treatment, meaning half live longer and half live shorter. It helps doctors understand how effective a treatment is and gives patients an idea of what to expect about their future.
Phase 3 MAPKeeper 301 medical
"pivotal Phase 3 MAPKeeper 301 trial of atebimetinib + mGnP in first-line pancreatic cancer"
circulating tumor DNA (ctDNA) medical
"The circulating tumor DNA (ctDNA) data from 123 atebimetinib-treated patients showed"
Circulating tumor DNA (ctDNA) are tiny fragments of genetic material shed by cancer cells into the bloodstream, detectable with a blood test often called a liquid biopsy. For investors, ctDNA matters because it can enable earlier, less invasive detection of cancer, track how well treatments are working, and guide drug development and diagnostic products—factors that can drive demand, regulatory decisions, and company valuations in oncology-related markets.
cachexia medical
"ability to preserve body mass in a preclinical model of cancer cachexia was also highlighted"
Cachexia is a complex condition characterized by significant weight loss, muscle wasting, and weakness, often occurring in people with chronic illnesses such as cancer or severe infections. It reflects a state where the body is unable to maintain healthy tissue, leading to decline in overall strength and vitality. For investors, understanding cachexia is important because it can signal underlying health issues that may impact a company's performance, especially in industries related to healthcare and pharmaceuticals.
Earnings Snapshot
Net loss: $17,270,427 · Guidance included
quarter ended June 30, 2026
Net loss
$17,270,427
compared with $14,433,881 in Q2 2025
R&D expenses
$13,996,647
increased from $10,454,160 in Q2 2025
G&A expenses
$4,996,444
increased from $4,296,417 in Q2 2025
Cash, cash equivalents and marketable securities
$182.7 million
down from $217.0 million at December 31, 2025
Guidance
Based on its June 30, 2026 cash position and current operating plans, the company expects its cash runway to fund operations into 2029.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were Immuneering (IMRX)’s key financial results for Q2 2026?
Immuneering reported a Q2 2026 net loss of $17.3 million, or $0.27 per share. R&D expenses were $14.0 million and G&A expenses were $5.0 million, reflecting increased clinical and corporate activity versus Q2 2025.
How much cash does Immuneering (IMRX) have after Q2 2026 and what is its runway?
Immuneering ended Q2 2026 with $182.7 million in cash, cash equivalents and marketable securities. Based on current operating plans, the company expects this cash runway to be sufficient to fund operations into 2029.
What clinical results did Immuneering (IMRX) report for atebimetinib in first-line pancreatic cancer?
In a Phase 2a study, atebimetinib plus mGnP achieved 17.3 month median overall survival in 55 first-line pancreatic cancer patients. 84% of evaluable patients were weight stable or gained weight at three months, with limited grade 3 or higher treatment-related adverse events.
What is the status of Immuneering (IMRX)’s MAPKeeper 301 Phase 3 trial?
The pivotal MAPKeeper 301 Phase 3 trial of atebimetinib plus mGnP in first-line metastatic pancreatic cancer is underway. Patients are being dosed, and over 30 study locations have been posted to date on clinicaltrials.gov.
What upcoming pipeline milestones did Immuneering (IMRX) outline?
Planned milestones include dosing the first patient in a Phase 2 atebimetinib plus anti-PD-1 lung cancer trial in 2H 2026, additional preclinical lung cancer data in Q4 2026, IND-enabling studies for a new DCI program by mid-2027, and MAPKeeper 301 topline data by mid-2028.
Who is Immuneering (IMRX)’s new CFO and what experience does he bring?
Immuneering appointed Andrew Gengos as Chief Financial Officer. He previously served as CFO and Head of Corporate Development at Terns Pharmaceuticals and will oversee financial strategy, capital allocation, investor relations, business development and corporate development.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
__________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 5, 2026
__________________________________
(Exact name of Registrant as Specified in Its Charter)
__________________________________
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices) (Zip Code)
(617 ) 500-8080
(Registrant’s telephone number, include area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On August 5, 2026, Immuneering Corporation (the “Company”) announced its financial results for the quarter ended June 30, 2026 and provided operational updates. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K (the “Current Report”).
The information in this Item 2.02 of this Current Report, including Exhibit 99.1, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly provided by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
The following exhibits relate to Item 2.02, which shall be deemed to be furnished, and not filed:
| Exhibit No. | Description | |||||||
| 99.1 | Press Release issued on August 5, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| IMMUNEERING CORPORATION | ||||||||
Date: August 5, 2026 | By: | /s/ Benjamin J. Zeskind | ||||||
| Name: Benjamin J. Zeskind, Ph.D. | ||||||||
| Title: Co-Founder, President, Chief Executive Officer and Director (Principal Executive Officer) | ||||||||
Exhibit 99.1
Immuneering Reports Second Quarter 2026 Financial Results and Provides Business Updates
- 17.3 month median overall survival in 55 first-line pancreatic cancer patients treated with atebimetinib in combination with chemotherapy, reported in oral presentation at ASCO Annual Meeting on June 1 -
- 17.3 month median overall survival in 55 first-line pancreatic cancer patients treated with atebimetinib in combination with chemotherapy, reported in oral presentation at ASCO Annual Meeting on June 1 -
- Phase 3 MAPKeeper 301 trial is underway, with patients being dosed and over 30 study locations posted to date -
- Peer-reviewed publication in Cancer Research details atebimetinib’s broad, durable preclinical activity, and favorable tolerability across RAS- and RAF-mutant tumors, along with preservation of body mass -
- Ended Q2 2026 with $182.7 million in cash, cash equivalents and marketable securities with anticipated runway into 2029 -
NEW YORK, August 5, 2026 -- 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 second quarter ended June 30, 2026, and provided business updates.
“At a time when first-line pancreatic cancer patients finally have treatment options, the 17.3 month median overall survival reported at ASCO for atebimetinib in combination with modified gemcitabine/nab-paclitaxel (mGnP) in our single-arm Phase 2a study stands out as potentially best-in-class. Equally important in our Phase 2a data presented at ASCO is that 84% of evaluable patients treated with atebimetinib + mGnP were weight stable or gained weight at three months, and only two categories of treatment related adverse events occurred at a grade 3 or higher in at least 10% of patients. In other words, debilitating side effects may not have to be a given for patients. With over 30 study locations already posted on clinicaltrials.gov, and newly published preclinical data in the peer reviewed journal Cancer Research supporting atebimetinib’s unique mechanism of action, we believe our Phase 3 MAPKeeper 301 study represents a compelling and differentiated option for first-line pancreatic cancer patients.”
Recent Corporate Highlights:
•Dosing patients in the Company’s pivotal Phase 3 MAPKeeper 301 trial of atebimetinib + mGnP in first-line pancreatic cancer. In June, Immuneering announced it had dosed the first patient in MAPKeeper 301, a global, randomized, open-label pivotal Phase 3 clinical trial evaluating atebimetinib + mGnP in first-line metastatic pancreatic cancer patients.
•Presented compelling Phase 2a data at the ASCO 2026 Annual Meeting, demonstrating 17.3 month median overall survival and a favorable tolerability profile in 55 first-line pancreatic cancer patients, together with 84% of evaluable patients weight stable or gaining weight at 3 months. The Phase 2a trial is evaluating atebimetinib in combination with mGnP with results reported as of an April 24, 2026 data cutoff.
•Appointed Andrew Gengos as Chief Financial Officer. In June, Immuneering announced the appointment of Andrew Gengos as Chief Financial Officer. Mr. Gengos most recently served as Chief Financial Officer and Head of Corporate Development at Terns Pharmaceuticals, which Merck & Co., Inc. acquired for $6.7 billion. Mr. Gengos will oversee financial strategy, capital allocation, investor relations, business development, and corporate development activities.
•Published new findings in Cancer Research detailing atebimetinib’s broad, durable preclinical activity and favorable tolerability across RAS- and RAF-mutant tumors via Deep Cyclic Inhibition. In July, Immuneering announced the publication of an article in Cancer Research, a leading peer-reviewed journal of the American Association for Cancer Research, characterizing the differentiated mechanism and broad preclinical activity of atebimetinib. The article, “Dual-MEK Inhibitor Atebimetinib Displays Broad Activity in RAS- and RAF-Mutant Tumors via Deep Cyclic Inhibition and Resisting RAF-Bypass,” reports that atebimetinib demonstrated broad antitumor activity across RAS- and RAF-mutant models while resisting RAF-mediated bypass signaling, a key mechanism associated with resistance to other MEK inhibitors. Atebimetinib’s ability to preserve body mass in a preclinical model of cancer cachexia was also highlighted in the article.
•Presented Genetic Data at AACR demonstrating mechanism to improve durability and survival, supporting use of atebimetinib in first-line pancreatic cancer and beyond. In April, Immuneering presented new genetic data in a poster presentation demonstrating a key mechanism that may improve durability and survival, supporting the use of atebimetinib as a first-line treatment in pancreatic cancer and beyond. The circulating tumor DNA (ctDNA) data from 123 atebimetinib-treated patients showed that acquired MAPK pathway alterations were rarely seen. These findings suggest that Deep Cyclic Inhibitors have the potential to overcome the limitations of conventional MAPK inhibition and provide a more sustained clinical benefit for patients, while potentially preserving sensitivity to subsequent treatments.
Anticipated Upcoming Milestones
•2H 2026: Dose the first patient in Phase 2 trial of atebimetinib + anti-PD-1 (cemiplimab) in non-small cell lung cancer, with a preliminary data readout expected in late-2027.
•Q4 2026: Additional preclinical data of atebimetinib in combination with anti-PD-1 in non-small cell lung cancer.
•Mid-2027: Begin IND-enabling studies for our next DCI product candidate program.
•Mid-2028: Topline data readout from the MAPKeeper 301 trial.
Second Quarter 2026 Financial Highlights
Cash Position: Cash, cash equivalents and marketable securities as of June 30, 2026 were $182.7 million, compared with $217.0 million as of December 31, 2025.
Research and Development (R&D) Expenses: R&D expenses for the second quarter of 2026 were $14.0 million, compared with $10.5 million for the second quarter of 2025. The change in R&D expenses was primarily attributable to increased clinical costs related to the Company’s lead atebimetinib program and spend related to other preclinical programs, partially offset by reduced spend related to the envometinib program.
General and Administrative (G&A) Expenses: G&A expenses for the second quarter of 2026 were $5.0 million, compared with $4.3 million for the second quarter of 2025. The increase in G&A expenses was primarily attributable to employee related costs and increased software costs supporting the general and administrative functions of the business.
Net Loss: Net loss attributable to common stockholders was $17.3 million, or $0.27 per share, for the second quarter ended June 30, 2026, compared to $14.4 million, or $0.40 per share, for the second quarter ended June 30, 2025.
2026 Financial Guidance
Based on cash, cash equivalents and marketable securities as of June 30, 2026, and current operating plans, the Company expects its cash runway to be sufficient to fund operations into 2029.
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; the timing of dosing and preliminary readout of the planned Phase 2 lung cancer trial and the Phase 3 topline readout of the MAPKeeper 301 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 June 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 June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Operating expenses | |||||||||||||||||||||||
| Research and development | $ | 13,996,647 | $ | 10,454,160 | $ | 24,641,869 | $ | 21,925,852 | |||||||||||||||
| General and administrative | 4,996,444 | 4,296,417 | 9,678,939 | 8,302,059 | |||||||||||||||||||
| Amortization of intangible asset | 7,317 | 7,317 | 14,633 | 14,633 | |||||||||||||||||||
| Total operating expenses | 19,000,408 | 14,757,894 | 34,335,441 | 30,242,544 | |||||||||||||||||||
| Loss from operations | (19,000,408) | (14,757,894) | (34,335,441) | (30,242,544) | |||||||||||||||||||
| Other income (expense) | |||||||||||||||||||||||
| Interest income | 1,082,784 | 324,013 | 2,443,188 | 762,532 | |||||||||||||||||||
| Other income, net | 647,197 | — | 1,160,931 | — | |||||||||||||||||||
| Net loss | $ | (17,270,427) | $ | (14,433,881) | $ | (30,731,322) | $ | (29,480,012) | |||||||||||||||
| Net loss per share attributable to common stockholders, basic and diluted | $ | (0.27) | $ | (0.40) | $ | (0.48) | $ | (0.82) | |||||||||||||||
| Weighted-average common shares outstanding, basic and diluted | 64,697,219 | 35,985,878 | 64,678,120 | 35,759,026 | |||||||||||||||||||
| Other comprehensive loss: | |||||||||||||||||||||||
| Unrealized loss from marketable securities | (165,235) | — | (487,572) | — | |||||||||||||||||||
| Comprehensive Loss | $ | (17,435,662) | $ | (14,433,881) | $ | (31,218,894) | $ | (29,480,012) | |||||||||||||||
IMMUNEERING CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
| June 30, 2026 | December 31, 2025 | ||||||||||
| Assets | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 41,324,682 | $ | 128,645,025 | |||||||
| Marketable securities | 108,575,637 | 44,186,244 | |||||||||
| Prepaids and other current assets | 8,090,186 | 3,414,685 | |||||||||
| Total current assets | 157,990,505 | 176,245,954 | |||||||||
| Marketable securities, non-current | 32,773,479 | 44,183,186 | |||||||||
| Property and equipment, net | 879,922 | 938,481 | |||||||||
| Goodwill | 6,690,431 | 6,690,431 | |||||||||
| Intangible asset, net | 306,513 | 321,147 | |||||||||
| Right-of-use assets | 3,136,353 | 3,322,249 | |||||||||
| Other assets | 278,124 | 283,562 | |||||||||
| Total assets | $ | 202,055,327 | $ | 231,985,010 | |||||||
| Liabilities and Stockholders' Equity | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 3,377,359 | $ | 1,542,737 | |||||||
| Accrued expenses | 4,094,874 | 7,842,367 | |||||||||
| Other liabilities | 214,461 | 291,513 | |||||||||
| Lease liabilities | 428,962 | 397,104 | |||||||||
| Total current liabilities | 8,115,656 | 10,073,721 | |||||||||
| Long-term liabilities: | |||||||||||
| Lease liabilities, net of current portion | 3,204,645 | 3,427,321 | |||||||||
| Total liabilities | 11,320,301 | 13,501,042 | |||||||||
| Commitments and contingencies | |||||||||||
| Stockholders’ equity: | |||||||||||
Preferred stock, $0.001 par value; 10,000,000 shares authorized at June 30, 2026 and December 31, 2025; 0 shares issued or outstanding at June 30, 2026 and December 31, 2025 | — | — | |||||||||
Class A common stock, $0.001 par value, 200,000,000 shares authorized at June 30, 2026 and December 31, 2025; 64,697,402 and 64,648,230 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 64,697 | 64,648 | |||||||||
Class B common stock, $0.001 par value, 20,000,000 shares authorized at June 30, 2026 and December 31, 2025; 0 shares issued and outstanding at June 30, 2026 and December 31, 2025 | — | — | |||||||||
| Additional paid-in capital | 502,127,975 | 498,658,072 | |||||||||
| Accumulated other comprehensive income (loss) | (406,240) | 81,332 | |||||||||
| Accumulated deficit | (311,051,406) | (280,320,084) | |||||||||
| Total stockholders' equity | 190,735,026 | 218,483,968 | |||||||||
| Total liabilities and stockholders' equity | $ | 202,055,327 | $ | 231,985,010 | |||||||