Immuneering Q3 loss widens beyond expectations on R&D spending

Overview

• US oncology drug developer's Q3 net loss and loss per share both missed analyst expectations

• Higher R&D expenses drove increased losses in Q3, mainly from clinical costs and added personnel

• Company expects cash runway to fund operations into Q4 2028 after expanding clinical programs

Outlook

• Immuneering expects updated Phase 2 pancreatic cancer data in 1H 2027

• Company says Phase 3 MAPKeeper 301 enrollment is ahead of schedule; topline data now expected mid-2028

• Immuneering expects its cash runway to fund operations into Q4 2028

Result Drivers

• R&D SPENDING - Higher research and development expenses, mainly from increased clinical costs and added personnel, drove increased losses in Q3

• CLINICAL PROGRAM EXPANSION - Expansion and acceleration of clinical trials, including extended Phase 2 follow-up and increased Phase 3 enrollment, contributed to higher operating costs

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Immuneering Corporation is $15.50, about 288.5% above its October 28 closing price of $3.99

Reuters Recommended Reads

• Oct 29 - Kymera Q3 net loss widens as R&D costs rise

• Oct 28 - Viking Therapeutics posts bigger-than-expected Q3 loss as costs rise

• Oct 29 - Alnylam Pharmaceuticals Q3 revenue rises on AMVUTTRA demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)