Overview

• US oncology drug developer's Q1 EPS and net loss both beat analyst expectations

• Company ended Q1 with $198.6 mln in cash, cash equivalents and marketable securities

• Phase 3 MAPKeeper 301 trial in first-line pancreatic cancer now recruiting, with first dosing mid-2026

Outlook

• Company expects cash runway to fund operations into 2029

Result Drivers

• R&D SPEND SHIFT - Lower Q1 R&D expenses were mainly due to decreased clinical spend on the envometinib program, partly offset by higher costs for atebimetinib and other preclinical programs

• HIGHER G&A COSTS - General and administrative expenses increased due to employee-related costs and higher professional fees

Company press release: ID:nGNX1lZn2z

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS	Beat	-$0.21	-$0.25 (5 Analysts)
Q1 Net Income	Beat	-$13.5 mln	-$17.34 mln (4 Analysts)

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "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 Corp is $14.50, about 182.1% above its May 14 closing price of $5.14

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