Caesars Entertainment misses Q2 earnings expectations, shares edge lower
CAMBRIDGE, Mass. - Immuneering Corporation (NASDAQ:IMRX), a clinical-stage oncology company with a market capitalization of $59.31 million, has entered into a clinical supply agreement with Regeneron (NASDAQ:REGN) Pharmaceuticals to assess the potential of IMM-1-104, Immuneering’s lead product candidate, in combination with Regeneron’s anti-PD-1 therapy, Libtayo (cemiplimab). The company’s stock has shown remarkable resilience, posting a 54% gain over the past six months, according to InvestingPro data. This collaboration will focus on patients with unresectable or metastatic RAS-mutant non-small cell lung cancer (NSCLC) in a Phase 2a clinical trial.
The trial aims to explore the dual-targeting potential of IMM-1-104 in conjunction with immuno-oncology agents such as PD-1 inhibitors. This potential was supported by preclinical data presented at the American Association for Cancer Research (AACR) annual meeting in 2023. The data suggested that the combination could both break tumor MAPK addiction and enhance anti-tumor immunity.
E.B. Brakewood, Chief Business Officer of Immuneering, expressed optimism about the collaboration, noting that it is the company’s first involving IMM-1-104. He emphasized the potential benefits for patients with advanced non-small cell lung cancer. Dr. Brett Hall, Ph.D., Chief Scientific Officer of Immuneering, also highlighted the significance of the preclinical data in supporting the trial’s approach.
Under the terms of the agreement, Immuneering will sponsor the planned studies, while Regeneron will provide Libtayo. Immuneering will retain global development and commercialization rights to IMM-1-104, an oral, once-daily deep cyclic inhibitor of MEK designed to improve tolerability and address RAS-driven tumors. InvestingPro analysis shows the company maintains a strong liquidity position with a current ratio of 7.99, holding more cash than debt on its balance sheet, though it’s currently burning through cash at a notable rate.
The company’s pipeline includes IMM-6-415, another deep cyclic inhibitor of MEK, which is also undergoing a Phase 1/2a trial in patients with advanced solid tumors harboring RAS or RAF mutations. Immuneering’s broader goal is to develop and commercialize therapies that are more effective and better tolerated by cancer patients.
This press release contains forward-looking statements regarding the development and potential efficacy of IMM-1-104, alone or in combination with other therapies. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially. The information presented is based on a press release statement. Notably, analyst price targets for Immuneering range from $1.50 to $25.00, reflecting diverse views on the company’s potential. For deeper insights into Immuneering’s financial health and growth prospects, including 8 additional ProTips and comprehensive financial metrics, visit InvestingPro.
In other recent news, Immuneering Corp announced significant progress in its ongoing Phase 2a clinical trials involving IMM-1-104, a treatment for advanced RAS-mutant solid tumors. The trials, which combine IMM-1-104 with modified FOLFIRINOX and Gemcitabine/nab-Paclitaxel regimens for first-line treatment of pancreatic cancer patients, have shown promising interim overall response rates. Furthermore, the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to IMM-1-104 for unresectable or metastatic NRAS-mutant melanoma patients.
Despite these optimistic developments, Morgan Stanley (NYSE:MS) downgraded Immuneering’s stock rating from Equal-weight to Underweight, citing a need for further data to confirm efficacy trends. Immuneering also successfully raised net proceeds of $13.7 million through its at-the-market equity offering program to support its ongoing research and development activities. The company plans to release additional data from the Phase 2a portion of the IMM-1-104 trial in the second quarter of 2025 and initiate further trials for melanoma and non-small cell lung cancer within the year. These are the latest developments in the company’s pursuit of innovative cancer treatments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.