Street Calls of the Week
NEW YORK - Immuneering Corporation (NASDAQ:IMRX), a clinical-stage oncology company with a market capitalization of $380 million that has seen its stock surge nearly 400% over the past six months according to InvestingPro, announced Wednesday a proposed underwritten public offering of its Class A common stock and pre-funded warrants, while simultaneously securing a $25 million private investment from Sanofi.
The clinical-stage oncology company said it will grant underwriters a 30-day option to purchase additional shares equal to 15% of the initially offered securities. Sanofi has agreed to purchase $25 million of Immuneering’s Class A common stock or non-voting Class B common stock at the same price as the public offering in a separate private placement. With analyst price targets ranging from $10 to $21 per share, the stock currently trades at $9.23.
Leerink Partners and Oppenheimer & Co. Inc. are serving as joint bookrunners for the public offering and placement agents for the private transaction with Sanofi.
Immuneering intends to use proceeds from both transactions to advance preclinical and clinical development of its product candidates and for working capital and general corporate purposes.
The public offering is being conducted under a shelf registration statement filed with the Securities and Exchange Commission on August 13, 2025, and declared effective on August 20, 2025. The private placement is contingent upon the closing of the public offering.
The company noted that both transactions are subject to market and other conditions, with no guarantee of completion or final terms.
Shares offered in the public offering will be registered under securities laws, while those in the private placement will not be registered under the Securities Act of 1933.
According to the press release statement, Immuneering focuses on developing therapies for cancer patients. The company maintains a healthy balance sheet with a current ratio of 3.7 and operates with moderate debt levels. For deeper insights into Immuneering’s financial health and growth prospects, including 12 additional exclusive ProTips, visit InvestingPro.
In other recent news, Immuneering Corporation has reported promising results from its Phase 2a trial involving atebimetinib combined with modified gemcitabine/nab-paclitaxel (mGnP) for first-line pancreatic cancer patients. The company revealed an overall survival rate of 86% at nine months, significantly surpassing the standard of care benchmark of approximately 47%. Additionally, the progression-free survival rate was 53% at the same interval, compared to a standard care benchmark of about 29%. These results have led Needham to raise its price target for Immuneering to $11, maintaining a Buy rating due to the promising data from the study. Oppenheimer also reiterated its Outperform rating with a $21 price target, anticipating further updates on the clinical trial data. Immuneering has scheduled to present updated survival data from the study on September 25, which will include results from 34 patients. The company is focused on treating pancreatic ductal adenocarcinoma (PDAC), a market valued between $8-10 billion, where chemotherapy remains the primary treatment option.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.