Immuneering prices $175 million public offering at $9.23 per share

NEW YORK - Immuneering Corporation (NASDAQ:IMRX), a clinical-stage oncology company with a current market capitalization of $22.1 billion, announced Thursday the pricing of its underwritten public offering of 18,959,914 shares of Class A common stock at $9.23 per share, matching the last reported sale price on Nasdaq on September 24. According to InvestingPro data, the company maintains a "GOOD" overall financial health score.

The clinical-stage oncology company expects to raise approximately $175 million in gross proceeds before deducting underwriting discounts and offering expenses. Immuneering has granted underwriters a 30-day option to purchase up to an additional 2,843,987 shares at the same price. The company generated revenue of $16.63 billion in the last twelve months, with its next earnings report scheduled for November 6, 2025.

Concurrent with the public offering, Sanofi has agreed to purchase 2,708,559 shares of Immuneering’s Class A common stock in a separate private placement at the same $9.23 per share price.

Both transactions are expected to close on or about September 26, with the private placement contingent upon the completion of the public offering.

Immuneering plans to use the net proceeds to advance the preclinical and clinical development of its product candidates and for working capital and general corporate purposes.

Leerink Partners and Oppenheimer & Co. are serving as joint bookrunners for the public offering and placement agents for the private placement.

The public offering is being conducted pursuant to a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on August 13 and declared effective on August 20.

The announcement was made in a press release statement issued by the company.

In other recent news, Teva Pharmaceuticals announced the FDA approval and U.S. launch of its generic version of Saxenda, a GLP-1 drug for weight loss. This marks the first generic GLP-1 drug specifically indicated for weight loss, addressing the increasing demand for such therapies in the U.S. market. Additionally, Teva reported positive results from its Phase 3 SOLARIS trial for the long-acting injectable olanzapine, which showed no cases of Post-Injection Delirium/Sedation Syndrome over 56 weeks. This safety profile is significant for the potential commercial success of the treatment.

Goldman Sachs maintained a Buy rating on Teva, citing the positive trial data as a key factor. UBS also raised its price target for Teva to $26, reflecting an optimistic outlook for the company’s branded business. Truist Securities reiterated its Buy rating with a $25 price target following discussions on the olanzapine data presented at a recent Psychiatric Congress. These developments underscore the ongoing interest and confidence in Teva’s pharmaceutical advancements.

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