What happened
Shares of Immuneering (IMRX -4.84%) were up 23.7% for the week as of early Friday afternoon, according to data provided by S&P Global Market Intelligence. The healthcare stock closed at $8.07 a share last Friday before rising to as high as $11.08 on Thursday, an increase of 32.7%.
The clinical-stage oncology company's stock has a 52-week low of $3.70 and a 52-week high of $16.17. Immuneering's shares are up more than 109% so far this year.
So what
IMM-1-104, the company's lead therapy candidate, is in a phase 1/2a study to treat patients with advanced solid tumors from RAS mutations. The company said it has seen preclinical response to IMM-1-104 in pancreatic cancer, non-small cell lung cancer (NSCLC), colorectal cancer, and melanoma. The stock's rise this week was a continuation of a push that began on March 14 when it announced it will show data on its IMM-1-104 at the American Association for Cancer Research (AACR) annual meeting next month in Orlando, Florida.
Now what
Investors will want to see what the early data shows on IMM-1-104. The company's other top product candidate is IMM-6-415, which the company said it plans to file an investigational new drug (IND) application for by the fourth quarter of this year. That therapy, which creates a disruption of the mitogen-activated protein kinase (MAPK) pathway, is seen as a potential therapy to treat colorectal cancer and NSCLC.
The big concern about the company is it will need to raise cash soon. As of Dec. 31, it said it had $105.5 million in cash, enough to fund operations into the fourth quarter of 2024. Last year, it had only $316,952 in revenue and lost $51.5 million.