Immuneering (US:IMRX)2024-08-06 20:07Clinical Trials and Developments - Enrollment in the IMM-1-104 Phase 2a Trial is progressing well, with initial data from multiple arms expected in the second half of 2024[1] - The FDA granted Fast Track designation for IMM-1-104 as a first-line treatment for pancreatic ductal adenocarcinoma (PDAC) in July 2024[3] - Initial pharmacokinetic (PK), pharmacodynamic (PD), and safety data from the Phase 1 portion of the IMM-6-415 trial are expected in the second half of 2024[4] - Preclinical data presented at AACR showed that combining IMM-1-104 with chemotherapy yields deeper and more durable tumor growth inhibition than either treatment alone[3] - The company is evaluating IMM-1-104 in monotherapy arms for patients with RAS mutant melanoma and lung cancer, alongside pancreatic cancer patients[2] Financial Performance - R&D expenses for Q2 2024 were $10.7 million, an increase of 12.6% from $9.5 million in Q2 2023[5] - G&A expenses for Q2 2024 were $4.3 million, up from $4.0 million in the same period of 2023[5] - The net loss attributable to common stockholders for Q2 2024 was $14.1 million, or $0.47 per share, compared to a net loss of $12.2 million, or $0.43 per share, in Q2 2023[6] Cash and Assets - Cash, cash equivalents, and marketable securities as of June 30, 2024, were $59.7 million, down from $85.7 million as of December 31, 2023[5] - The company expects its cash runway to be sufficient to fund operations into the second half of 2025[7] - Total current assets decreased from $89,083,669 on December 31, 2023, to $63,685,675 on June 30, 2024, representing a decline of approximately 28.5%[15] - Cash and cash equivalents increased slightly from $59,405,817 to $59,728,455, showing a growth of about 0.5%[15] - Total assets decreased from $102,584,538 to $77,087,275, a decline of approximately 25%[15] Liabilities and Equity - Total liabilities decreased from $12,008,355 to $10,781,640, a reduction of approximately 10.2%[15] - Accumulated deficit increased from $(163,258,578) to $(191,646,334), indicating a worsening of about 17.4%[15] - Total stockholders' equity decreased from $90,576,183 to $66,305,635, a decline of approximately 26.8%[15] - Additional paid-in capital rose from $253,806,267 to $257,922,316, reflecting an increase of about 1.7%[15] Current Liabilities and Assets - Current liabilities decreased from $7,845,503 to $6,781,086, a reduction of about 13.5%[15] - Property and equipment, net decreased from $1,400,582 to $1,290,091, a decline of approximately 7.9%[15] - Right-of-use assets, net decreased from $3,995,730 to $3,827,943, a reduction of about 4.2%[15]