Immuneering Corporation announced on September 26 2025 that it had priced an underwritten public offering of 18,959,914 shares of its Class A common stock at $9.23 per share, the last reported sale price on the Nasdaq Global Market as of September 24 2025. The offering is expected to generate approximately $175 million in gross proceeds before underwriting discounts and commissions.
In addition to the public offering, Immuneering disclosed a concurrent private placement of 2,708,559 shares of its Class A common stock to Sanofi at the same $9.23 per share price. The private placement is contingent upon the closing of the public offering and is expected to close on or about September 26 2025. The underwriters, Leerink Partners and Oppenheimer & Co., have a 30‑day option to purchase up to an additional 2,843,987 shares at the offering price.
The company stated that the net proceeds from both the public offering and the private placement will be used to advance the preclinical and clinical development of its product candidates, provide working capital, and support other general corporate purposes. This infusion is intended to extend the company’s cash runway into 2026 and address its near‑term liquidity concerns amid a “going concern” warning.
The offering is being made pursuant to a shelf registration statement on Form S‑3, which was filed on August 13 2025 and declared effective on August 20 2025. The announcement marks a significant financing milestone for Immuneering, a clinical‑stage oncology company that has been operating at a net loss and has relied on private placements and ATM programs to fund its development program.
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