Immuneering Corporation reported its financial results for the third quarter ended September 30, 2024, on November 13, 2024. The company held $50.7 million in cash, cash equivalents, and marketable securities as of September 30, 2024, a decrease from $85.7 million at the end of 2023.
Research and Development (R&D) expenses increased to $11.3 million for Q3 2024, up from $10.1 million in Q3 2023, primarily due to higher clinical costs for the lead program and increased personnel. General and Administrative (G&A) expenses were $4.0 million, compared to $3.9 million in the prior year's quarter. The net loss attributable to common stockholders for the quarter was $14.6 million, or $0.49 per share, compared to $12.6 million, or $0.43 per share, for Q3 2023.
The company also announced positive initial response data for IMM-1-104 in combination with modified gemcitabine/nab-paclitaxel in first-line pancreatic cancer, including complete and partial responses. Immuneering received FDA Orphan Drug Designation for IMM-1-104 in pancreatic cancer and Fast Track Designation in first-line pancreatic cancer. The company expects its cash runway to be sufficient to fund operations into the fourth quarter of 2025.
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