Company: IMRX
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001790340-25-000104
Chunk: 338

Company: Immuneering Corp
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 338
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 respectively. During the three and six months ended June 30, 2024, the Company recognized stock-based compensation expense of $1,661,749 and $3,136,507, respectively. As of June 30, 2025, compensation expense remaining to be recognized for outstanding stock options was $8,932,366 and to be recognized over a weighted-average period of 2.55 years.The fair value of options granted is calculated on the grant date using the Black-Scholes option valuation model. Prior to the Company’s IPO on August 3, 2021, the Company was a private company and thus lacks company-specific historical and implied volatility information. Therefore, it estimates its expected stock volatility based on the historical volatility of a publicly traded set of peer companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own publicly traded stock price. For the six months ended June 30, 2025, the Company granted 2,317,294 shares of stock options at a weighted-average grant date fair value of $1.89.

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The Company used the following assumptions in its application of the Black-Scholes option pricing model for grants during the six months ended June 30, 2025 and 2024:Six Months Ended June 30,20252024Weighted-average risk-free interest rate4.01% - 4.55%3.93% - 4.82%Expected term (in years)5.51 - 10.005.00 - 10.00Expected dividend yield0%0%Expected volatility65.86% - 67.33%66.08% - 69.85%The following table summarizes the stock option activity during the six months ended June 30, 2025:Number of OptionsWeighted- Average Exercise Price per ShareWeighted Average Remaining Contractual Term (in Years)Aggregate Intrinsic ValueOutstanding at December 31, 20246,382,149$4.40 Granted2,317,2941.89 Exercised(1,604)1.28 Cancelled(292,467)2.96 Outstanding at June 30, 20258,405,372$3.78 7.66$5,098,323 Vested and exercisable at June 30, 20254,638,867$4.60 6.66$1,612,350 For the three