Company: IMRX
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001790340-25-000135
Chunk: 412

Company: Immuneering Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 412
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 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 nine months ended September 30, 2025, the Company granted 2,362,294 shares of stock options at a weighted-average grant date fair value of $1.99.The Company used the following assumptions in its application of the Black-Scholes option pricing model for grants during the nine months ended September 30, 2025 and 2024:Nine Months Ended September 30,20252024Weighted-average risk-free interest rate3.76% - 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 nine months ended September 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 Granted2,362,2941.99 Exercised(48,825)2.84 Cancelled(369,425)2.90 Outstanding at September 30, 20258,326,193$3.81 7.36$29,535,941 Vested and exercisable at September 30, 20254,996,711$4.49 6.47$15,447,408 

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Table of Contents

For the three and nine months ended September 30, 2025 and 2024, the Company recognized share-based compensation expense on the accompanying condensed consolidated statements of operations as follows:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Research and development$602,179 $714,573 $1,945,585 $1,959,834 General and administrative853,901 925,543 2,727,705 2,816,789 Total$1,456,080 $1,640,116 $4,673,290 $4,776,623 

Note 10 – Commitments and Contingencies

Operating Le