Company: IMRX
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001790340-25-000042
Chunk: 95

Company: Immuneering Corp
Filing Date: 2025-03-20
Form: 10-K
Item: Item 7
Chunk 95
---
 $6.8 million related to direct research and development expenses, consisting of a $8.8 million increase related to the IMM-1-104 program and a $1.4 million increase related to the IMM-6-415 program, offset by a $3.4 million decrease in expenses for earlier stage and neuroscience programs as compared to the same prior year period, and by a decrease in unallocated research and development costs of approximately $0.5 million, primarily driven by decreased employee-related costs of $0.7 million, offset by a $0.2 million increase related to stock compensation expense, depreciation, facilities, and other allocated expenses in aggregate. 

111

General and Administrative

The following table summarizes the components of our general and administrative expenses for the periods indicated:

Year Ended December 31,Change20242023$%(in thousands, except percentages)Employee-related costs$8,253 $8,802 $(549)(6.2)%Stock-based compensation expense3,746 3,058 688 22.5 %Professional fees2,584 3,283 (699)(21.3)%Facilities and other allocated expenses297 417 (120)(28.8)%Other1,198 1,200 (2)(0.2)%Total general and administrative$16,078 $16,760 $(682)(4.1)%

General and administrative expenses decreased by approximately $0.7 million, or 4.1%, to approximately $16.1 million for the year ended December 31, 2024 compared to approximately $16.8 million for the year ended December 31, 2023. The decrease of approximately $0.7 million was primarily due to decreased employee-related costs of $0.5 million, decreased professional fees incurred for accounting, auditing, legal, public relations and tax services of approximately $0.7 million, and decreased facilities and other expenses of approximately $0.1 million in the aggregate; this decrease was offset by an increase in stock-based compensation of approximately $0.7 million.

Amortization of Intangible Asset

Amortization of intangible asset was $29 thousand for the years ended December 31, 2024 and 2023. This is related to the technology acquired for the BioArkive acquisition completed in December 2021.

Other Income, net

Interest income from the interest earned on our cash, cash equivalents and marketable securities balances decreased by approximately $1.0