Company: IMRX
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001790340-25-000135
Chunk: 362

Company: Immuneering Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 362
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 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 LeasesThe Company leases 38,613 square feet of office and laboratory space in San Diego, California, under a lease that terminates on April 30, 2032. As of September 30, 202