Company: IMRX
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001790340-25-000042
Chunk: 94

Company: Immuneering Corp
Filing Date: 2025-03-20
Form: 10-K
Item: Item 7
Chunk 94
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110

Results of Operations

Comparison of the Years Ended December 31, 2024 and 2023

The following table summarizes our results of operations for the periods indicated:

Year Ended December 31,Change20242023$%(in thousands, except percentages)Operating expensesResearch and development$47,964 $41,624 $6,340 15.2 %General and administrative16,078 16,760 (682)(4.1)%Amortization of intangible asset29 29 — — %Total operating expenses64,071 58,413 5,658 9.7 %Loss from operations(64,071)(58,413)(5,658)9.7 %Other income (expense)Interest income2,593 3,607 (1,014)(28.1)%Other income, net441 1,334 (893)(66.9)%Net loss$(61,037)$(53,472)$(7,565)14.1 %

Research and Development

The following table summarizes the components of our research and development expenses for the periods indicated:

Year Ended December 31,Change20242023$%(in thousands, except percentages)Direct research and development expenses by program:IMM-1-104$18,099 $9,289 $8,810 94.8 %IMM-6-4156,521 5,171 1,350 26.1 %Other programs6,031 9,395 (3,364)(35.8)%Unallocated research and development expenses:Employee-related costs12,912 13,564 (652)(4.8)%Stock-based compensation expense2,755 2,669 86 3.2 %Facilities and other expenses1,401 1,313 88 6.7 %Depreciation/amortization245 223 22 9.9 %Total research and development$47,964 $41,624 $6,340 15.2 %

Research and development expenses increased by approximately $6.3 million, or 15.2%, to approximately $48.0 million for the year ended December 31, 2024 as compared to approximately $41.6 million for the year-ended December 31, 2023. The increase of approximately $6.3 million was primarily due to an increase of approximately