Company: IMRX
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001790340-25-000061
Chunk: 338

Company: Immuneering Corp
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 338
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. 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 three months ended March 31, 2025, the Company granted 2,039,644 shares of stock options at a weighted-average grant date fair value of $1.92.The Company used the following assumptions in its application of the Black-Scholes option pricing model for grants during the three months ended March 31, 2025 and 2024:Three Months Ended March 31,20252024Weighted-average risk-free interest rate4.07% - 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%67.00% - 69.85%

18

The following table summarizes the stock option activity during the three months ended March 31, 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 Granted2,039,6441.92 Exercised— — Cancelled(84,374)3.39 Outstanding at March 31, 20258,337,419$3.81 7.78$2,640 Vested and exercisable at March 31, 20254,265,750$4.69 6.61$990 For the three months ended March 31, 2025 and 2024, the Company recognized share-based compensation expense on the accompanying condensed consolidated statements of operations as follows:Three Months Ended March 31,20252024Research and development$733,037 $566,883 General and administrative959,230 907,875 Total$1,692,267 $1,474,758 

Note 10 – Commitments and Contingencies

Operating LeasesAs part of the BioArkive acquisition, the Company assumed the obligations of three leases in San Diego