Company: IMRX
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001790340-25-000061
Chunk: 350

Company: Immuneering Corp
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 350
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959 908 51 5.6 %Professional fees629 630 (1)(0.2)%Facilities and other allocated expenses59 95 (36)(37.9)%Other203 295 (92)(31.2)%Total general and administrative$4,006 $4,116 $(110)(2.7)%

General and administrative expenses decreased by approximately $0.1 million, or 2.7%, to approximately $4.0 million for the three months ended March 31, 2025 compared to approximately $4.1 million for the three months ended March 31, 2024. The decrease of approximately $0.1 million was primarily due to a decrease in employee-related costs of $0.1 million, in addition to a $0.1 million decrease in professional fees for accounting, auditing and legal services and facilities and other allocated expenses, in the aggregate, offset by increased stock-based compensation expense of approximately $0.1 million.

Amortization of Intangible Asset

Amortization of intangible asset was $7,317 for the three months ended March 31, 2025 and 2024. This amortization is related to the technology acquired for the BioArkive acquisition completed in December 2021.

Other Income (Expense)

Interest income decreased by approximately $0.4 million for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024, driven primarily by a lower total cash balance.

There was no other income for the three months ended March 31, 2025, compared to $0.2 million for the three months ended March 31, 2024. This was primarily a result of there being no marketable securities as of March 31, 2025 and December 31, 2024, respectively.

Liquidity and Capital Resources

Sources of Liquidity

We finance our operations through the issuance of convertible notes payable, convertible preferred stock, common stock, and the exercise of stock options. 

As of March 31, 2025, we had an accumulated deficit of $239.3 million and $35.9 million in cash and cash equivalents. Cash and cash equivalents are comprised of deposits at major financial banking institutions and highly liquid investments with an original maturity of three months or less at the date of purchase. Our primary use of cash is to fund operating expenses, which consist primarily of research and development expenditures, and to