Published on 11 Apr 2023 on Zacks via Yahoo Finance

Immuneering Corporation (IMRX) Surges 18.5%: Is This an Indication of Further Gains?

Immuneering Corporation IMRX shares soared 18.5% in the last trading session to close at $11.59. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 29.9% gain over the past four weeks.

The rise in Immuneering Corporation's stock price is attributable to positive investor sentiments on the company's pipeline development which is focused on developing a universal-RAS therapy targeting cancer indications. The company is evaluating its lead candidate IMM-1-104 in a phase I/IIa study in patients with advanced solid tumors harboring RAS mutations.

This company is expected to post quarterly loss of $0.54 per share in its upcoming report, which represents a year-over-year change of -10.2%. Revenues are expected to be $0.15 million, down 16.7% from the year-ago quarter.