H.C. Wainwright Starts Immuneering Corporation (IMRX) at Buy

H.C. Wainwright analyst Andres Maldonado initiates coverage on Immuneering Corporation (NASDAQ: IMRX) with a Buy rating and a price target of $14.00.

The analyst comments "What’s new? We are initiating coverage of Immuneering (IMRX) with a Buy rating and $14 PT based on a thesis that extends well beyond the 17.3-month median OS currently driving investor attention in pancreatic cancer. MEK was never an unimportant target, but chronic MEK inhibition has historically been a poor way to drug it. Atebimetinib was designed around a fundamentally different pharmacologic strategy, termed Deep Cyclic Inhibition, or DCI, which uses a high free-drug peak to drive deep MAPK suppression for several hours before concentrations fall toward a near-zero trough, allowing normal tissues and signaling to recover before the next dose. That distinction matters because MEK sits at the convergence point downstream of RAS and RAF, potentially providing mutation-agnostic coverage across KRAS. The first clinical proof point has come in 1L PDAC, where atebimetinib plus modified gemcitabine/nab-paclitaxel produced a 17.3-month median OS, 8.3-month median PFS, 36% ORR and 82% DCR in the expanded 55-patient cohort. Importantly, the 17.3-month OS was maintained as the study expanded from 34 to 55 patients, while tolerability remained notably clean for a MEK-containing regimen. We do not believe investors need to assume that 17.3 months reproduces in Phase 3 to make the story work. Instead, our initiation rests on two crucial observations: (1) atebimetinib appears capable of delivering substantial pathway inhibition without recreating the chronic toxicity historically associated with MEK inhibitors; and (2) the PDAC survival signal is simply too large to dismiss even after appropriately haircutting the cross-trial comparison, and validation of DCI could ultimately turn atebimetinib into a mutation-agnostic MAPK backbone that extends well beyond chemotherapy in pancreatic cancer."

For an analyst ratings summary and ratings history on Immuneering Corporation click here. For more ratings news on Immuneering Corporation click here.

Shares of Immuneering Corporation closed at $4.39 yesterday.

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