Cantor Fitzgerald analyst Li Watsek initiates coverage on Immuneering Corporation (NASDAQ: IMRX) with a Overweight rating.

The analyst comments "Immuneering (IMRX) is a late-stage oncology company advancing a new class of cancer therapies - deep cyclic inhibitors (DCIs) - designed to deliver deeper and more durable pathway suppression than conventional inhibitors. Its lead asset, atebimetinib, a DCI MEK inhibitor, is being evaluated in a Ph3 trial for first-line metastatic pancreatic cancer (1L mPDAC), one of oncology's highest-unmet-need indications. We believe the market materially underestimates both the probability of Ph3 success and the commercial opportunity of atebi. For long-term investors, or those seeking exposure to the pancreatic cancer space at an attractive valuation, we see an asymmetric risk/reward of +360%/-40% upside/downside ahead of the Ph3 top-line readout expected in mid-2028."

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Shares of Immuneering Corporation closed at $5.10 yesterday.