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- Tuesday, Immuneering Corporation (NASDAQ:IMRX) announced initial pharmacokinetic (PK), pharmacodynamic (PD), and safety data from the Phase 1 trial of IMM-1-104.
- IMM-1-104 was well tolerated, with no dose-limiting toxicities (DLTs) or serious adverse events (SAEs) observed.
- The company expects to announce the recommended Phase 2 dose (RP2D) in early 2024 versus the prior guidance of mid-2024.
- Following a presentation of IMM-1-104 data at AACR, Mizuho upgraded the rating on IMRX to Buy from Neutral and increased the price target to $20 from $10.
- Data presented at AACR show that IMM-1-104's PK profile is consistent with the predicted preclinically, which we see as initial validation.
- The data from an initial four (4) patients showed a profile consistent with preclinical work with a tolerable safety profile thus far.
- The analyst says that the data provide initial evidence of validation for cyclic inhibition could lead to a re-rating of the shares. As a result, it increased the probability of success (PoS) on expansion indications to 25-50%.
- Chardan Research writes that safety is ultimate of limited utility without activity, so it still needs to see signals that the kind of transient MAPK pathway suppression achieved under Immuneering's deep cyclical inhibition paradigm can translate to clinical responses.
- Price Action: IMRX shares are down 1.20% at $13.20 on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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