Why This Small-Cap Stock Is Gaining More Than 10% Today? - Immuneering (NASDAQ:IMRX)

Chardan has initiated coverage of Immuneering Corp IMRX with a Buy rating and a price target of $18.
Immuneering's lead candidate, IMM-1-104, an oral MEK inhibitor, is on track for 3Q22 IND filing, with potential for data 12-18 months later.
Chardan summarized the drivers as follows:
- IMM-1-104's CRAF bypass prevention mechanism and ~2-hour half-life differentiate it from approved and clinical-stage MEK inhibitors.
- Initial focus on biomarker-defined populations with high unmet need increase the chances of seeing a clear activity signal and favorable benefit/risk profile.
- If Immuneering's "deep cyclic inhibition" strategy does translate to better tolerability, IMM-1-104 could be attractive as a backbone in combination regimens targeting other MAPK nodes or parallel pathways.
- Proof-of-concept for IMM-1-104 and the translational bioinformatics platform could attract partnership interest for other pipeline programs.
Price Action: IMRX shares are up 11.30% at $6.29 during the market session on the last check Friday.