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what it is
It develops experimental cancer and brain-disease drugs from one research platform.
how it gets paid
Pre-revenue: essentially $0 product sales in the cited periods. Pipeline rows below show illustrative program mix, not dollars—do not read “percent of sales” when revenue is zero.
what just happened
The latest quarter showed about a -$1.20 EPS loss, with no product revenue to lean on.
At a glance
B balance sheet — gets the job done, barely
-$2.04 fy2024 eps est
$0M fy2022 rev est
1.05 beta
~$326M market cap
xvary composite: 55/100 — below average
What they do
It develops experimental cancer and brain-disease drugs from one research platform.
The moat is a pipeline, not sales. IMM-1-104 is in Phase 1/2a, which means first human testing. Six other oncology programs are still in discovery. You are looking at 7 shots on goal, and only 1 has reached patients.
How they make money
n/a
annual revenue
IMM-1-104
$0M
IMM-6-415
$0M
Other oncology discovery programs
$0M
Neuroscience programs
$0M
The products that matter
pancreatic cancer drug candidate
lead pancreatic cancer candidate
$0M revenue · 64% survival at 12 months
this program has no sales, but it carries most of the $326M equity story. If that 64% survival signal holds up, the stock has a case. If it does not, the platform looks a lot less valuable.
lead asset
computational drug discovery platform
translational bioinformatics platform
$0M revenue · pre-commercial
the platform is the engine behind candidate selection, but it has generated $0 in partnership or product revenue. Right now it is a research tool, not a proven business line.
platform bet
Key numbers
$326M
market cap
You are paying $326M for a company with $0M revenue.
5/100
stability score
A 5/100 stability score means the shares do not sit still.
$4M
debt
Long-term debt is $4M, or 1% of capital. That is not the main problem.
1.05
beta
A 1.05 beta means it moves a bit more than the market.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 2 — safer than 80% of stocks
- price stability 5 / 100
- long-term debt $4M (1% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for IMRX right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The latest quarter showed a -$1.20 EPS loss, with no revenue to lean on.
The company is still a pre-revenue biotech. That means the quarter was about cash burn, not sales growth.
$0M
revenue
-$1.20
eps
n/a
n/a
per-share loss
The -$1.20 per-share loss matters because there is still $0 of product revenue underneath it.
source: company earnings report, 2026
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What could go wrong
the #1 risk is failure of the lead pancreatic cancer program to hold up in later data.
med
the lead trial disappoints
A $326M valuation is sitting on one core clinical story. If the 64% survival signal at 12 months weakens, the market will not grade on a curve.
impact: it would directly hit the only asset currently supporting the equity case.
med
dilution arrives before proof
With $0M in revenue and expected losses of -$2.04 per share, operating cash has to come from the balance sheet or new capital. That is biotech math, not a management preference.
impact: if capital is raised before a stronger readout, your ownership percentage gets smaller before the science gets better.
med
the platform narrative stays a narrative
The computational discovery angle sounds appealing. It still produces $0M of partnership or product revenue today. Until more assets or outside validation show up, the platform has to live off the lead program's credibility.
impact: if investors stop paying for platform optionality, the stock gets valued as a single-asset biotech. Because that is what it is.
a negative readout would hit the one asset behind a $326M market cap, and the lack of revenue means there is no operating business to absorb the blow.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
next meaningful clinical readout
This is the whole story. You want evidence that the 64% survival figure at 12 months is repeatable, durable, and not a one-off headline.
cash math
loss trajectory versus runway
Q4 2025 EPS of -$0.18 was better than the -$0.31 estimate. Smaller losses matter because this company has $0M in revenue and every quarter bought is extra time for the science.
risk
equity raise risk
A B balance sheet and just $4M of long-term debt look fine on the surface. The real question is whether fresh capital shows up before stronger data does.
trading behavior
volatility staying extreme
A 52-week range of $1–$10 and price stability of 5 / 100 tell you this name is still trading as an event stock. If volatility stays this high, the market still sees probability, not proof.
Analyst rankings
coverage depth
thin
At a $326M market cap with no published target range on this page, coverage looks limited. in human-speak, this stock is being priced more by trial odds than by a crowded analyst model stack.
market risk
1.05
Beta of 1.05 says the stock roughly tracks the market on a spreadsheet. The 52-week range of $1–$10 says clinical headlines matter more than index moves.
stability
5 / 100
Price stability is near the floor. That usually means investors are constantly repricing a small set of binary outcomes.
source: institutional data
Institutional activity
institutional ownership data for IMRX is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$5
current price
n/a
target midpoint · n/a from current
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