Estados financieros detallados de Immuneering Corporation (IMRX): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $4.45, IMRX presenta beneficios negativos (P/E no significativo) y un ROE del -27.15%. La capitalización bursátil es de $162M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $1.9M | $2.3M | $2.1M | $316952 | 0 | 0 | 0 |
| Coste de Ventas | $1.2M | $1.3M | $1.2M | $158122 | 0 | 0 | $698887 |
| Beneficio Bruto | $696739 | $1.0M | $926888 | $158830 | 0 | 0 | -$698887 |
| I+D | $4.3M | $15.0M | $26.5M | $36.3M | $41.6M | $48.0M | $42.0M |
| Generales y Administrativos | $2.7M | $3.1M | $8.3M | $15.6M | $16.8M | $16.1M | $17.3M |
| Gastos Operativos | $7.0M | $18.1M | $34.8M | $51.9M | $58.4M | $64.1M | $58.7M |
| Beneficio Operativo | -$6.3M | -$17.1M | -$33.9M | -$51.7M | -$58.4M | -$64.1M | -$59.4M |
| EBITDA | -$7.3M | -$17.0M | -$33.7M | -$51.5M | -$58.1M | -$63.7M | -$55.3M |
| Gastos por Intereses | $351302 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$7.7M | -$17.1M | -$33.8M | -$50.5M | -$53.5M | -$61.0M | -$56.0M |
| Impuestos | 0 | -$84336 | -$307485 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$7.7M | -$17.0M | -$33.5M | -$50.5M | -$53.5M | -$61.0M | -$56.0M |
| BPA | $-0.60 | $-1.26 | $-1.27 | $-1.87 | $-1.88 | $-2.04 | $-1.27 |
| BPA Diluido | $-0.60 | $-1.26 | $-1.27 | $-1.87 | $-1.88 | $-2.04 | $-1.27 |
| Acciones en Circulación (Diluidas) | $13.5M | $13.5M | $26.3M | $26.4M | $28.4M | $30.0M | $44.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | 0 | -$612729 | -$180479 | 0 |
| Beneficio Operativo | -$15.4M | -$13.8M | -$15.3M | -$19.0M |
| EBITDA | -$15.3M | -$13.7M | -$15.2M | -$17.2M |
| Beneficio Neto | -$15.0M | -$11.6M | -$13.5M | -$17.3M |
| BPA | $-0.38 | $-0.18 | $-0.21 | $-0.27 |
| BPA Diluido | $-0.38 | $-0.18 | $-0.21 | $-0.27 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $13.8M | $37.1M | $74.9M | $72.6M | $59.4M | $36.1M | $128.6M |
| Inversiones a Corto | 0 | 0 | $74.3M | $32.9M | $26.3M | 0 | $44.2M |
| Cuentas por Cobrar | $209940 | $500110 | $246040 | $12417 | 0 | 0 | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $14.1M | $37.7M | $152.3M | $108.7M | $89.1M | $39.6M | $176.2M |
| Inmovilizado Material | $35276 | $677466 | $6.1M | $5.8M | $5.4M | $4.8M | $4.3M |
| Fondo de Comercio | 0 | 0 | $6.7M | $6.7M | $6.7M | $6.7M | $6.7M |
| Activos Intangibles | 0 | 0 | $439000 | $408947 | $379680 | $350413 | $321147 |
| Activos Totales | $14.1M | $38.4M | $166.7M | $122.4M | $102.6M | $52.7M | $232.0M |
| Cuentas por Pagar | $294948 | $1.5M | $1.4M | $3.2M | $2.1M | $2.0M | $1.5M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $505296 | $2.3M | $5.6M | $8.1M | $7.8M | $7.5M | $10.1M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $20.6M | $60.9M | $10.7M | $12.5M | $12.0M | $11.3M | $13.5M |
| Reservas | -$8.7M | -$25.7M | -$59.3M | -$109.8M | -$163.3M | -$224.3M | -$280.3M |
| Patrimonio Neto | -$6.5M | -$22.5M | $156.0M | $109.9M | $90.6M | $41.4M | $218.5M |
| Deuda Total | 0 | $621089 | $5.4M | $4.8M | $4.5M | $4.2M | $3.8M |
| Deuda Neta | -$13.8M | -$36.5M | -$143.8M | -$100.7M | -$81.2M | -$32.0M | -$169.0M |
| Capital Circulante | $13.6M | $35.5M | $146.7M | $100.7M | $81.2M | $32.1M | $166.2M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $227.6M | $128.6M | $47.3M | $41.3M |
| Activos Totales | $241.1M | $232.0M | $214.8M | $202.1M |
| Pasivos Totales | $13.1M | $13.5M | $8.3M | $11.3M |
| Patrimonio Neto | $228.0M | $218.5M | $206.5M | $190.7M |
| Deuda Total | $3.9M | $3.8M | $3.7M | $3.6M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$7.7M | -$17.0M | -$33.5M | -$50.5M | -$53.5M | -$61.0M | -$56.0M |
| Amortizaciones | $18079 | $79305 | $159072 | $277252 | $352083 | $385074 | $353784 |
| Compensación en Acciones | $596631 | $1.1M | $1.8M | $4.1M | $5.7M | $6.5M | $6.3M |
| Cambio en Capital Circulante | $437125 | $1.3M | $900416 | $1.7M | -$974641 | -$925383 | $3.8M |
| Flujo de Caja Operativo | -$4.4M | -$14.6M | -$30.9M | -$44.1M | -$49.0M | -$55.0M | -$45.3M |
| Inversiones (CapEx) | -$20526 | -$53415 | -$60786 | -$742485 | -$342746 | -$84875 | -$142226 |
| Adquisiciones | 0 | 0 | $70348 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$4.5M | -$14.7M | -$30.9M | -$44.8M | -$49.3M | -$55.1M | -$45.5M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$12.0M | -$9.8M | -$18.4M | -$16.5M |
| Inversiones (CapEx) | -$7255 | -$123910 | -$79930 | -$27367 |
| Flujo de Caja Libre | -$12.0M | -$10.0M | -$18.5M | -$16.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.5M | $1.6M | $1.6M | $1.6M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +20.4% | -10.0% | -84.8% | -100.0% | | |
| Crecimiento Beneficio Neto (anual) | | -121.0% | -96.8% | -50.6% | -5.9% | -14.1% | +8.2% |
| Crecimiento BPA (anual) | | -110.0% | -0.8% | -47.2% | -0.5% | -8.5% | +37.7% |
| Cambio en Acciones (anual) | | +0.0% | +94.8% | +0.3% | +7.7% | +5.5% | +46.8% |
| Crecimiento FCF (anual) | | -228.8% | -110.7% | -45.1% | -10.0% | -11.7% | +17.4% |
| Margen Bruto | 36.3% | 44.6% | 44.6% | 50.1% | | | |
| Margen Operativo | -327.7% | -739.0% | -1629.2% | -16325.8% | | | |
| Margen EBITDA | -382.4% | -735.6% | -1619.5% | -16238.4% | | | |
| Margen Neto | -401.6% | -737.2% | -1612.3% | -15937.3% | | | |
| Margen FCF | -232.5% | -634.8% | -1486.2% | -14148.4% | | | |
| Tasa Impositiva Efectiva | -0.0% | 0.5% | 0.9% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.33 | $-1.09 | $-1.17 | $-1.70 | $-1.74 | $-1.84 | $-1.03 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $13.5M | $13.5M | $26.3M | $26.4M | $28.4M | $30.0M | $44.0M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -27.15% |
| Rentabilidad sobre capital invertido | -32.65% |
| Rentabilidad sobre activos | -28.35% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.02 |
| Ratio corriente | 19.47 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 11.19 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -29.32 | -13.96 | -12.73 | -2.59 | -3.91 | -1.08 | -5.18 |
| P/VC | -36.41 | -10.57 | 2.73 | 1.17 | 2.31 | 1.59 | 1.33 |
| P/V | 123.80 | 102.82 | 204.62 | 403.77 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 36.3% | 44.6% | 44.6% | 50.1% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | -327.7% | -739.0% | -1629.2% | -16325.8% | 0.0% | 0.0% | 0.0% |
| Margen Neto | -401.6% | -737.2% | -1612.3% | -15937.3% | 0.0% | 0.0% | 0.0% |