IMUNON Granted Continued Listing Extension by Nasdaq to Complete Compliance Plan
Rhea-AI Summary
IMUNON (NASDAQ: IMNN), a clinical-stage company developing DNA-mediated immunotherapy in Phase 3, has received an extension from the Nasdaq Hearing Panel to maintain its stock market listing.
The Panel has granted IMUNON's request for an exception after reviewing the company's compliance strategies. The company has already achieved compliance with the Equity Rule through recent fundraising activities and must now focus on meeting the minimum shareholder equity requirement and minimum bid price requirement within the approved timeframe.
CEO Stacy Lindborg expressed confidence in executing the compliance plan to maintain Nasdaq listing and deliver long-term shareholder value.
Positive
- Already achieved compliance with Nasdaq Equity Rule through recent fundraising
- Received Nasdaq extension to complete compliance plan
- Company has Phase 3 clinical-stage asset in development
Negative
- Company currently fails to meet Nasdaq minimum bid price requirement
- May need additional time beyond current extension to achieve full compliance
- Risk of potential delisting if compliance requirements are not met
News Market Reaction 16 Alerts
On the day this news was published, IMNN gained 2.26%, reflecting a moderate positive market reaction. Argus tracked a peak move of +3.4% during that session. Argus tracked a trough of -2.4% from its starting point during tracking. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $250K to the company's valuation, bringing the market cap to $11M at that time. Trading volume was elevated at 2.6x the daily average, suggesting notable buying interest.
Data tracked by StockTitan Argus on the day of publication.
Management provides Nasdaq Hearing Panel with a comprehensive executable plan for long term compliance
LAWRENCEVILLE, N.J., July 15, 2025 (GLOBE NEWSWIRE) -- IMUNON, Inc. (Nasdaq: IMNN), a clinical-stage company in Phase 3 development of its DNA-mediated immunotherapy, today announced that the Nasdaq Hearing Panel has granted its request for an exception to complete its compliance plan, allowing the Company to maintain its listing on the Nasdaq Stock Market.
Following a comprehensive review of IMUNON’s strategies to regain compliance, the Nasdaq Hearing Panel stated that IMUNON has already achieved compliance with the Equity Rule through recent fundraising activities. To ensure sustained compliance with the minimum shareholder equity requirement and to regain compliance with the minimum bid price requirement, the Company will implement the compliance plan recently presented to the Hearing Panel.
The Panel has approved an exception tailored to the time needed for IMUNON to regain compliance, rather than the full 180-day period initially requested. The Company is committed to meeting these requirements within the designated timeframe. Should additional time be necessary, IMUNON may submit a request for an extension to the Panel.
“We are pleased with the Nasdaq Hearing Panel’s decision, which reflects confidence in our straightforward and executable compliance plan,” said Stacy Lindborg, Ph.D., President and CEO of IMUNON. “Our management is fully dedicated to implementing our well thought out plan and taking the necessary steps to maintain our Nasdaq listing. I have every confidence our actions will continue to provide a platform that will deliver long-term value to our shareholders.”
About IMUNON
IMUNON is a clinical-stage biotechnology company focused on advancing a portfolio of innovative treatments that harness the body’s natural mechanisms to generate safe, effective and durable responses across a broad array of human diseases, constituting a differentiating approach from conventional therapies. IMUNON is developing its non-viral DNA technology across its modalities. The first modality, TheraPlas®, is developed for the gene-based delivery of cytokines and other therapeutic proteins in the treatment of solid tumors where an immunological approach is deemed promising. The second modality, PlaCCine®, is developed for the gene delivery of viral antigens that can elicit a strong immunological response.
The Company’s lead clinical program, IMNN-001, is a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer that has completed multiple clinical trials including one Phase 2 clinical trial (OVATION 2). IMNN-001 works by instructing the body to produce safe and durable levels of powerful cancer-fighting molecules, such as interleukin-12 and interferon gamma, at the tumor site. Additionally, the Company has completed dosing in a first-in-human study of its COVID-19 booster vaccine (IMNN-101). The Company will continue to leverage these modalities and to advance, either directly or through partnership, the technological frontier of plasmid DNA to better serve patients with difficult-to-treat conditions. For more information, please visit www.imunon.com.
Forward-Looking Statements
IMUNON wishes to inform readers that forward-looking statements in this news release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, but not limited to, statements regarding the Company’s ability to regain compliance with Nasdaq’s continued listing requirements, the timing of enrollment of the Company’s clinical trials, the potential of any therapies developed by the Company to fulfill unmet medical needs, the market potential for the Company’s products, if approved, the potential efficacy and safety profile of our product candidates, and the Company’s plans and expectations with respect to its development programs more generally, are forward-looking statements. We generally identify forward-looking statements by using words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances), and include statements regarding our planned stock split. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, risks and uncertainties related to the reverse stock split having the desired effect, our ability to regain compliance with Nasdaq’s listing requirements, the potential de-listing of our shares on Nasdaq, risks and uncertainties relating to unforeseen changes in the course of research and development activities and in clinical trials, including the fact that interim results are not necessarily indicative of final results; the uncertainties of and difficulties in analyzing interim clinical data; the significant expense, time and risk of failure in conducting clinical trials; the need for IMUNON to evaluate its future development plans; possible actions by customers, suppliers, competitors or regulatory authorities; and other risks detailed from time to time in IMUNON’s filings with the Securities and Exchange Commission. IMUNON assumes no obligation, except to the extent required by law, to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
Contacts:
| Media | Investors |
| Jenna Urban | Peter Vozzo |
| CG Life | ICR Healthcare |
| 212-253-8881 | 443-213-0505 |
| jurban@cglife.com | peter.vozzo@icrhealthcare.com |
FAQ
What did Nasdaq grant to IMUNON (IMNN) on July 15, 2025?
What requirements does IMUNON (IMNN) need to meet for Nasdaq compliance?
Has IMUNON (IMNN) met any of the Nasdaq compliance requirements?
What happens if IMUNON (IMNN) needs more time for Nasdaq compliance?
What stage is IMUNON's (IMNN) main product development?
