IMUNON Reports First Quarter 2026 Financial Results and Provides Business Update
Rhea-AI Summary
IMUNON (NASDAQ: IMNN) reported first quarter 2026 net loss of $4.3 million, or $0.84 per share, with operating expenses of $4.3 million and cash and equivalents of $4.8 million.
Phase 2 OVATION 2 data for IMNN-001 showed median overall survival gains up to 24.2 months and a favorable safety profile, supporting the ongoing Phase 3 OVATION 3 trial, which has FDA-aligned protocol and a defined path to BLA filing.
Positive
- Phase 2 OVATION 2: median overall survival 45.1 vs. 30.4 months
- PARP maintenance subgroup: median OS 65.6 vs. 41.4 months with IMNN-001
- FDA aligned on Phase 3 OVATION 3 protocol and BLA path
- OVATION 3 Phase 3 enrollment progressing ahead of plan
- Strategic reorganization aimed at reducing operating expenses
- Cash and cash equivalents of $4.8 million at March 31, 2026
Negative
- Net loss of $4.3 million in Q1 2026 vs. $4.1 million in 2025
- Operating expenses rose to $4.3 million from $4.1 million year over year
- Net cash used in operations increased to $4.0 million from $2.8 million
News Market Reaction – IMNN
In the May 12 session, IMNN declined 1.10%, reflecting a mild negative market reaction. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Nov 13 | Quarterly earnings update | Positive | +5.3% | Q3 2025 results with improved OS data and reduced operating expenses. |
| Aug 05 | Quarterly earnings update | Positive | -4.8% | Q2 2025 results plus stock dividend, trial progress, and new financing. |
| May 12 | Quarterly earnings update | Positive | +2.0% | Q1 2025 results with OVATION 3 initiation and ASCO data acceptance. |
| Nov 07 | Quarterly earnings update | Positive | -12.3% | Q3 2024 results and compelling topline OVATION 2 survival benefit. |
| Aug 14 | Quarterly earnings update | Positive | -11.4% | Q2 2024 results with positive OVATION 2 topline and extended cash runway. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings and business updates have often been clinically positive but followed by weak or negative next-day price moves.
Over recent quarters, IMUNON has repeatedly paired financial updates with progress on IMNN-001 in advanced ovarian cancer. Prior earnings releases in 2024–2025 highlighted improving overall survival data from OVATION 2, advancing into the pivotal OVATION 3 Phase 3 trial, expense reductions, and selective financings. Despite these clinically favorable signals, several earnings days saw negative price reactions. Today’s Q1 2026 results continue that pattern of modest operating spend and strong survival data, framed around the same OVATION 2 and OVATION 3 programs.
Key Terms
overall survival medical
standard of care medical
neoadjuvant medical
adjuvant medical
poly ADP-ribose polymerase (PARP) inhibitors medical
maintenance therapy medical
IL-12 immunotherapy medical
BLA filing regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
IMNN-001 is the First and Only frontline treatment candidate to demonstrate the potential for a clinically meaningful overall survival benefit in women newly diagnosed with ovarian cancer
Enrollment in the Phase 3 OVATION 3 Study of IMNN-001 is expected to be completed by Q1 2029, supported by remarkable Phase 2 data showing significant overall survival improvement
FDA has reviewed and is aligned with Phase 3 protocol, confirms path to BLA Filing
Company to hold conference call today at 11:00 a.m. ET
LAWRENCEVILLE, N.J., May 12, 2026 (GLOBE NEWSWIRE) -- IMUNON, Inc. (NASDAQ: IMNN), a clinical-stage company in late-stage development with its DNA-mediated immunotherapy, today reported financial results for the three months ended March 31, 2026, and highlighted recent business updates including progress in advancing Phase 3 clinical development of its lead candidate IMNN-001 in newly diagnosed advanced ovarian cancer.
“Enrollment in our pivotal Phase 3 OVATION 3 trial continues ahead of plan, reflecting patient interest and strong conviction among principal investigators and the broader medical community in IMNN-001’s therapeutic potential,” said Stacy Lindborg, Ph.D., President and Chief Executive Officer of IMUNON. “Coupled with the unprecedented overall survival benefit observed in our Phase 2 (OVATION 2) study and an aligned path to BLA filing, IMNN-001 is well positioned to potentially transform the standard of care in advanced ovarian cancer.”
RECENT DEVELOPMENTS
Final Phase 2 OVATION 2 Study Data Show Continued Overall Survival Improvement with IMNN-001 in Women with Newly Diagnosed Advanced Ovarian Cancer – On March 25, 2026, the Company announced final data from the completed Phase 2 OVATION 2 clinical trial evaluating IMNN-001 in combination with standard of care (SoC) neoadjuvant and adjuvant chemotherapy (N/ACT) in 112 women with newly diagnosed advanced ovarian cancer. IMUNON previously reported a median 11.1-month increase in overall survival (40.5 vs. 29.4 months) in the IMNN-001 treatment arm compared to SoC chemotherapy alone. Following the most recent and final data assessment, the Company reported a median 14.7-month increase in overall survival (45.1 vs. 30.4 months) in women in the IMNN-001 treatment arm compared to SoC alone, demonstrating continuous improvement in overall survival (3.6 months delta). In addition, the new IMNN-001 data showed that women treated with IMNN-001 and SoC chemotherapy plus poly ADP-ribose polymerase (PARP) inhibitors as part of maintenance therapy achieved a median increase in overall survival of 24.2 months (65.6 vs. 41.4 months) compared to SoC chemotherapy alone. Importantly, with these new efficacy results, IMNN-001 continues to show a highly favorable safety and tolerability profile across all clinical trials, further reinforcing the potential of this IL-12 immunotherapy to represent a landmark advance in treatment of this disease.
IMUNON Sharpens Focus on its Promising Pivotal Phase 3 Ovarian Cancer Study – On February 5, 2026, the Company announced a strategic reorganization, the goal of which was to reduce operating expenses while supporting the Company’s focused strategy to rapidly advance the pivotal Phase 3 OVATION 3 clinical trial.
FIRST QUARTER 2026 FINANCIAL RESULTS
Net loss for the first quarter of 2026 was
Research and development expenses increased to
General and administrative expenses remained unchanged at
Net cash used for operating activities was
As of March 31, 2026, cash and cash equivalents were
Conference Call and Webcast
The Company will be hosting a conference call to review first quarter 2026 financial results and provide a business update today, May 12, 2026, at 11:00 a.m. EDT. To participate in the call, please dial 800-715-9871 (U.S. and Canada/Toll Free) or 646-307-1963 (U.S./Toll) and ask for the IMUNON First Quarter 2026 Financial Results Call (Conference ID 8083343). A live webcast of the call will also be available here.
An audio replay of the call will be available for 90 days and can be accessed at 800-770-2030 (U.S. and Canada/Toll Free), 609-800-9909 (U.S./Toll) or 647-362-9199 (Canada/Toll) using replay access code 8083343#.
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) and is currently conducting a Phase 3 clinical trial (OVATION 3). The first patient was dosed in the Company’s Phase 3 pivotal study in the third quarter of 2025. 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 expected reduction of operating expenses related to the strategic reorganization, 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 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 |
| CG Life | ICR Healthcare |
| Jenna Urban | Peter Vozzo |
| 212-253-8881 | 443-213-0505 |
| jurban@cglife.com | peter.vozzo@icrhealthcare.com |
(Tables to Follow)
IMUNON, Inc.
Condensed Consolidated Statements of Operations
(in thousands except per share amounts)
| Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Operating expenses: | ||||||||
| Research and development | $ | 2,337 | $ | 2,165 | ||||
| General and administrative | 1,970 | 1,980 | ||||||
| Total operating expenses | 4,307 | 4,145 | ||||||
| Loss from operations | (4,307 | ) | (4,145 | ) | ||||
| Other income (expense): | ||||||||
| Investment and other income | 58 | 43 | ||||||
| Net loss | $ | (4,249 | ) | $ | (4,102 | ) | ||
| Net loss per common share | ||||||||
| Basic and diluted | $ | (0.84 | ) | $ | (3.15 | ) | ||
| Weighted average shares outstanding | ||||||||
| Basic and diluted | 5,029 | 1.301 | ||||||
| IMUNON, Inc. | ||||||||
| Selected Balance Sheet Information | ||||||||
| (in thousands) | ||||||||
| March 31, 2026 | December 31, 2025 | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 4,794 | $ | 8,781 | ||||
| Advances, deposits on clinical programs and other current assets | 1,827 | 1,943 | ||||||
| Total current assets | 6,621 | 10,724 | ||||||
| Property and equipment | 460 | 530 | ||||||
| Other assets | ||||||||
| Operating lease right-of-use assets | 888 | 984 | ||||||
| Deposits and other assets | 50 | 50 | ||||||
| Total other assets | 938 | 1,034 | ||||||
| Total assets | $ | 8,019 | $ | 12,288 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued liabilities | $ | 3,747 | $ | 4,218 | ||||
| Operating lease liability – current portion | 419 | 406 | ||||||
| Total current liabilities | 4,166 | 4,624 | ||||||
| Operating lease liability – noncurrent portion | 493 | 602 | ||||||
| Total liabilities | 4,659 | 5,226 | ||||||
| Stockholders' equity | ||||||||
| Common stock | 39 | 34 | ||||||
| Additional paid-in capital | 428,953 | 428,411 | ||||||
| Accumulated deficit | (425,547 | ) | (421,298 | ) | ||||
| 3,445 | 7,147 | |||||||
| Less: Treasury stock | (85 | ) | (85 | ) | ||||
| Total stockholders' equity | 3,360 | 7,062 | ||||||
| Total liabilities and stockholders' equity | $ | 8,019 | $ | 12,288 | ||||
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