Imunon Inc Stock Price, News & Analysis

IMUNON, a clinical-stage drug-development company, presented findings on its DNA-based immunotherapy, IMNN-001, at the AACR Annual Meeting on April 18, 2023. The study evaluated three dosing regimens for the treatment of advanced ovarian cancer using a mouse model. IMNN-001, in Phase 2 trials, showed that a biweekly dosing regimen was comparable to weekly dosing but more effective than a three-week regimen in reducing tumor burden and mortality. These results support further exploration of biweekly dosing in human studies. Dr. Corinne Le Goff, CEO of IMUNON, expressed excitement over the presentation and highlighted the implications for upcoming clinical studies involving IMNN-001 and bevacizumab.

IMUNON, Inc. (NASDAQ: IMNN) announced its 2022 financial results, reporting a net loss of $35.9 million, or $5.03 per share, an increase from $20.8 million in 2021. Operating expenses rose to $25.4 million, up 18% year-over-year. The company made progress in its clinical programs, including completing enrollment in the Phase 1/2 OVATION 2 Study for IMNN-001 in advanced ovarian cancer. IMUNON reported cash of $38.9 million as of December 31, 2022, expected to fund operations into 2025. The company also highlighted promising preclinical data for its PLACCINE vaccine technology and plans to file an Investigational New Drug (IND) application for a COVID-19 booster vaccine in 2023.

IMUNON (NASDAQ: IMNN), a clinical-stage drug-development company, will host a conference call on March 30, 2023, at 11:00 a.m. ET to discuss its Q4 and full-year financial results for 2022. The company will also update on IMNN-001, its Phase 2 immunotherapy targeting advanced ovarian cancer, and its preclinical studies of PLACCINE, a novel plasmid technology aiming to outperform current mRNA vaccines. Interested parties can join via phone or listen online, with an archived replay available until April 13, 2023. IMUNON focuses on DNA-mediated immunotherapy and next-gen vaccines aimed at various diseases.

IMUNON, a clinical-stage biotechnology company, presented promising preclinical data for its PLACCINE platform at the Vaccine Technology Summit 2023. The data indicates robust immunogenicity and protection in SARS-CoV-2 models, with durable cellular responses lasting over 12 months. Notably, compared to a commercial mRNA vaccine, the PLACCINE demonstrated superior immune quality in single-dose tests and comparable protection in booster-dose assessments. The platform offers advantages such as a shelf-life exceeding nine months at 4°C and efficient manufacturing capabilities. IMUNON is advancing its innovative DNA-mediated immunotherapy and next-gen vaccines to combat various diseases.

Imunon, Inc. (NASDAQ: IMNN) announced the approval of equity awards as inducements for two new employees. The Compensation Committee granted stock options to purchase 5,250 shares at an exercise price of $1.32, equal to the closing price on March 17, 2023. These options will vest over four years, starting after one year of employment. Additionally, 1,100 shares of restricted stock were granted, vesting after one year. Imunon is advancing DNA-based immunotherapy and vaccines, with its lead program IMNN-001 in Phase 2 development for advanced ovarian cancer.

IMUNON (NASDAQ: IMNN) announced the acceptance of an abstract on its DNA-based immunotherapy, IMNN-001, for presentation at the AACR Annual Meeting from April 14-19, 2023. The abstract, titled "Efficacy of GEN-1, an interleukin-12 immune gene therapy, at different dose frequencies," will be presented on April 18, 2023, from 9:00 AM to 12:30 PM at the Orange County Convention Center in Orlando, FL. The company continues to advance its clinical-stage immunotherapy for advanced ovarian cancer, seeking to harness the body's immune response to improve treatment outcomes.

IMUNON (NASDAQ: IMNN) recently shared key achievements from 2022 and outlined strategic objectives for 2023. Dr. Corinne Le Goff, CEO, highlighted a transformative shift, including the company’s rebranding and an innovative focus on DNA-based immunotherapies and vaccines. The company raised over $60 million from common stock sales, ending Q3 2022 with $43.4 million in cash and investments. Significant milestones include the enrollment of 110 patients in the OVATION 2 Study for the IL-12 gene therapy, IMNN-001, and advancements in the PLACCINE vaccine technology, showing promising results in animal studies. They anticipate filing an IND application for a COVID-19 booster vaccine in 2023.

IMUNON (NASDAQ: IMNN) announces the start of patient enrollment in a collaboration with Break Through Cancer to evaluate IMNN-001 in combination with bevacizumab for advanced ovarian cancer. This Phase 1/2 trial at MD Anderson aims to enroll 50 patients, focusing on minimal residual disease detection and progression-free survival. Initial results are expected within a year, with final data anticipated in three years. IMUNON will invest $2.0-$2.5 million towards the trial, which aims to enhance treatment outcomes for Stage III/IV ovarian cancer patients, characterized by low cure rates.

IMUNON, Inc. (NASDAQ: IMNN) has secured $1.6 million from the sale of unused New Jersey net operating losses (NOLs) through the NJEDA's Technology Business Tax Certificate Transfer program. This funding strengthens its balance sheet and extends its operational runway into 2025. The company plans to sell an additional $1.8 million in NOLs in 2023. In the past five years, IMUNON has generated over $18 million from NOL sales, enhancing its capacity for research and development amid challenging capital markets.