Thu, Feb 27, 1:16 PM (58 days ago)
**Imunon, Inc. (IMNN) Summary of Financial Performance and Outlook** For the fiscal year ending December 31, 2024, Imunon, Inc. reported a net loss of $18.6 million, slightly improved from a loss of $19.5 million in 2023. The company has not generated revenue and has an accumulated deficit of approximately $407 million. Cash and cash equivalents stood at $5.9 million, raising concerns about its ability to continue as a going concern without additional funding. Research and development expenses were approximately $11.6 million, reflecting a slight increase from the previous year, while general and administrative costs decreased to $7.5 million. The company is focused on advancing its lead candidate, IMNN-001, a DNA-based immunotherapy for advanced ovarian cancer, and has received FDA Fast Track designation. Strategically, Imunon aims to secure additional capital through various means, including equity offerings and potential partnerships. The company faces significant competition in the biotechnology sector, particularly in immunotherapy and vaccine development. Risk factors include regulatory approval uncertainties, reliance on third-party manufacturers, and the need for ongoing funding to support clinical trials and operations. The outlook remains cautious, with substantial efforts needed to achieve future profitability and operational stability.