Financial Performance - IMUNON reported a net loss of 19.5 million in 2023, resulting in a loss per share of 2.16 in the previous year[15]. - Operating expenses for 2024 were 21.0 million in 2023[15]. - General and administrative expenses decreased by 23% to 0.5 million in 2024 from 19.132 million, down from 18.620 million, compared to a net loss of 8.009 million in 2024 from 5.873 million in 2024 from 5.473 million in 2024 from 0.2 million in interest expense in the first half of 2023 related to the terminated loan facility[23]. - The weighted average shares outstanding increased to 11.508 million in 2024 from 9.045 million in 2023[28]. Research and Development - Research and development (R&D) expenses were 11.3 million in 2023, with costs associated with the OVATION 2 Study at $1.4 million[16]. - The lead clinical program, IMNN-001, has completed Phase 2 development for advanced ovarian cancer treatment[24]. - IMUNON plans to initiate a Phase 3 pivotal trial of IMNN-001 in advanced ovarian cancer in Q1 2025[3]. - The Phase 1 clinical trial of IMNN-101 demonstrated a persistent 2- to 4-fold increase in serum neutralizing antibody titers, indicating strong immunogenicity[9]. - IMUNON received positive feedback from the FDA regarding the Chemistry, Manufacturing, and Controls (CMC) for IMNN-001, supporting its production for the upcoming Phase 3 trial[5]. Clinical Outcomes - The median overall survival for patients treated with IMNN-001 plus standard-of-care chemotherapy increased to 13 months, compared to 11.1 months previously, with a hazard ratio improvement from 0.74 to 0.69[6]. - More than one-third of patients in the trial survived over 36 months, with 62% from the IMNN-001 treatment arm[6]. Technology Development - The company is advancing its non-viral DNA technology, including the development of its COVID-19 booster vaccine (IMNN-101)[24].
Imunon(IMNN) - 2024 Q4 - Annual Results