Imunon(US:IMNN)2025-11-13 12:48Financial Performance - Net loss for Q3 2025 was $3.4 million, or $1.16 per share, compared to a net loss of $4.8 million, or $3.76 per share, in Q3 2024, representing a 29.2% improvement in loss per share[16] - For the nine months ended September 30, 2025, the net loss was $10.3 million, or $5.53 per share, compared to a net loss of $14.6 million, or $14.13 per share, for the same period in 2024, indicating a 60.9% improvement in loss per share[20] - The net loss for the three months ended September 30, 2025, was $3.429 million, compared to a net loss of $4.845 million for the same period in 2024, representing a 29% improvement[32] - The company reported a basic and diluted net loss per common share of $1.16 for the three months ended September 30, 2025, compared to $3.76 for the same period in 2024[32] Operating Expenses - Operating expenses decreased by 30% to $3.5 million in Q3 2025 from $5.0 million in Q3 2024[16] - Total operating expenses for the nine months ended September 30, 2025, were $10.4 million, a decrease of 31% from $15.0 million in the same period of 2024[20] - For the three months ended September 30, 2025, total operating expenses were $3.476 million, a decrease of 30% compared to $4.961 million for the same period in 2024[32] Research and Development - R&D expenses for Q3 2025 were $1.9 million, down from $3.3 million in Q3 2024, primarily due to lower costs associated with the OVATION 2 Study and the Phase 1 PlaCCine DNA vaccine trial[17] - R&D expenses for the first nine months of 2025 were $5.3 million, down from $9.4 million in the same period of 2024, with significant reductions in clinical costs associated with the OVATION 2 and MRD trials[22] - The Phase 2 OVATION 2 study demonstrated a median overall survival benefit of 13 months with IMNN-001 plus standard of care chemotherapy compared to standard of care alone[5] - IMUNON has completed dosing in a first-in-human study of its COVID-19 booster vaccine (IMNN-101)[28] - The company is focused on leveraging its non-viral DNA technology to develop innovative treatments for difficult-to-treat conditions[27] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were $5.3 million, with $4.5 million in net proceeds received during Q3 from warrant exercises and sales under the ATM facility[19] - As of September 30, 2025, total current assets were $7.258 million, down from $8.009 million as of December 31, 2024[34] - Total assets decreased to $8.988 million as of September 30, 2025, from $9.717 million as of December 31, 2024[34] - The company’s additional paid-in capital increased to $421.213 million as of September 30, 2025, from $411.122 million as of December 31, 2024[34] Liabilities - Current liabilities were $4.198 million as of September 30, 2025, compared to $4.786 million as of December 31, 2024, indicating a reduction of 12%[34] Strategic Partnerships and Future Outlook - IMUNON is actively seeking strategic partnerships to leverage the PlaCCine platform's advantages, including enhanced durability and temperature stability, to address unmet needs in vaccines[15] - The company believes it has sufficient capital resources to fund its planned operations into Q1 2026[19] - The company is advancing its lead clinical program, IMNN-001, for the treatment of advanced ovarian cancer, with the first patient dosed in the Phase 3 clinical trial (OVATION 3) in Q3 2025[28]