IMUNON Reports Second Quarter 2025 Financial Results and Provides Business Update

Core Insights - IMUNON, Inc. is advancing its clinical programs, particularly the Phase 3 OVATION 3 Study of IMNN-001 for newly diagnosed advanced ovarian cancer, reflecting confidence in its long-term growth strategy and commitment to shareholders [1][2][10] Recent Developments - The first patient was dosed in the Phase 3 OVATION 3 Study on July 30, 2025, with a goal of activating 20 clinical sites by the end of 2025 [3] - The OVATION 3 trial will compare IMNN-001 combined with chemotherapy against standard care, focusing on overall survival and other key efficacy endpoints [4] - Positive data from the Phase 2 OVATION 2 Study was presented at the 2025 ASCO Annual Meeting, showing significant improvements in overall survival and safety profile for IMNN-001 [5][6] Financial Highlights - For Q2 2025, the company reported a net loss of $2.7 million, a reduction from $4.8 million in Q2 2024, with operating expenses decreasing by 45% [17] - R&D expenses for Q2 2025 were $1.2 million, down from $2.8 million in Q2 2024, primarily due to lower costs associated with clinical trials [18] - As of June 30, 2025, cash and cash equivalents were $4.7 million, with additional funds raised through warrant exercises and sales under its ATM facility [20] Corporate Actions - A 15% stock dividend was announced, reflecting the company's confidence in its clinical programs and commitment to shareholder value [10] - A reverse stock split of 15-for-1 was executed on July 25, 2025, consolidating shares to improve market perception [14] - The company received an extension from Nasdaq to complete its compliance plan, allowing it to maintain its listing [13] Clinical Program Overview - IMNN-001 is a DNA-based immunotherapy targeting advanced ovarian cancer, with a mechanism that promotes the production of cancer-fighting molecules at the tumor site [29] - The OVATION 3 Study aims to evaluate the safety and efficacy of IMNN-001 in combination with standard chemotherapy for patients with advanced ovarian cancer [4][11]