IMUNON Reports Second Quarter 2026 Financial Results and Provides Business Update
IMNN-001 is the first frontline treatment candidate to demonstrate the potential for a clinically meaningful overall survival benefit in women newly diagnosed with ovarian cancer
Enrollment in the Phase 3 OVATION 3 Study of IMNN-001 is expected to be completed by the first half of 2029, supported by strong Phase 2 clinical data showing significant overall survival benefit
Company to hold conference call today at
“The second quarter brought continued momentum for IMNN-001,” said
“We were also encouraged by new preliminary data from our ongoing Phase 2 minimal residual disease (MRD) study, which showed a deeper antitumor response in patients treated with IMNN-001, including higher rates of circulating tumor DNA clearance and no evidence of disease following frontline therapy. We believe these findings provide further independent evidence of IMNN-001’s biological activity and reinforce the mechanism underlying the survival benefit observed in the OVATION 2 study, while we remain fully focused on our highest priority of efficiently advancing OVATION 3. Based on the data generated to date, we believe IMNN-001 has the potential to become the first frontline immunotherapy to meaningfully improve overall survival in advanced ovarian cancer and establish a new standard of care for women facing this disease.”
RECENT DEVELOPMENTS
IMNN-001
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Corporate Development:
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Upcoming Events:
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FINANCIAL RESULTS FOR THE SECOND QUARTER 2026
Net loss for the second quarter of 2026 was
Research and development expenses increased to
General and administrative expenses decreased to
FINANCIAL RESULTS FOR THE SIX MONTHS ENDED
Net loss for the first half of 2026 was
Research and development expenses increased to
General and administrative expenses decreased to
Net cash used for operating activities was
Conference Call and Webcast
The Company will be hosting a conference call to review second quarter 2026 financial results and provide a business update today,
An audio replay of the call will be available for 90 days and can be accessed at (800) 770-2030 (
About IMUNON
IMUNON is a clinical-stage biotechnology company focused on advancing a portfolio of innovative treatments that harness the body’s natural mechanisms to generate safe, effective and durable responses across a broad array of human diseases, constituting a differentiating approach from conventional therapies. IMUNON is developing its non-viral DNA technology across its modalities. The first modality, TheraPlas®, is developed for the gene-based delivery of cytokines and other therapeutic proteins in the treatment of solid tumors where an immunological approach is deemed promising. The second modality, PlaCCine®, is developed for the gene delivery of viral antigens that can elicit a strong immunological response.
The Company’s lead clinical program, IMNN-001, is a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer that has completed multiple clinical trials including one Phase 2 clinical trial (OVATION 2) and is currently conducting a Phase 3 clinical trial (OVATION 3). The first patient was dosed in the Company’s Phase 3 pivotal study in the third quarter of 2025. IMNN-001 works by instructing the body to produce safe and durable levels of powerful cancer-fighting molecules, such as interleukin-12 and interferon gamma, at the tumor site. Additionally, the Company has completed a first-in-human study of its COVID-19 booster vaccine (IMNN-101). The Company will continue to leverage these modalities and to advance, either directly or through partnership, the technological frontier of plasmid DNA to better serve patients with difficult-to-treat conditions. For more information, please visit www.imunon.com.
Forward-Looking Statements
IMUNON wishes to inform readers that forward-looking statements in this news release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, but not limited to, statements regarding the timing of enrollment of the Company’s clinical trials, the potential of any therapies developed by the Company to fulfill unmet medical needs, the market potential for the Company’s products, if approved, the potential efficacy and safety profile of our product candidates, and the Company’s plans and expectations with respect to its development programs more generally, are forward-looking statements. We generally identify forward-looking statements by using words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances), and include statements regarding our planned stock split. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, risks and uncertainties related to unforeseen changes in the course of research and development activities and in clinical trials, including the fact that interim results are not necessarily indicative of final results; the uncertainties of and difficulties in analyzing interim clinical data; the significant expense, time and risk of failure in conducting clinical trials; the need for IMUNON to evaluate its future development plans; possible actions by customers, suppliers, competitors or regulatory authorities; and other risks detailed from time to time in IMUNON’s filings with the Securities and Exchange Commission. IMUNON assumes no obligation, except to the extent required by law, to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
Investor Contact:
Valter Pinto
KCSA Strategic Communications
212-896-1254
imunon@kcsa.com
(Tables to Follow)
IMUNON, Inc.
Condensed Consolidated Statements of Operations
(in thousands except per share amounts)
| Three Months Ended |
Six Months Ended |
|||||||||||||||
| 2025 | 2025 | 2026 | 2025 | |||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | $ | 1,465 | $ | 1,227 | $ | 3,802 | $ | 3,392 | ||||||||
| General and administrative | 1,327 | 1,541 | 3,296 | 3,521 | ||||||||||||
| Total operating expenses | 2,792 | 2,768 | 7,098 | 6,913 | ||||||||||||
| Loss from operations | (2,792 | ) | (2,768 | ) | (7,098 | ) | (6,913 | ) | ||||||||
| Other (expense) income: | ||||||||||||||||
| Other income(loss), net | (22 | ) | 27 | 35 | 70 | |||||||||||
| Net loss | $ | (2,814 | ) | $ | (2,741 | ) | $ | (7,063 | ) | $ | (6,843 | ) | ||||
| Net loss per common share | ||||||||||||||||
| Basic and diluted | $ | (0.54 | ) | $ | (2.15 | ) | $ | (1.38 | ) | $ | (6.08 | ) | ||||
| Weighted average shares outstanding | ||||||||||||||||
| Basic and diluted | 5,233 | 1,277 | 5,134 | 1,124 | ||||||||||||
Selected Balance Sheet Information
(in thousands)
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 6,864 | $ | 8,781 | ||||
| Advances, deposits on clinical programs and other current assets | 1,827 | 1,943 | ||||||
| Total current assets | 8,691 | 10,724 | ||||||
| Property and equipment | 459 | 530 | ||||||
| Other assets | ||||||||
| Restricted Cash | 5,000 | - | ||||||
| Operating lease right-of-use assets | 789 | 984 | ||||||
| Deposits and other assets | 50 | 50 | ||||||
| Total other assets | 5,839 | 1,034 | ||||||
| Total assets | $ | 14,989 | $ | 12,288 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued liabilities | $ | 2,847 | $ | 4,218 | ||||
| Note payable – current portion Note A | 1,500 | - | ||||||
| Operating lease liability – current portion | 432 | 406 | ||||||
| Total current liabilities | 4,779 | 4,624 | ||||||
| Note Payable – Note A | 673 | - | ||||||
| Note Payable – Note B | 4,861 | - | ||||||
| Operating lease liability – noncurrent portion | 379 | 602 | ||||||
| Derivative liability | 108 | - | ||||||
| Total liabilities | 10,800 | 5,226 | ||||||
| Stockholders’ equity | ||||||||
| Preferred stock, including additional paid-in capital | 2,252 | - | ||||||
| Common stock | 47 | 34 | ||||||
| Additional paid-in capital | 430,336 | 428,411 | ||||||
| Accumulated deficit | (428,631 | ) | (421,298 | ) | ||||
| 4,274 | 7,147 | |||||||
| Less: |
(85 | ) | (85 | ) | ||||
| Total stockholders’ equity | 4,189 | 7,062 | ||||||
| Total liabilities and stockholders’ equity | $ | 14,989 | $ | 12,288 | ||||
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Source: Imunon, Inc.
