Imunon, Inc. (IMNN) Q3 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2025
0mins
Source: SeekingAlpha
Cash and Cash Equivalents $5.3 million as of September 30, 2025. This reflects a $4.5 million increase from warrant exercises and ATM equity facility sales during the quarter.
R&D Expenses $1.9 million for Q3 2025, down from $3.3 million in Q3 2024, a 44% decrease. This reduction is attributed to the completion of the OVATION 2 study and lower costs for the Phase I Plaque in DNA vaccine trial and development.
G&A Expenses $1.6 million for Q3 2025, down from $1.7 million in Q3 2024, a 5.9% decrease. This decrease is due to lower employee-related, legal, and travel expenses.
Net Loss $3.4 million or $1.16 per share for Q3 2025, compared to $4.8 million or $3.76 per share in Q3 2024. This represents a 29.2% decrease in net loss, driven by reduced R&D and G&A expenses.
Operating Expenses 31% lower for the nine months ended September 30, 2025, compared to the same period in 2024. This includes a 44% decrease in R&D expenses and a 52% decrease in CMC expenses.
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Analyst Views on IMNN
Wall Street analysts forecast IMNN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IMNN is 12.00 USD with a low forecast of 12.00 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 3.400
Low
12.00
Averages
12.00
High
12.00
Current: 3.400
Low
12.00
Averages
12.00
High
12.00
About IMNN
Imunon, Inc. is a clinical-stage biotechnology company. The Company is focused on advancing a portfolio of treatments that harness the body’s natural mechanisms across an array of human diseases, constituting a differentiating approach from conventional therapies. The Company 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. 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 Phase 2 development. 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.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
IMUNON Secures $7 Million from Institutional Investor in Direct Stock Offering
- Financing Agreement Reached: IMUNON has entered into a securities purchase agreement with a healthcare-focused institutional investor to sell 1,939,114 shares of common stock and associated warrants, with expected gross proceeds of approximately $7 million, enhancing the company's liquidity to support its clinical-stage immunotherapy development.
- Warrant Details: Each share is priced at $3.61, with warrants having an exercise price of $3.482, which will be exercisable immediately and expire in five years, providing the company with additional capital sources to drive future R&D efforts.
- Market Reaction Anticipated: The offering is expected to close on December 31, 2025, and if successful, will help IMUNON maintain compliance with Nasdaq requirements and avoid potential delisting risks, thereby boosting investor confidence.
- Registration Statement Background: The securities are being offered under a Form S-3 registration statement declared effective on May 22, 2024, ensuring compliance and laying the groundwork for future financing activities, demonstrating the company's flexibility and adaptability in capital markets.
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IMUNON Advances OVATION3 Study, Aiming for Breakthrough Therapy
- Significant Clinical Progress: IMUNON initiated its pivotal Phase 3 OVATION3 study in 2025, evaluating IMNN-001 in combination with standard chemotherapy, demonstrating strong clinical momentum that could redefine treatment standards for ovarian cancer.
- Survival Extension: The Phase 2 OVATION2 study revealed a 13-month median overall survival extension in the intent-to-treat population with IMNN-001, and in patients receiving PARP inhibitors, the median survival has not yet been reached, indicating its potential therapeutic advantage.
- Immunotherapy Promise: New data indicates that IMNN-001 activates the tumor microenvironment, leading to IL-12 production and enhanced T cell functions, showcasing its broad applicability in frontline ovarian cancer treatment.
- Financial Discipline: IMUNON maintained financial discipline in 2025, planning to invest $30 million in the OVATION3 trial, reflecting the company's confidence in its R&D and market opportunities.
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