Company: IMNN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022120
Chunk: 44

Company: Imunon, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 44
---
 of the PLACCINE DNA vaccine
technology platform was $2.5 million in the first nine months of 2024. CMC costs were $0.7 million in the first nine months of 2025 compared
to $1.6 million in the same period of 2024.

General
and Administrative Expenses

General
and administrative expenses were $5.1 million in the first nine months of 2025 compared to $5.6 million in the same period of 2024. The
decrease was primarily attributable to lower employee-related and professional expenses of $0.2 million and lower travel costs of $0.1
million.

Investment
income from the Company’s short-term investments was $117,000 for the first nine months of 2025 compared to $423,000 for the same
period in 2024 due to cash balance.

FINANCIAL
CONDITION, LIQUIDITY AND CAPITAL RESOURCES

Since
inception, we have incurred significant losses and negative cash flows from operations. We have financed our operations primarily through
the net proceeds from the sales of equity, credit facilities and amounts received under product licensing agreements. The process of
developing IMNN-001 and other drug candidates and technologies requires significant research and development work and clinical trial
studies, as well as significant manufacturing and process development efforts. We expect these activities, together with our general
and administrative expenses, to result in significant operating losses for the foreseeable future. Our expenses have significantly and
regularly exceeded our income, and we had an accumulated deficit of $419 million at September 30, 2025.

At
September 30, 2025, we had total current assets of $7.3 million and current liabilities of $4.2 million, resulting in a net working capital
of $3.1 million. At September 30, 2025, we had cash and cash equivalents of $5.3 million. At December 31, 2024, we had total current
assets of $8.0 million and current liabilities of $4.8 million, resulting in net working capital of $3.2 million. We have substantial
future capital requirements to continue our research and development activities and advance our drug candidates through various development
stages. The Company believes these expenditures are essential for the commercialization of its technologies.

Net
cash used in operating activities for the first nine months of 2025 was $10.3 million. Net cash used by