Company: IMNN
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001493152-25-011598
Chunk: 2

Company: Imunon, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part II, Item 1A
Chunk 2
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 on Nasdaq under the minimum closing bid price and stockholders’ equity listing requirements.

31

If
our Common Stock were to be delisted by Nasdaq, it may be eligible for quotation on an over-the-counter quotation system or on the pink
sheets. Upon any such delisting, our Common Stock would become subject to the regulations of the SEC relating to the market for penny
stocks. A penny stock is any equity security not traded on a national securities exchange that has a market price of less than $5.00
per share. The regulations applicable to penny stocks may severely affect the market liquidity for our Common Stock and could limit the
ability of stockholders to sell securities in the secondary market. In such a case, an investor may find it more difficult to dispose
of or obtain accurate quotations as to the market value of our Common Stock, and there can be no assurance that our Common Stock will
be eligible for trading or quotation on any alternative exchanges or markets.

Delisting
from Nasdaq could adversely affect our ability to raise additional financing through public or private sales of equity securities, would
significantly affect the ability of investors to trade our securities and would negatively affect the value and liquidity of our Common
Stock. Delisting could also have other negative results, including the potential loss of confidence by employees, the loss of institutional
investor interest and fewer business development opportunities.

We
will need to raise additional capital to fund our planned future operations, and we may be unable to secure such capital without significant
dilutive financing transactions, or at all. If we are not able to raise additional capital, we may not be able to complete the development,
testing and commercialization of our drug candidates and will not be able to continue as a going concern.

We
have not generated significant revenue and have incurred significant net losses in each year since our inception. For the six months
ended June 30, 2025 and the year ended December 31, 2024, we incurred a net loss of $6.8 million and $18.6 million, respectively, and
used $5.8 million and $18.9 million, respectively, to fund operations. As of June 30, 2025, we have incurred approximately $414 million
of cumulative net losses. As of June 30, 2025 and December 31, 2024, we had cash and cash equivalents of $4.7 million and $5.9 million,
respectively.

We
have substantial future