Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 124

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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 Clinical costs associated with the OVATION program were $0.2 million in the first quarter of 2025 compared to $0.3 million in 2024. Clinical costs
associated with the PlaCCine vaccine trial were $58,000 in the first quarter of 2025 compared to $0.6 million in the first quarter of
2024. Other clinical and regulatory costs were $0.6 million the first quarter of 2025 compared to $0.5 million in the same period of
2024. R&D costs associated with the development of IMNN-001 to support the OVATION program were $0.9 million in the first quarter
of 2025 compared to $0.4 million in same period of 2024. The development of the PLACCINE DNA vaccine technology platform was $1.2 million
in the first quarter of 2024. CMC costs were $0.4 million in the first quarter of 2025 compared to $0.3 million in the same period of
2024.

General
and Administrative Expenses

General
and administrative expenses were $2.0 million in the first quarter of 2025 compared to $1.7 million in the same period of 2024. The increase
was primarily attributable to higher employee-related expenses of $0.5 million offset by lower legal expenses of $0.2 million.

Investment
income from the Company’s short-term investments was $43,000 for the first quarter of 2025 compared to $82,000 for the same period
in 2024.

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 $411 million
at March 31, 2025.

At
March 31, 2025, we had total current assets of $5.1 million and current liabilities of $5.8 million, resulting in