Company: IMNN
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001641172-25-013088
Chunk: 9

Company: Imunon, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 9
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daq Listing Rule 5550(b)(1), which requires listed companies to maintain stockholders’ equity of at least $2,500,000 or meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations, which the Company does not currently meet. Nasdaq’s notice has no immediate effect on the listing of the Company’s Common Stock on Nasdaq, which continues to trade under the symbol “IMNN.” Pursuant to the notice and the Listing Rules of Nasdaq, Nasdaq has provided the Company with 45 calendar days, or until July 3, 2025, to submit a plan to regain compliance with the minimum stockholders’ equity requirement. If the Company’s plan to regain compliance is accepted, the Staff can grant an extension of up to 180 calendar days from the date of the Notice to evidence compliance. If the Company’s plan to regain compliance is not accepted, or if it is accepted and the Company does not regain compliance in the timeframe required by Nasdaq, the Staff could provide notice that the Company’s shares of common stock are subject to delisting. In such an event, the Company would have the right to request a hearing before a Nasdaq Hearings Panel. The Company is currently evaluating options to regain compliance and intends to timely submit a plan to regain compliance with the minimum stockholders’ equity requirement. Although the Company intends to use all reasonable efforts to achieve compliance with the minimum stockholders’ equity requirement, there can be no assurance that the Company will be able to regain compliance with the minimum stockholders’ equity requirement or that the Company will otherwise be in compliance with other applicable Nasdaq listing criteria. The notice is unrelated to the Company’s previously disclosed deficiency relating to Nasdaq’s minimum bid price requirement.

On
November 26, 2024, we received a notice from the Staff notifying us that, based upon the closing bid price of our Common Stock, for the
30 consecutive business days prior to the notice, we no longer met the requirement to maintain a minimum closing bid price of $1.00 per
share, as set forth in Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we were granted 180 calendar
days, or until May 27, 2025, to regain compliance with the minimum bid price rule. To regain compliance, the closing bid price of our
Common Stock was required to be $1.00 per share or more for a minimum