Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 6

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 6
---
 a strong immunological response. This
technology may represent a promising platform for the development of vaccines in infectious diseases.

The Company’s lead clinical program, IMNN-001,
is a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer that has completed multiple clinical trials including
one Phase II clinical trial (OVATION 2). 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. Additionally, the Company has completed dosing in a first-in-human
study of its COVID-19 booster vaccine (IMNN-101). The Company will continue to leverage these modalities and to advance, either directly
or through partnership, the technological frontier of plasmid DNA to better serve patients with difficult-to-treat conditions.

Note 2. Basis of Presentation

The accompanying unaudited condensed consolidated
financial statements, which include the accounts of the Company and its wholly owned subsidiaries, have been prepared in accordance with
generally accepted accounting principles in the United States (“GAAP”) for interim financial information and with the instructions
to Form 10-Q and Article 10 of Regulation S-X. All significant intercompany balances and transactions have been eliminated in consolidation.
During the quarter ended March 31, 2025, there were no changes to the Company’s accounting policies. Certain information and
disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such
rules and regulations.

In the opinion of management, all adjustments, consisting
only of normal recurring accruals considered necessary for a fair presentation, have been included in the accompanying unaudited condensed
consolidated financial statements. Operating results for the three months ended March 31, 2025 and 2024 are not necessarily indicative
of the results that may be expected for any other interim period(s) or for any full year. For further information, refer to the consolidated
financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31,
2024, filed with the Securities and Exchange Commission on February 27, 2025.

The preparation of financial statements in conformity
with GAAP requires management to make judgments, estimates, and assumptions that affect the amounts reported in the Company’s financial
statements and accompanying notes. Actual results could differ materially from those estimates. Events and conditions arising subsequent
to the