Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 7

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
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 most recent balance sheet date have been evaluated for their possible impact on the financial statements and accompanying notes.

Going Concern Uncertainty

Since inception, the Company has incurred substantial
operating losses, principally from expenses associated with the Company’s research and development programs, clinical trials conducted
in connection with the Company’s drug candidates, and applications and submissions to the FDA. The Company has not generated significant
revenue and has incurred significant net losses in each year since inception. For the quarter ended March 31, 2025, the Company had a
net loss of $4.1 million and used $2.8 million to fund operations. As of March 31, 2025, the Company has incurred approximately $411 million
of cumulative net losses. As of March 31, 2025, the Company had $2.9 million in cash and cash equivalents to fund its operations.

The Company’s ability to raise additional capital
may be adversely impacted by potential worsening global economic conditions and the recent disruptions to, and volatility in, financial
markets in the U.S. and worldwide resulting from the recent tariff announcement by the U.S. federal government, the Russian invasion of
Ukraine and the unrest in the Middle East. The Company continues to monitor its operating activities in light of these events, and it
is possible that these events could result in a variety of risks to the business. The specific impact, if any, is not readily determinable
as of the date of these consolidated Financial Statements.

The Company has based its estimates on assumptions
that may prove to be wrong. The Company may need to obtain additional funds sooner or in greater amounts than it currently anticipates.
Potential sources of financing include strategic relationships, public or private sales of the Company’s shares or debt and other
sources. If the Company raises funds by selling additional shares of common stock or other securities convertible into common stock, the
ownership interest of existing stockholders may be diluted.

The actual amount of funds the Company will need to
operate is subject to many factors, some of which are beyond the Company’s control. These factors include the progress of research
activities; the number and scope of research programs; the progress of preclinical and clinical development activities; the progress of
the development efforts of parties with whom the Company has entered into research and development agreements; the costs associated with
additional clinical trials of drug candidates; the ability to maintain current research and development licensing arrangements and to
establish new research and development and licensing arrangements; the ability to achieve milestones