Company: IMNN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022120
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Company: Imunon, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
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NOTES
TO THE CONDENSED CONSOLIDATED

FINANCIAL
STATEMENTS

(UNAUDITED)

SEPTEMBER
30, 2025 

Note
1. Business Description

Imunon,
Inc. (“Imunon” or the “Company”) is a clinical-stage biotechnology company focused on advancing a portfolio of
innovative treatments that harness the body’s natural mechanisms with the aim to generate safe, effective and durable responses
across a broad array of human diseases, constituting a differentiating approach from conventional therapies. Imunon is developing its
non-viral DNA technology across its modalities. The first modality, TheraPlas®, is developed for the coding of proteins and cytokines
in the treatment of solid tumors where an immunological approach is deemed promising. The second modality, PlaCCine®, is developed
for the coding of viral antigens that can elicit 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) and is currently conducting a Phase 3 clinical
trial (OVATION 3). 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 accounting principles generally accepted in the United States of America
(“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 and nine-month period
ended September 30, 2025, there were no changes to the Company’s accounting policies. Certain information and