Company: IMNN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022120
Chunk: 42

Company: Imunon, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 42
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2024 due to cash balance.

FINANCIAL
REVIEW FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024

Results
of Operations

For
the nine months ended September 30, 2025, our net loss was $10.3 million compared to a net loss of $14.6 million for the same nine-month
period of 2024.

With
$5.3 million in cash and cash equivalents at September 30, 2025, such conditions raise substantial doubts about the Company’s ability
to continue as a going concern. Based on the above, management has determined there is substantial doubt regarding our ability to continue
a going concern.

Management’s
plan includes raising funds from the issuance and sale of its common stock via its ATM program and other funding transactions. However,
as mentioned above, there is no assurance such funding will be available to the Company or that it will be obtained on terms favorable
to the Company or will provide the Company with sufficient funds to meet its objectives. The Company’s financial statements do
not include any adjustments relating to the recoverability and classification of assets, carrying amounts or the amount and classification
of liabilities that may be required should the Company be unable to continue as a going concern.

    For the nine months ended September 30, 

    (In thousands)  
    Change Increase (Decrease) 

    2025  
    2024  

    Operating Expenses: 

    Clinical Research 

    OVATION 2 and MRD Trials 
    $212  
    $1,139  
    $(927) 
     (81.4)%
  
    OVATION 3 Trial 
     695  
     -  
     695  
     -%
  
    PlaCCine Vaccine Phase 1 Trial 
     42  
     1,412  
     (1,370) 
     (97.0)%
  
    Other Clinical and regulatory 
     1,387  
     1,900  
     (513) 
     (27.0)%
  
    Subtotal 
     2,336  
     4,451  
     (2,115) 
     (47.5)%
  
    Non-Clinical R&D and CMC 

    OVATION Program 
     2,209