Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 15

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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As of March 31, 2025, there was $0.5
million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements. That cost is expected to
be recognized over a period of three 3to four
years. The weighted average grant date fair values of the stock options granted were $0.81
during the three-month periods ended March 31, 2025.

The fair values of stock options granted were estimated
at the date of grant using the Black-Scholes option pricing model. The Black-Scholes model was originally developed for use in estimating
the fair value of traded options, which have different characteristics from the Company’s stock options. The model is also sensitive
to changes in assumptions, which can materially affect the fair value estimate. The Company used the following assumptions for determining
the fair value of options granted under the Black-Scholes option pricing model:

 Schedule of Assumptions Used to Determine Fair Value of Options Granted

    For
the Three Months Ended
                    March 31, 

    2025  
    2024 
  
    Risk-free interest rate 
     4.31
to 4.55% 
     4.31%
  
    Expected volatility 
     110.74
to 115.63% 
     111.82%
  
    Expected life (in years) 
     9.0 to 10.0   
     9.0 to 10.0  
  
    Expected dividend yield 
     0.0% 
     0.0%

Expected volatilities utilized in the model are based
on historical volatility of the Company’s stock price. The risk-free interest rate is derived from values assigned to U.S. Treasury
bonds with terms that approximate the expected option lives in effect at the time of grant.

    12

Note 9. Warrants

Following is a summary of all warrant activity for
the three-month period ended March 31, 2025:

 Summary of Warrant Activity

    Warrants  
    Number of Warrants Issued  
    Weighted Average Exercise Price 

    Warrants outstanding at December 31, 2024  
     5,155,060  
    $2.51 

    Warrants outstanding at March 31, 2025  
     5,155,060  
    $2.51 

    Aggregate intrinsic value