Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 120

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 120
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 arrangements would affect our development plan or capital requirements. We may also apply
for subsidies, grants or government or agency-sponsored studies that could reduce our development costs. However, we cannot forecast
with any degree of certainty whether we will be selected to receive any subsidy, grant or governmental funding.

As
of March 31, 2025, the Company had $2.9 million in cash and cash equivalents to fund its operations. The Company’s primary sources
of cash have been proceeds from the issuance and sale of its common stock, including via its at-the-market (“ATM”) program
and other potential funding transactions. There can be no assurance that the Company will be able to do so in the future on a timely
basis on terms acceptable to the Company, or at all. The Company has not yet commercialized any of its product candidates. Even if the
Company commercializes one or more of its product candidates, it may not become profitable in the near term. The Company’s ability
to achieve profitability depends on several factors, including its ability to obtain regulatory approval for its product candidates,
successfully complete any post-approval regulatory obligations and successfully commercialize its product candidates alone or in partnership.

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 as a going concern. The report of our independent registered
public accounting firm for the year ended December 31, 2024, includes an explanatory paragraph which expresses substantial doubt about
our ability to continue as a going concern. See also Note 2 to the Condensed Consolidated Financial Statements contained in this Quarterly Report on Form 10-Q.

Management’s
plan includes private or public equity financings, collaborations, or other strategic transactions such as raising funds from outside
investors via its ATM program and other potential funding sources The Company may not be able to obtain funding on acceptable terms,
or at all. The terms of any financing may adversely affect the holdings or the rights of the Company’s stockholders. The Company’s
ability to raise additional funds will depend, among other factors, on financial, economic and market conditions, many of which are outside
of its control, and it may be unable to raise financing when needed, or on terms favorable to the Company. If the Company is unable to
obtain sufficient capital to fund its operations it may be required to evaluate alternatives. The Company’s financial statements
do not include any adjustments relating to the recover