Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 61

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 61
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 current product pipeline. This is intended to allow
us to diversify the risks associated with our research and development expenditures. To the extent we are unable to maintain a broad
range of drug candidates, our dependence on the success of one or a few drug candidates would increase and would have a more significant
impact on our financial prospects, financial condition, and market value. We may also consider and evaluate strategic alternatives, including
investment in, or acquisition of, complementary businesses, technologies, or products. Drug research and development is an inherently
uncertain process and there is a high risk of failure at every stage prior to approval. The timing and the outcome of clinical results
are extremely difficult to predict. The success or failure of any preclinical development and clinical trial can have a disproportionately
positive or negative impact on our results of operations, financial condition, prospects, and market value.

22

Our
current business strategy includes the possibility of entering into collaborative arrangements with third parties to complete the development
and commercialization of our drug candidates. In the event that third parties are contracted to manage the clinical trial process for
one or more of our drug candidates, the estimated completion date would largely be under the control of that third party rather than
us. We cannot forecast with any degree of certainty which proprietary products or indications, if any, will be subject to future collaborative
arrangements, in whole or in part, and how such 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