Company: IMNN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022120
Chunk: 39

Company: Imunon, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 39
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 two and one-half years following the date of issuance.
The Warrants will be exercisable upon receipt of such approval as may be required by the applicable rules and regulations of the Nasdaq
Stock Market (or any successor entity) from the stockholders of the Company with respect to issuance of all of the Warrants and the shares
of Common Stock upon the exercise thereof (“Stockholder Approval,” and such date, the “Stockholder Approval Date”)
and have a term of three years. The prefunded warrants were exercised in full on June 16, 2025 and June 18, 2025.

In
addition, the Company issued to H.C. Wainwright & Co., LLC warrants (the “Placement Agent Warrants”) to purchase up to
an aggregate of 24,075 shares of common stock at an exercise price equal to $8.44 per share. The Placement Agent Warrants have substantially
the same terms as the Warrants. The closing of the May 2025 Offering occurred on May 28, 2025. On July 11, 2025, the Company’s
shareholders approved the issuance of the Warrants.

28

Significant
Accounting Policies

Our
significant accounting policies are more fully described in Note 1 to our consolidated financial statements included in our 2024 Annual
Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 27, 2025. See Note 3 to the Condensed Consolidated
Financial Statements contained in this Quarterly Report on Form 10-Q.

As
a clinical-stage biopharmaceutical company, our business, and our ability to execute our strategy to achieve our corporate goals are
subject to numerous risks and uncertainties. Material risks and uncertainties relating to our business and our industry are described
in “Item 1A. Risk Factors” under “Part II: Other Information” included herein.

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

Results
of Operations

For
the three months ended September 30, 2025, our net loss was $3.4 million compared to a net loss of $4.8 million for the same three-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