Company: IMNN
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009572
Chunk: 36

Company: Imunon, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 decrease as a
result of many factors, including the extent to which we choose to advance our research and development activities, preclinical
studies and clinical trials, or whether we are in a position to pursue manufacturing or commercialization activities, we will need
significant additional capital to progress our drug candidates through development and clinical trials, obtain regulatory approvals
and manufacture and commercialize approved products, if any. We do not know whether we will be able to access additional capital
when needed or on terms favorable to us or our stockholders. Our inability to raise additional capital, or to do so on terms
reasonably acceptable to us, would jeopardize the future success of our business.

Financing
Overview

Equity,
Debt and Other Forms of Financing

During
2025 and 2024 through the date of this Quarterly Report on Form 10-Q, we issued a total of 5.2 million shares of common stock as discussed
below for approximately $9.2 million in net proceeds.

23

On
May 15, 2024, the Company filed with the SEC a shelf registration statement on Form S-3 (the “2024 Registration Statement”)
for the offer and sale of up to $75 million of its securities. The 2024 Registration Statement was declared effective on May 22, 2024.
The 2024 Registration Statement is intended to provide the Company with flexibility to raise capital in the future for general corporate
purposes. However, the Company’s ability to offer and sell its securities in a primary offering on the 2024 Registration Statement
is limited by General Instruction I.B.6 of Form S-3 (the “Baby Shelf Limitation”), which limits the amount that the Company
can offer to up to one-third of its public float during any trailing 12-month period. The Company would no longer be subject to the Baby
Shelf Limitation if its public float exceeds $75 million. In the first quarter of 2025, the Company sold 120,047 shares of common stock
for net proceeds of $105,693. The Company did not sell any shares of common stock under the ATM program in 2024.

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