Company: IMNN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022120
Chunk: 1

Company: Imunon, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 1
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 disclosures
normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and
regulations.

In
the opinion of management, all adjustments, consisting only of normal recurring accruals considered necessary for a fair presentation,
have been included in the accompanying unaudited condensed consolidated financial statements. Operating results for the nine months ended
September 30, 2025 and 2024 are not necessarily indicative of the results that may be expected for any other interim period(s) or for
any full year. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s
Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the Securities and Exchange Commission on February
27, 2025.

The
preparation of financial statements in conformity with GAAP requires management to make judgments, estimates, and assumptions that affect
the amounts reported in the Company’s condensed consolidated financial statements and accompanying notes. Actual results could
differ materially from those estimates. Events and conditions arising subsequent to the most recent balance sheet date have been evaluated
for their possible impact on the unaudited condensed consolidated financial statements and accompanying notes.

    8

Going
Concern Uncertainty

Since
inception, the Company has incurred substantial operating losses, principally from expenses associated with the Company’s research
and development programs, clinical trials conducted in connection with the Company’s drug candidates, and applications and submissions
to the U.S. Food and Drug Administration (“FDA”). The Company has not generated significant revenue and has incurred significant net losses in each year since inception. For
the nine months ended September 30, 2025, the Company had a net loss of $10.3 million and used $10.2 million to fund operations. As of
September 30, 2025, the Company has incurred approximately $419 million of cumulative net losses. As of September 30, 2025, the Company
had $5.3 million in cash and cash equivalents to fund its operations.

The
Company’s ability to raise additional capital may be adversely impacted by potential worsening global economic conditions and
the recent disruptions to, and volatility in, financial markets in the U.S. and worldwide resulting from the recent tariff
announcement by the U.S. federal government, the Russian invasion of Ukraine and the unrest in the Middle East. The Company
continues to monitor its operating activities in light of these events, and it is possible