Imunon Reports $2.7 Million Net Loss in Q2 2025, Down from $4.8 Million Last Year

Imunon, Inc. reported a net loss of $2.7 million for the second quarter of 2025, a significant decrease from the $4.8 million loss recorded in the same period of 2024. For the first half of 2025, the company’s net loss was $6.8 million, down from $9.7 million in the prior year. The reduction in losses is attributed to a decrease in operating expenses, which totaled $2.8 million for the second quarter, compared to $5.0 million in the same quarter of 2024. The company’s cash and cash equivalents stood at $4.7 million as of June 30, 2025, raising concerns about its ability to continue operations without additional funding.

Imunon’s operating expenses for the first half of 2025 were $6.9 million, down from $10.0 million in the same period of 2024. Research and development expenses decreased to $3.4 million from $6.1 million year-over-year, reflecting reduced clinical costs associated with its OVATION program and the PlaCCine vaccine trial. General and administrative expenses also fell to $3.5 million from $3.9 million, primarily due to lower employee-related costs. The company’s investment income decreased to $70,000 in the first half of 2025, down from $307,000 in the same period of 2024.

Strategically, Imunon is advancing its lead clinical program, IMNN-001, a DNA-based immunotherapy for advanced ovarian cancer, which has shown promising results in clinical trials. The company has completed enrollment for its Phase II OVATION 2 study and is preparing to initiate a Phase III trial, OVATION 3, following positive interactions with the FDA. Additionally, Imunon is developing its PLACCINE DNA vaccine platform, which includes a COVID-19 booster vaccine, IMNN-101, that has demonstrated safety and immunogenicity in early trials.

Despite these advancements, Imunon faces significant challenges, including the need for substantial capital to fund ongoing research and development activities. The company has indicated that it may pursue additional funding through equity sales or strategic partnerships. However, there is no assurance that such funding will be available on favorable terms. The company’s financial statements reflect substantial doubt about its ability to continue as a going concern, emphasizing the critical need for effective capital management and strategic planning moving forward.