Imunon, Inc.
- Open
- 1.64
- Day high
- 1.67
- Day low
- 1.60
- Prev close
- 1.63
- Volume
- 54K
- Mkt cap
- $9M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.0
- P/S
- —
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$30K over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions reducing (13F)
Imunon, Inc. (IMNN) is a Healthcare company listed on NASDAQ. The stock is down 76% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
Imunon, Inc. (IMNN) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
IMNN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 11, 2026 | $-0.87 | $-0.54 | +37.8% | — | — |
| May 12, 2026 | $-1.22 | $-0.84 | +30.9% | — | — |
| Mar 31, 2026 | $-1.43 | $-1.29 | +9.8% | — | — |
| Nov 13, 2025 | $-1.73 | $-1.16 | +32.9% | — | — |
| Feb 27, 2025 | $-0.36 | $-0.23 | +36.1% | — | — |
| Nov 7, 2024 | $-0.37 | $-0.34 | +8.1% | — | — |
| Aug 14, 2024 | $-0.55 | $-0.51 | +7.3% | — | — |
| Nov 14, 2023 | $-0.66 | $-0.37 | +43.9% | — | — |
| Aug 10, 2023 | $-0.71 | $-0.61 | +14.1% | — | — |
| May 11, 2023 | $-0.69 | $-0.68 | +1.4% | — | — |
| Nov 14, 2022 | $-0.81 | $-0.87 | -7.4% | $125000 | +15.4% |
| Aug 15, 2022 | $-1.12 | $-0.87 | +22.3% | $125000 | +15.4% |
IMNN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 4, 2026 | Lindborg Stacydirector, officer: President and CEO | Grant | 5,010 | $1.59 |
| Aug 4, 2026 | Tardugno Michael Hdirector, officer: Executive Chairman of Board | Grant | 6,358 | $1.59 |
| Aug 4, 2026 | Faller Douglas Vincentofficer: Chief Medical Officer | Grant | 3,649 | $1.59 |
| Aug 4, 2026 | Eylward Susanofficer: General Counsel and Corp Sec | Sell | 2,541 | $1.57 |
| Aug 4, 2026 | Fritz Frederick J.director | Grant | 6,934 | $1.59 |
| Aug 4, 2026 | Eylward Susanofficer: General Counsel and Corp Sec | Grant | 2,541 | $1.59 |
| Aug 4, 2026 | Dentzer James Edirector | Grant | 6,934 | $1.59 |
| Aug 4, 2026 | Braun Donald Pdirector | Grant | 6,180 | $1.59 |
| Aug 4, 2026 | Pellizzari Christine Adirector | Grant | 6,934 | $1.59 |
| Jul 21, 2026 | Faller Douglas Vincentofficer: Chief Medical Officer | Grant | 3,082 | $1.83 |
| Jul 21, 2026 | Eylward Susanofficer: General Counsel and Corp Sec | Sell | 2,150 | $1.78 |
| Jul 21, 2026 | Eylward Susanofficer: General Counsel and Corp Sec | Grant | 2,150 | $1.83 |
| Jul 21, 2026 | Tardugno Michael Hdirector, officer: Executive Chairman of Board | Grant | 4,603 | $1.83 |
| Jul 21, 2026 | Lindborg Stacydirector, officer: President and CEO | Grant | 4,907 | $1.83 |
| Jul 7, 2026 | Eylward Susanofficer: General Counsel and Corp Sec | Grant | 920 | $1.91 |
Source: IMNN SEC Form 4 filings, latest Aug 4, 2026. For informational purposes only — not investment advice.
See the full IMNN insider & 13F page →Imunon, Inc. company profile
Overview
Imunon, Inc. (NASDAQ:IMNN) is a clinical-stage biotechnology company founded in 1982 and headquartered in Lawrenceville, New Jersey. Originally known as Celsion Corporation, the company rebranded to Imunon in September 2022 to better reflect its focus on immunotherapy development. The company has been publicly traded since 1999 and specializes in developing DNA-based immunotherapies and vaccines for cancer treatment and infectious diseases. Imunon operates two primary technology platforms and is currently advancing its lead ovarian cancer treatment through Phase III clinical trials while exploring partnerships for its vaccine technologies.
Business
Imunon operates in the biotechnology sector, specifically focusing on immunotherapy and vaccine development using proprietary DNA-based platforms. Immunotherapy is a form of cancer treatment that harnesses the body's immune system to fight cancer cells, while DNA-based vaccines use genetic material to instruct cells to produce proteins that trigger immune responses. The company's business is built around two core technology platforms: 1. TheraPlas Platform (approximately 80-90% of focus based on resource allocation): This DNA-based immunotherapy platform is designed to deliver therapeutic proteins directly to tumor sites. The lead product, IMNN-001 (formerly GEN-1), is a localized treatment for ovarian cancer that works by delivering interleukin-12 (IL-12) directly to the peritoneal cavity. IL-12 is a naturally occurring protein that stimulates the immune system to attack cancer cells. Unlike systemic treatments that affect the entire body, this localized approach aims to maximize anti-tumor effects while minimizing side effects. The treatment has received Fast Track designation and Orphan Drug status from the FDA. 2. PlaCCine Platform (approximately 10-20% of current focus): This is a DNA vaccine platform designed for infectious diseases. The technology creates vaccines using plasmid DNA that instructs cells to produce viral proteins, triggering immune responses. The lead product, IMNN-101, is a COVID-19 vaccine designed to provide broader and more durable immunity compared to traditional mRNA vaccines. The platform offers advantages including stability at refrigerated temperatures, potential for rapid adaptation to new pathogens, and cost-effective manufacturing without requiring specialized delivery devices. The company also historically worked on ThermoDox, a heat-activated liposomal formulation of the chemotherapy drug doxorubicin, though this program appears to have been deprioritized in favor of the immunotherapy platforms.
Revenue model
Imunon currently generates no revenue from product sales, as all its treatments remain in clinical development. The company operates as a typical pre-revenue biotechnology firm, funding operations through equity financing, grants, and potential future partnerships. The company's future revenue model will likely include multiple streams: product sales of approved therapies, licensing fees from technology partnerships, milestone payments from development partners, and potential royalties on partnered products. For the ovarian cancer program, revenue would come from direct sales to hospitals and oncology centers treating newly diagnosed ovarian cancer patients. The vaccine platform could generate revenue through partnerships with pharmaceutical companies or government agencies for pandemic preparedness. Several factors could significantly impact the company's future profitability margins. Positive factors include the localized delivery method of IMNN-001, which could command premium pricing due to its differentiated safety profile compared to systemic treatments, the potential for accelerated approval pathways given the unmet medical need in ovarian cancer, and the scalable nature of DNA-based manufacturing which could provide cost advantages. The company has also brought manufacturing in-house, potentially improving margins by reducing third-party costs. Challenging factors include the high cost of clinical trials, particularly the upcoming Phase III study estimated at $50 million, the competitive landscape in both oncology and vaccine development where larger pharmaceutical companies have significantly more resources, and the regulatory risks inherent in biotechnology development where clinical trial failures can eliminate entire revenue streams. Additionally, the company's limited cash position creates pressure to secure partnerships or additional financing, potentially on less favorable terms that could impact future economics. The paying customers will primarily be healthcare systems, hospitals, and oncology practices for the cancer treatment, while vaccine customers could range from government agencies to large pharmaceutical partners depending on the partnership structure ultimately established.
Competitive moat
Imunon's competitive moat is relatively narrow and primarily technology-based rather than structural. The company's main competitive advantages stem from its proprietary DNA-based platforms and the clinical data generated from years of development, particularly the promising Phase II results showing an 11.1-month improvement in overall survival for ovarian cancer patients. The TheraPlas platform offers some differentiation through its localized delivery approach, which has demonstrated an exceptional safety profile compared to systemic immunotherapies. The ability to deliver IL-12 directly to the tumor site while avoiding the severe systemic toxicities typically associated with this potent cytokine represents a meaningful technical achievement. Additionally, the company has developed manufacturing capabilities in-house, providing some operational control and potential cost advantages. However, the moat is not particularly strong or durable. Key vulnerabilities include the fact that larger pharmaceutical companies with substantially greater resources are actively developing competing immunotherapies for ovarian cancer, including combinations of existing approved drugs that could reach market faster. The DNA-based approach, while novel, is not protected by insurmountable technical barriers, and competitors could potentially develop similar localized delivery methods. For the PlaCCine vaccine platform, the competitive landscape is even more challenging. While the platform shows promise for stability and broad immune responses, it faces competition from established mRNA vaccine technologies that have already proven successful and have significant manufacturing infrastructure in place. The COVID-19 vaccine market has also become increasingly saturated, reducing the commercial opportunity. The company's most significant competitive advantage may be its clinical data and regulatory pathway progress, particularly the Fast Track designation for IMNN-001. However, this advantage is temporary and could be eroded if competitors achieve superior clinical results or reach market first. Without substantial partnerships or additional capital to accelerate development, Imunon faces the risk of being outpaced by better-funded competitors in both of its primary areas of focus.
Risks & safety
The margin of safety is extremely limited, presenting significant solvency concerns for potential investors. Liquidity and Solvency Risk: • Cash position of $2.9 million as of Q1 2025, down from $5.9 million at year-end 2024 • Current quarterly cash burn rate of approximately $3.1 million in free cash flow • Cash runway extends only to approximately Q2 2025 based on current burn rate • Current ratio of 0.88, indicating current liabilities exceed current assets • Debt-to-equity ratio of 2.23, showing high leverage relative to equity base Valuation Metrics: • Price-to-book ratio of 33.8, indicating significant premium to book value • Enterprise value to EBITDA of -0.85 (negative due to losses) • Market capitalization of approximately $26 million • Graham net-net working capital per share is negative Other Considerations: • No revenue generation, making traditional valuation metrics largely irrelevant • Immediate financing needs for Phase III trial estimated at $50 million • High dilution risk from necessary equity raises at current low share price • Binary risk profile where clinical trial success or failure dramatically impacts value • Potential for partnership deals could provide non-dilutive funding but terms uncertain
Recent development
Over the past few years, Imunon has undergone significant strategic transformation and clinical advancement. The company rebranded from Celsion Corporation to Imunon in September 2022 to better reflect its focus on immunotherapy development, signaling a strategic shift toward its DNA-based platforms. The most significant development has been the advancement of IMNN-001 in ovarian cancer. The Phase II OVATION 2 study, completed in 2024, demonstrated remarkable results with an 11.1-month improvement in median overall survival compared to standard of care. For patients receiving optimal dosing, the survival benefit extended to 16-17 months. These results represent the first time an immunotherapy has shown overall survival improvement in newly diagnosed ovarian cancer, positioning the treatment as potentially practice-changing. Based on these results, the company initiated the Phase III OVATION 3 trial in early 2025, targeting 500 patients with two primary endpoints focusing on overall survival. The company has also developed its PlaCCine vaccine platform, with IMNN-101 as the lead COVID-19 vaccine candidate. Phase I proof-of-concept studies demonstrated 2-4 fold increases in neutralizing antibody titers, showing the platform's potential for broader and more durable immune responses compared to existing vaccines. However, the company is actively seeking partnerships for this platform rather than advancing it independently. Strategically, Imunon has brought manufacturing capabilities in-house, reducing dependence on third-party manufacturers and potentially improving cost control. The company has also strengthened its leadership team with key hires including a SVP of Strategic Operations and General Counsel to support the transition to later-stage development. The company has secured important regulatory designations including Fast Track status and Orphan Drug designation for IMNN-001 in both the US and Europe, potentially accelerating the approval pathway. Management has indicated they are exploring accelerated approval options based on the strength of the Phase II data.
IMNN company profile · for informational purposes only — not investment advice.
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