D. Boral Capital analyst Jason Kolbert downgraded Imunon (IMNN) to Hold from Buy without a price target The company announced “encouraging” six-month follow-up data from its Phase 1 COVID-19 vaccine study, but the update is immaterial to the investment thesis, which remains centered on Imunon’s ovarian cancer program, the analyst tells investors in a research note. The firm says the “more pressing development” is the recently filed prospectus for potentially dilutive financing that could create a significant number of new shares. Given the scale of dilution and uncertainty around shareholder approval, D. Boral downgraded the stock.
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Read More on IMNN:
- Imunon announces new data from Phase 1 trial of IMNN-101
- Imunon price target lowered to $17 from $29 at D. Boral Capital
- Imunon Announces Warrant Exchange for Equity Securities
- Positive Outlook on Imunon Driven by Advancements in OVATION 3 Study and Strategic Focus on HRD+ Patients
- IMUNON, Inc. Reports Q1 2025 Financial Results and Clinical Progress
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