Imunon (IMNN)
NASDAQ:IMNN
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Imunon
(NASDAQ:IMNN)
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Rating:48Neutral
Price Target:
$3.00
▲(2.74% Upside)
Action:ReiteratedDate:04/01/26
The score is held down primarily by weak financial performance (ongoing losses, limited revenue, and cash-burn reliance on financing) and a bearish technical trend (price below key moving averages). The earnings call adds support due to strong clinical momentum and improved cost discipline, but near-term funding needs and a long registrational timeline remain key risks; valuation signals are limited because the company is unprofitable and does not pay a dividend.
Positive Factors
Demonstrated Phase II overall survival benefit
A reproducible OS signal across OVATION 2 analyses demonstrates meaningful clinical activity in ovarian cancer. Confirmed survival benefit strengthens biological rationale, improves regulatory credibility, and materially increases the probability of partner interest and long-term commercial value if replicated in the pivotal study.
Negative Factors
Limited near-term cash runway
With roughly one year of runway versus a multi-year registrational timeline, the company faces acute near-term financing needs. Short cash duration increases execution risk for patient enrollment and site activation, and can force hurried financings that impair program continuity or dilute stakeholders.
Read all positive and negative factors
Positive Factors
Negative Factors
Demonstrated Phase II overall survival benefit
A reproducible OS signal across OVATION 2 analyses demonstrates meaningful clinical activity in ovarian cancer. Confirmed survival benefit strengthens biological rationale, improves regulatory credibility, and materially increases the probability of partner interest and long-term commercial value if replicated in the pivotal study.
Read all positive factors
Imunon (IMNN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.45M
Dividend YieldN/A
Average Volume (3M)146.97K
Price to Earnings (P/E)―
Beta (1Y)-0.50
Revenue GrowthN/A
EPS Growth57.97%
CountryUS
Employees25
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.24
Shares Outstanding3,922,764
10 Day Avg. Volume40,104
30 Day Avg. Volume146,975
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.15
Price to Sales (P/S)0.00
P/FCF Ratio-0.57
Enterprise Value/Market Cap-0.04
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit0.15
Enterprise Value/Ebitda0.03
Forecast
1Y Price Target
$18.50Price Target Upside533.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-2.49
Revenue Forecast (FY)N/A
Imunon Business Overview & Revenue Model
Company Description
Imunon, Inc., a clinical stage biotechnology company, focuses on the development and commercialization of DNA-based immunotherapies, vaccines, and directed chemotherapies. Its product pipeline includes GEN-1, a DNA-based immunotherapy for the loca...
How the Company Makes Money
Imunon has not been characterized as generating material, recurring product revenue; as a clinical-stage biotech, it typically funds operations primarily through capital raising (e.g., public offerings and other equity financings) rather than comm...
Imunon Earnings Call Summary
Earnings Call Date:Mar 31, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 18, 2026
Earnings Call Sentiment Neutral
The call conveyed strong, potentially transformative clinical momentum driven by a robust Phase II overall survival signal (14.7 months) and faster-than-expected Phase III enrollment, supported by translational data, publications, CRO support and cost discipline. However, near-term financing risk is acute (cash of $8.8M with runway into H2 2026), the registrational timeline extends to 2029 absent an early interim readout, and some scientific endpoints (MRD) remain exploratory. Management is actively pursuing financing and partnerships and has taken cost-saving measures to extend the runway, but successful execution of funding and completion of the Phase III program are critical next steps.Positive Updates
Transformational Phase II Overall Survival Benefit
OVATION 2 final analysis reported a 14.7-month median overall survival (OS) benefit versus control (prior readouts: 11.1 months and 13 months), representing continued improvement across analyses and a clinically meaningful absolute OS gain.
Negative Updates
Limited Near-Term Cash Runway
Cash and cash equivalents were $8.8M as of Dec 31, 2025; management projects this extends operating runway into the second half of 2026, creating near-term funding risk for fully financing the Phase III program.
Read all updates
Q4-2025 Updates
Positive
Negative
Transformational Phase II Overall Survival Benefit
OVATION 2 final analysis reported a 14.7-month median overall survival (OS) benefit versus control (prior readouts: 11.1 months and 13 months), representing continued improvement across analyses and a clinically meaningful absolute OS gain.
Read all positive updates
Company Guidance
The company guided that OVATION 3 enrollment is ahead of plan with a target of ~80 patients within the next 12 months and full enrollment expected in 2029, currently supported by 7 active sites and up to 43 additional centers under evaluation or start‑up (early sites averaging above the protocol assumption of 0.3 patients/site/month, with some sites as high as 1 patient/month); the adaptive trial design includes two interim analyses (the first roughly ~1 year after full enrollment) and is powered at 95% for the primary overall survival endpoint. Management highlighted the Phase II OVATION 2 median OS improvement progression (11.1 months → 13 months → 14.7 months in the final analysis) and a >2‑year median OS increase in the PARP‑treated subgroup, noted the MRD study was capped at 30 patients, and reiterated regulatory alignment on OS as the primary endpoint. Financially, cash and cash equivalents were $8.8M as of 12/31/2025 (projected runway into H2 2026), 2025 R&D expense was $7.8M, G&A declined 8% YoY, and net loss narrowed to $14.5M ($6.83/share) from $18.6M ($16.94/share) (post 15‑for‑1 reverse split and 15% stock dividend).Imunon Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
38
Negative
Cash Flow
22
Negative
| Breakdown | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 500.00K | 500.00K |
| Gross Profit | 0.00 | 0.00 | 0.00 | 500.00K | 500.00K |
| EBITDA | -13.95M | -17.90M | -19.88M | -31.71M | -20.88M |
| Net Income | -14.49M | -18.62M | -19.51M | -35.90M | -20.77M |
Balance Sheet | |||||
| Total Assets | 12.29M | 9.72M | 21.92M | 43.98M | 74.05M |
| Cash, Cash Equivalents and Short-Term Investments | 8.78M | 5.87M | 15.70M | 32.75M | 49.39M |
| Total Debt | 1.01M | 1.14M | 1.62M | 6.27M | 6.63M |
| Total Liabilities | 5.23M | 5.47M | 8.53M | 14.65M | 18.25M |
| Stockholders Equity | 7.06M | 4.24M | 13.39M | 29.33M | 55.80M |
Cash Flow | |||||
| Free Cash Flow | -14.18M | -18.88M | -19.47M | -23.36M | -16.54M |
| Operating Cash Flow | -13.90M | -18.85M | -19.02M | -23.10M | -16.22M |
| Investing Cash Flow | -280.57K | 9.83M | 11.01M | 8.28M | -30.12M |
| Financing Cash Flow | 17.09M | 9.06M | -3.64M | 6.72M | 54.77M |
Imunon Technical Analysis
Negative
2.92
Price Trends
3.13
Negative
3.45
Negative
4.83
Negative
Market Momentum
-0.03
Negative
43.57
Neutral
67.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMNN, the sentiment is Negative. The current price of 2.92 is below the 20-day moving average (MA) of 2.97, below the 50-day MA of 3.13, and below the 200-day MA of 4.83, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 43.57 is Neutral, neither overbought nor oversold. The STOCH value of 67.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IMNN.
Imunon Risk Analysis
Imunon disclosed 4 risk factors in its most recent earnings report. Imunon reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Imunon Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $14.06M | -1.29 | -107.58% | ― | ― | 83.95% | |
49 Neutral | $99.98M | -0.65 | -116.86% | ― | -98.25% | 63.05% | |
49 Neutral | $7.53M | -0.46 | -684.86% | ― | ― | 96.75% | |
48 Neutral | $11.45M | -0.48 | -406.72% | ― | ― | 57.97% |
* Healthcare Sector Average
IMNN
Imunon
2.92
-8.43
-74.27%
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Imunon Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
Imunon Expands At-The-Market Equity Offering Capacity
Neutral
Mar 23, 2026
On March 23, 2026, Imunon, Inc. filed a prospectus supplement to register an additional $7 million of common stock under its existing at-the-market offering program with H.C. Wainwright Co., expanding the total amount covered to $17 million. The ...
Executive/Board Changes
Imunon announces orderly retirement of chief scientific officer
Neutral
Feb 5, 2026
On February 2, 2026, Imunon, Inc. announced that Executive Vice President and Chief Scientific Officer Khursheed Anwer intends to retire, with his employment ending on February 20, 2026, and the company noted his departure does not stem from any d...
Executive/Board Changes
Imunon Announces CFO Transition and Reappointment of Jeffrey Church
Neutral
Jan 7, 2026
On January 7, 2026, Imunon, Inc. announced that interim Chief Financial Officer Kimberly Graper will resign her role effective January 14, 2026, to pursue another career opportunity, with the company emphasizing that her departure involves no disa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.