Imunon, Inc. (IMNN)
NASDAQ:IMNN
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Imunon
(NASDAQ:IMNN)
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Rating:44Neutral
Price Target:
$2.00
▼(-35.48% Downside)
Action:Reiterated
Date:06/05/26
The score is held down primarily by weak financial performance (minimal revenue, sizable losses, and sustained cash burn) and bearish technicals (price below key moving averages with negative MACD). Earnings-call fundamentals are a partial offset due to strong Phase II survival data and clear operational guidance, but long Phase III timelines and funding needs remain material risks, and valuation metrics are not supportive given losses and no dividend.
Positive Factors
Clinical efficacy (OVATION II)
A ~14.7-month median overall survival advantage is a durable, clinically meaningful efficacy signal that materially raises the program's probability of regulatory success and commercial relevance in advanced ovarian cancer. Strong survival data underpin long-term partner interest, labeling potential, and strategic optionality beyond short-term market noise.
Negative Factors
Persistent negative cash flow
Sustained negative operating and free cash flow means the company remains dependent on external capital to fund operations. This structural funding need increases dilution and execution risk, constrains discretionary R&D and commercialization planning, and requires continued access to financing over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Clinical efficacy (OVATION II)
A ~14.7-month median overall survival advantage is a durable, clinically meaningful efficacy signal that materially raises the program's probability of regulatory success and commercial relevance in advanced ovarian cancer. Strong survival data underpin long-term partner interest, labeling potential, and strategic optionality beyond short-term market noise.
Read all positive factors
Imunon (IMNN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.82M
Dividend YieldN/A
Average Volume (3M)45.91K
Price to Earnings (P/E)―
Beta (1Y)-0.75
Revenue GrowthN/A
EPS Growth71.83%
CountryUS
Employees25
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-5.16
Shares Outstanding4,202,118
10 Day Avg. Volume63,197
30 Day Avg. Volume45,906
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 Cap0.18
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-3.22
Enterprise Value/Ebitda-0.11
Forecast
1Y Price Target
$15.67Price Target Upside405.38% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-3.33
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 does not sell approved commercial products; as a clinical-stage biotech, it historically generates little to no recurring product revenue. Its funding and revenue sources typically consist of: (1) capital raises (e.g., public or private equ...
Imunon Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call emphasized strong, potentially transformative clinical data (a ~14.7-month median OS benefit from OVATION II), clear enrollment momentum and favorable safety/translation signals, supported by an active plan to present additional data and to pursue investor-friendly financing. Counterbalancing these positives are a challenging capital market, a materially prolonged Phase III enrollment and readout timeline (last patient expected Q1 2029), and increased near-term cash burn driven by trial start-up costs. Management has outlined a restructuring and creative financing approach to conserve cash and limit dilution, and investor interest appears constructive. Overall, the clinical progress and enrollment momentum materially support upside potential, while financing and timeline risks remain meaningful near-term headwinds.Positive Updates
Robust Phase II Overall Survival Benefit
Final OVATION II Phase II data showed a clinically meaningful median overall survival benefit of ~14.7 months for IMNN-001 plus standard-of-care chemotherapy versus control (management noted the observed treatment effect grew from an earlier ~11 months to nearly 15 months across data refreshes).
Negative Updates
Challenging Capital Environment and Need for Bridge Financing
Management acknowledged a difficult biotech capital market and the need for targeted bridge financing to advance OVATION III. While seeking minimally dilutive or non-dilutive options and strategic partners, financing risk and potential dilution remain key near-term uncertainties.
Read all updates
Q1-2026 Updates
Positive
Negative
Robust Phase II Overall Survival Benefit
Final OVATION II Phase II data showed a clinically meaningful median overall survival benefit of ~14.7 months for IMNN-001 plus standard-of-care chemotherapy versus control (management noted the observed treatment effect grew from an earlier ~11 months to nearly 15 months across data refreshes).
Read all positive updates
Company Guidance
On the May 12, 2026 (FY2026 Q1) call Imunon gave concrete operational and financial guidance: OVATION III is a 500‑patient pivotal Phase III trial (IMNN‑001) with ~80 patients (16% of the total) called out for near‑term enrollment (management referenced ~80 patients by end‑2027 and ~80 patients ≈ one year from now) and an expected last‑patient in Q1 2029; two interim analyses are planned (first allowing early stopping for efficacy about 1–1.5 years after full enrollment, the second about a year later); they highlighted a 14.7‑month median OS benefit from OVATION II; financially Q1 R&D was $2.3M (vs $2.2M prior year), G&A was $22M in Q1 2026 (unchanged YoY), net cash used in operations was $4.0M (vs $2.8M prior year), and management expects a G&A/SG&A run‑rate of roughly $4.5–5.0M per quarter post‑reorganization while pursuing targeted bridge financings and cash‑conservation measures to extend runway.Imunon Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
32
Negative
Cash Flow
18
Very 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
3.10
Price Trends
2.70
Negative
2.99
Negative
3.83
Negative
Market Momentum
-0.18
Positive
25.82
Positive
13.44
Positive
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 3.1 is above the 20-day moving average (MA) of 2.35, above the 50-day MA of 2.70, and below the 200-day MA of 3.83, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 25.82 is Positive, neither overbought nor oversold. The STOCH value of 13.44 is Positive, 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% | |
49 Neutral | $5.55M | -0.13 | -684.86% | ― | ― | 95.40% | |
46 Neutral | $13.24M | -1.13 | -107.58% | ― | ― | 77.90% | |
45 Neutral | $129.23M | -2.18 | -116.86% | ― | -98.25% | 76.83% | |
44 Neutral | $8.82M | -0.71 | -341.23% | ― | ― | 71.83% |
* Healthcare Sector Average
IMNN
Imunon
2.06
-16.98
-89.18%
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GNPX
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RNAZ
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Imunon Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Imunon Secures $10 Million Non-Dilutive Structured Financing
Positive
Jun 4, 2026
On June 2, 2026, IMUNON entered into a securities purchase agreement with Streeterville Capital for a $10 million structured financing that closed on June 3, 2026, combining $2.5 million of non-convertible Series A preferred stock with $7.72 milli...
Business Operations and StrategyExecutive/Board Changes
Imunon Adopts Change-of-Control Severance Agreements for Executives
Positive
May 4, 2026
On May 1, 2026, Imunon, Inc. approved and entered into change-of-control agreements with CEO Stacy Lindborg, CMO Douglas Faller, and General Counsel Susan Eylward, setting severance protections if their employment ends under specified conditions a...
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 ...
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.