IMUNON, Inc. reported its financial results for the full year ended December 31, 2024, on February 27, 2025. The company recorded a net loss of $18.6 million, or $1.62 per share, for 2024, an improvement from a net loss of $19.5 million, or $2.16 per share, in 2023.
Operating expenses for 2024 decreased by 9% to $19.1 million from $21.0 million in 2023, primarily due to lower general and administrative expenses. Research and development expenses were $11.6 million in 2024, a slight increase from $11.3 million in 2023.
The company ended 2024 with $5.9 million in cash and cash equivalents and believes it has sufficient capital resources to fund operations into late second quarter of 2025. IMUNON highlighted significant progress towards initiating its pivotal Phase 3 study for IMNN-001 in advanced ovarian cancer, following robust Phase 2 data and positive regulatory interactions.
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