IMUNON, Inc. reported its financial results for the second quarter ended June 30, 2025, on August 5, 2025. The company recorded a net loss of $2.7 million, or $2.15 per share, for Q2 2025, compared to a net loss of $4.8 million, or $7.64 per share, for Q2 2024 (all share amounts adjusted for a 15-for-1 reverse split).
Operating expenses decreased by 45% to $2.8 million in Q2 2025 from $5.0 million in Q2 2024, driven by lower research and development and general and administrative expenses. As of June 30, 2025, cash and cash equivalents were $4.7 million, with an additional $3.1 million in net proceeds received in July 2025 from warrant exercises and ATM sales, extending the cash runway into Q4 2025.
The company highlighted several recent milestones, including the dosing of the first patient in the Phase 3 OVATION 3 Study on July 30, 2025, and the approval of a 15% stock dividend on July 28, 2025. IMUNON also noted the successful closing of a private placement in May 2025, the Nasdaq continued listing extension granted on July 15, 2025, and the 15-for-1 reverse stock split effective July 25, 2025, along with an increase in authorized shares.
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