IMUNON, Inc. reported its financial results for the first quarter ended March 31, 2025, on May 12, 2025. The company posted a net loss of $4.1 million, or $0.28 per share, for Q1 2025, an improvement from a net loss of $4.9 million, or $0.52 per share, in Q1 2024.
Operating expenses decreased by 18% to $4.1 million in Q1 2025 from $5.0 million in Q1 2024, primarily due to lower research and development expenses. R&D expenses decreased by $1.1 million to $2.2 million, mainly from reduced costs associated with the OVATION 2 Study and the PlaCCine DNA vaccine trial.
As of March 31, 2025, cash and cash equivalents stood at $2.9 million, with the company expecting sufficient capital to fund operations into late second quarter of 2025. IMUNON highlighted the initiation of the first trial site for its Phase 3 OVATION 3 pivotal study on May 8, 2025, and the acceptance of IMNN-001 data for an oral presentation at the 2025 ASCO Annual Meeting.
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