Overview

• U.S. biotech firm's Q1 net loss widened slightly as R&D spending increased for Phase 3 trial

• Company advanced enrollment in pivotal Phase 3 OVATION 3 ovarian cancer study ahead of plan

• Final Phase 2 data showed improved overall survival for lead candidate IMNN-001 in ovarian cancer

Outlook

• Imunon expects enrollment in Phase 3 OVATION 3 study to complete by Q1 2029

• Company says FDA is aligned with Phase 3 protocol and confirms path to BLA filing

• Imunon is focusing resources on advancing the pivotal Phase 3 ovarian cancer trial

Result Drivers

• TRIAL-RELATED SPENDING - Higher R&D expenses driven by costs associated with the Phase 3 OVATION 3 trial

• PHASE 3 ENROLLMENT PROGRESS - Enrollment in pivotal Phase 3 OVATION 3 trial continued ahead of plan, supported by patient interest and investigator conviction

• PHASE 2 SURVIVAL DATA - Final Phase 2 data showed further improvement in overall survival for IMNN-001 in ovarian cancer

Company press release: ID:nGNX6QvVng

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS		-$0.84
Q1 Net Income		-$4.25 mln
Q1 Operating Expenses		$4.31 mln
Q1 Operating Income		-$4.31 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for Imunon Inc is $16.00, about 486.1% above its May 11 closing price of $2.73

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