Imunon (IMNN) investor relations material

Executive summary

• IMNN-001 demonstrated a 14.7-month median overall survival benefit in Phase 2 for advanced ovarian cancer, with even greater benefit (24.2 months) when combined with PARP inhibitors.

• Entered Q2 2026 with momentum after a transformative 2025, advancing the OVATION 3 Phase 3 trial for ovarian cancer.

• Enrollment in the pivotal Phase 3 OVATION 3 trial is progressing ahead of plan, with strong investigator and patient enthusiasm and global site interest.

• Strategic reorganization in Q1 2026 aims to reduce operating expenses, align resources with trial priorities, and extend cash runway.

• IMNN-101 COVID-19 vaccine development is paused pending partnership opportunities.

Financial highlights

• Net loss for Q1 2026 was $4.3 million ($0.84 per share), compared to $4.1 million ($3.15 per share) in Q1 2025.

• R&D expenses rose to $2.3 million in Q1 2026 from $2.2 million in Q1 2025, reflecting OVATION 3 trial initiation and OVATION 2 closure.

• General and administrative expenses held steady at $2.0–$2.2 million year-over-year.

• Net cash used in operations was $4.0 million in Q1 2026, up from $2.8 million in Q1 2025, mainly due to trial-related costs.

• Cash and cash equivalents were $4.8 million as of March 31, 2026, down from $8.8 million at year-end 2025.

Outlook and guidance

• OVATION 3 Phase 3 trial aims to randomize 80 patients by Q1 2027 and complete full enrollment (500 patients) by Q1 2029.

• Two interim analyses are planned, with potential for early stopping for efficacy 1–1.5 years after full enrollment.

• R&D Day event scheduled for Q3 2026 to present final OVATION 2 efficacy and new translational data.

• Management has substantial doubt about the ability to continue as a going concern without additional capital.

• Plans include raising funds through equity offerings, partnerships, and cost reductions.