The following is a summary of the Imunon, Inc. (IMNN) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Imunon ended 2023 with $15.7 million in cash and investments.

• The company used $18.9 million in net cash for operating activities, down from $23.1 million last year.

• The net loss for 2023 was $19.5 million, which was less than the $35.9 million loss in 2022.

• Operating expenses also dropped 17% to $21 million.

• Revenues generated from the sale of unused New Jersey net operating losses post-year end were reported to be $1.3 million.

• Imunon paid off their loan with Silicon Valley Bank, incurring an interest expense of $200,000 and recognized a $300,000 loss on the debt extinguishment.

Business Progress:

• Imunon is making steady progress with the Phase 2 OVATION 2 study with IMNN-001 and plans to begin the Phase 1 study of IMNN-002, their seasonal COVID-19 vaccine.

• The report on top-line data from the OVATION 2 study is expected in mid-2024, following which the company plans to begin preparations for the Phase 3 study.

• IMNN-101, their seasonal COVID-19 booster vaccine is set to enter Phase 1 trials in Q2 2024.

• A continued focus on the expansion and development of their proprietary DNA-based vaccine platform, PlaCCine, is part of their strategy.

• Interest has been shown in potential collaborations with the government featuring agencies such as the DoD and BARDA to quickly respond to emerging or evolving viruses.

More details: Imunon IR

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