Imunon regains compliance with Nasdaq minimum bid price requirement

Imunon, Inc. (Nasdaq: IMNN) has regained compliance with the Nasdaq minimum bid price requirement. The company said on August 28, 2025 that it received written notification from the Nasdaq Hearings Panel on August 27, 2025. The panel indicated that Imunon now meets the $1.00 minimum closing bid price requirement for continued listing on the Nasdaq Capital Market. The company reported the notice in a Form 8-K under Item 3.01. Susan Eylward, General Counsel and Corporate Secretary, signed the filing.

What the filing says

Under Item 3.01, Imunon says the Hearings Panel notified it that it had regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The rule requires a listed security to keep a closing bid price of at least $1.00 per share. The item's title covers notices of delisting or failure to satisfy a continued listing rule or standard, so the filing reports a return to compliance under that heading. The 8-K is short. It gives the date of the notice and the rule, and attaches a press release dated August 28, 2025 as Exhibit 99.1.

The press release says the company has regained compliance "following confirmation from the Nasdaq Hearings Panel." As a result, it says, Imunon common stock will continue trading on The Nasdaq Capital Market.

What the company says

Stacy Lindborg, Ph.D., President and CEO of Imunon, is quoted in the release. She says that investors are assured of efficient liquidity as provided by the exchange. She ties the listing news to a recent 15% stock dividend to shareholders of record as of August 7, 2025, which she says reflects confidence in the clinical pipeline.

Lindborg also points to the Phase 2 OVATION 2 trial results for IMNN-001. The release calls IMNN-001 a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer, a disease that results in 20,000 women newly diagnosed annually in the U.S. alone. Lindborg says the company has initiated its Phase 3 OVATION 3 trial in North America.

Risk language in the release

The release's forward-looking statements still name the company's ability to regain compliance with Nasdaq's continued listing requirements among the risks it lists. The same statements name the timing of enrollment in the company's trials. The release does not describe the cash the company holds. The annual report does: cash and cash equivalents of $5.9 million as of December 31, 2024, against a net loss of $18.6 million for 2024 and $19.5 million for 2023.

About the company

Imunon describes itself as a clinical-stage company developing non-viral DNA technology across two modalities. The first, TheraPlas, delivers genes for cytokines and other therapeutic proteins in solid tumors. The second, PlaCCine, delivers genes for viral antigens intended to produce a strong immunological response.

IMNN-001 is the company's lead clinical program. The release says it works by instructing the body to produce cancer-fighting molecules, such as interleukin-12 and interferon gamma, at the tumor site. Imunon also says it has completed dosing in a first-in-human study of its COVID-19 booster vaccine, IMNN-101.

Going concern paragraph in the annual report

In its annual report on Form 10-K, filed February 27, 2025, the company's independent auditor included an explanatory paragraph expressing substantial doubt about Imunon's ability to continue as a going concern. Management reached the same conclusion. The report gives an accumulated deficit of $407 million at December 31, 2024. Management's plan includes raising funds from outside investors via its ATM program and other potential sources, with no assurance such funding will be available. The report says expenses have substantially exceeded revenue since the company was formed.

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