Recent Updates — IMNN
Imunon entered into an Asset Purchase Agreement with VoxelDox Therapeutics to sell rights to its ThermoDox asset, including trademarks and clinical data. In exchange, Imunon will receive a 4.76% equity stake in VoxelDox and up to $16.5 million in contingent milestone payments plus royalties on net sales. The transaction is contingent on VoxelDox raising at least $2.5 million for Phase 1 glioblastoma trials. Imunon operates as a clinical-stage biotechnology company developing DNA-mediated immunotherapies.
On September 28, 2026, Imunon, Inc. entered into an Exchange Agreement with Streeterville Capital, LLC to exchange $1,200,000 of principal plus accrued interest from its Secured Promissory Note A-1 for 120 shares of newly designated Series B Preferred Stock at a price of $10,000 per share. The company simultaneously filed a Certificate of Designation with the Delaware Secretary of State authorizing 200 shares of Series B Preferred Stock with a stated value of $12,000 and an annual preferred return of 8%, payable in cash or additional stock. These securities carry no voting rights except for matters adversely affecting their preferences, and the company retains optional redemption rights at 110% of the liquidation amount. Imunon, Inc. operates in the biotechnology industry, focusing on cancer immunotherapy.
Imunon, Inc.'s Compensation Committee approved compensatory programs allowing certain executive officers to elect to receive a percentage of their base salary in common stock. President and CEO Stacy Lindborg may convert up to 50% of his salary into shares, receiving additional equity equal to 12% (amended to 35% for August 14/17 issuances) or 17.5% of the net stock payment value on subsequent pay dates through September 25, 2026. Executive Chairman Michael Tardugno may convert up to 100% of his salary, receiving additional shares equal to 20%, 40%, or 20% of the net stock payment amount depending on the issuance date between July 31 and September 25, 2026. Chief Medical Officer Douglas Faller may convert up to 40% of his salary, with additional shares valued at 12% (amended to 15%) of the net stock payment from July 31 through September 25, 2026. Imunon, Inc. operates in the biotechnology industry, focusing on cancer immunotherapy.
Imunon, Inc. reported financial results for the quarter ended June 30, 2026, posting a net loss of $2.8 million, or $0.54 per share, compared to a net loss of $2.7 million in the prior year period. Operating expenses remained flat at $2.8 million, with research and development costs rising to $1.5 million from $1.2 million, while general and administrative expenses decreased to $1.3 million from $1.5 million. The company raised $10 million through a corporate development transaction in June 2026, consisting of preferred stock and secured promissory notes. Clinically, enrollment in the pivotal Phase 3 OVATION 3 trial for IMNN-001 is exceeding forecasts, with completion expected by early 2029. Imunon operates as a clinical-stage biotechnology company developing DNA-mediated immunotherapies for cancer treatment.
Imunon, Inc. announced the retirement of interim Chief Financial Officer Jeffrey Church, effective July 1, 2026, and the appointment of Josh Blacher to serve as the new interim Chief Financial Officer under a master services agreement with Danforth Health, Inc. Mr. Church will continue in a consulting role with a $10,000 monthly retainer. Imunon, Inc. is a life sciences company focused on developing therapeutic solutions.