Imunon, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Imunon, Inc. has filed its annual 10-K report for the fiscal year ended December 31, 2023, detailing its financial performance and business operations.</b>

AI Summary

Imunon, Inc. (IMNN) filed a Annual Report (10-K) with the SEC on March 28, 2024. Imunon, Inc. filed its 10-K for the fiscal year ending December 31, 2023. The company was formerly known as Celsion Corp and Cheung Laboratories Inc. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial statement data for 2023, 2022, and 2021 is included. The company's principal executive offices are located in Lawrenceville, NJ.

Why It Matters

For investors and stakeholders tracking Imunon, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Imunon's financial health and operational status for the past fiscal year, crucial for investors assessing the company's trajectory. The historical financial data presented allows for year-over-year comparisons, enabling stakeholders to identify trends and evaluate the company's progress and stability.

Risk Assessment

Risk Level: medium — Imunon, Inc. shows moderate risk based on this filing. The company's financial statements and risk factors are not fully detailed in this header, requiring a deeper dive into the full filing to assess specific financial risks and operational challenges.

Analyst Insight

Review the full 10-K filing to analyze Imunon's financial statements, revenue segments, and detailed risk factors to understand its current financial health and future prospects.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-28 — Filing Date (Date of submission)
• 2023-01-01 — Reporting Start Date (Fiscal year)
• 2022-12-31 — Prior Year End (Comparative financial data)

Key Players & Entities

• Imunon, Inc. (company) — Filer name
• Celsion Corp (company) — Former company name
• Cheung Laboratories Inc (company) — Former company name
• Lawrenceville, NJ (location) — Business address

FAQ

Industry Context

Imunon, Inc. operates in the pharmaceutical preparations industry, focusing on the development and commercialization of pharmaceutical products.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business, financial condition, and management.

What Investors Should Do

1. Analyze the full 10-K for detailed financial statements, including revenue, net income, and balance sheet information.
2. Examine the 'Risk Factors' section for potential challenges and uncertainties facing Imunon.
3. Review management's discussion and analysis (MD&A) for insights into the company's strategy and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-28: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing is the annual 10-K report, providing a comprehensive year-end overview, distinct from interim filings like 10-Q.

Key Financial Figures

• $0.01 — ch registered Common Stock, Par Value $0.01 Per Share IMNN The Nasdaq Stock Mar
• $1.29 — ter) based on the closing sale price of $1.29 for the Registrant's common stock on th

Filing Documents

• form10-k.htm (10-K) — 1815KB
• ex21-1.htm (EX-21.1) — 4KB
• ex23-1.htm (EX-23.1) — 5KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• ex-97.htm (EX-97.0) — 39KB
• 0001493152-24-011616.txt (&nbsp;) — 7455KB
• imnn-20231231.xsd (EX-101.SCH) — 56KB
• imnn-20231231_cal.xml (EX-101.CAL) — 80KB
• imnn-20231231_def.xml (EX-101.DEF) — 219KB
• imnn-20231231_lab.xml (EX-101.LAB) — 488KB
• imnn-20231231_pre.xml (EX-101.PRE) — 391KB
• form10-k_htm.xml (XML) — 868KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 1 OVERVIEW 2 THERAPLAS MODALITY: IMNN-001 DEVELOPMENT PROGRAM 3 Ovarian Cancer Overview 3 IMNN-001 Immunotherapy 3 OVATION I Study 3 OVATION 2 Study 5 PLACCINE DNA VACCINE TECHNOLOGY PLATFORM 8 COVID-19 Vaccine Overview 8 Our Next Generation Vaccine Initiative 9 THERMODOX DIRECTED CHEMOTHERAPY 11 OPTIMA Study 11 BUSINESS STRATEGY AND DEVELOPMENT PLAN 12 RESEARCH AND DEVELOPMENT EXPENDITURES 14 GOVERNMENT REGULATION 14 MANUFACTURING AND SUPPLY 25 SALES AND MARKETING 26 PRODUCT LIABILITY AND INSURANCE 26 COMPETITION 26 INTELLECTUAL PROPERTY 27 Patents and Proprietary Rights 27 EMPLOYEES 28 COMPANY INFORMATION 28 AVAILABLE INFORMATION 28 ITEM 1A.

RISK FACTORS

RISK FACTORS 29 ITEM 1B. UNRESOLVED STAFF COMMENTS 45 ITEM 1C. CYBERSECURITY 45 ITEM 2.

PROPERTIES

PROPERTIES 45 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 46 ITEM 4. MINE SAFETY DISCLOSURES 46 i IMUNON, INC. FORM 10-K TABLE OF CONTENTS (continued) PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 47 Market for Our Common Stock 47 Record Holders 47 Dividend Policy 47 Unregistered Sales of Equity Securities 47 Issuer Purchases of Equity Securities 47 ITEM 6.

SELECTED FINANCIAL DATA

SELECTED FINANCIAL DATA 47 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 48 Overview 48 Business Plan 48 Financing Overview 50 Critical Accounting Policies and Estimates 51 Results of Operations 52 Financial Condition, Liquidity and Capital Resources 55 Off-Balance Sheet Arrangements 56 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 56 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 56 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 56 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 56 ITEM 9B. OTHER INFORMATION 57 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 57 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 57 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 62 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 68 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 70 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 70 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 71 1. FINANCIAL STATEMENTS 71 2. FINANCIAL STATEMENT SCHEDULES 71 3. EXHIBITS 72 ITEM 16. FORM 10-K SUMMARY 74 ii ITEM 1.

BUSINESS

BUSINESS FORWARD-LOOKING Certain of the statements contained in this Annual Report on Form 10-K (this "Annual Report") are forward-looking and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements may relate to such matters as anticipated financial performance, business prospects, technological developments, product pipelines, clinical trials and research and development activities, the adequacy of capital reserves and anticipated operating results and cash expenditures, current and potential collaborations, strategic alternatives and other aspects of our present and future business operations and similar matters. These statements involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, among other things, unforeseen changes in the course of research and development activities and in clinical trials; possible changes in cost, timing and progress of development, preclinical studies, clinical trials and regulatory submissions; our collaborators' ability to obtain and maintain regulatory approval of any of our drug candidates; possible changes in capital structure, financial condition, future working capital needs and other financial items; uncertainties and assumptions regarding the potential worsening global economic conditions and the recent disruptions to, and volatility in, financial markets in the U.S. and worldwide resulting from the COVID-19 pandemic, the Russian invasion of Ukraine and the unrest in the Middle East on our business, operations, clinical trials, sup

View Full Filing

View this 10-K filing on SEC EDGAR