IMUNON announces private placement offering totaling up to $9.75 million.

From GlobeNewswire: 2025-05-23 18:59:00

IMUNON, Inc. announced a private placement offering, with gross proceeds of $3.25 million upfront and potential additional proceeds of $6.5 million from short-term warrants. The offering includes 7,222,223 shares of common stock and short-term warrants to purchase up to 14,444,446 shares at $0.45 per share. The company plans to use the funds for working capital and general corporate purposes. The offering is expected to close on May 27, 2025, pending customary closing conditions. H.C. Wainwright & Co. is the exclusive placement agent, while Brookline Capital Markets is the financial advisor.

IMUNON is a clinical-stage biotech company focusing on DNA-mediated immunotherapy. Their lead program, IMNN-001, is for advanced ovarian cancer treatment, and they have completed dosing for a COVID-19 booster vaccine study. The company aims to advance DNA technology for various diseases. IMUNON issued shares and warrants in a private placement, totaling $3.25 million upfront with potential additional proceeds of $6.5 million. The offering is set to close on May 27, 2025, subject to customary conditions.



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