IMUNON — Third Quarter 2026 Earnings Summary

Financial Performance:

• Net loss available to common shareholders for the three months ended September 30, 2026, was $3.8 million ($0.64 per share), compared to $3.4 million ($1.16 per share) in the same period of 2025.
• Net loss available to common shareholders for the nine months ended September 30, 2026, was $10.9 million ($2.01 per share), compared to $10.3 million ($5.53 per share) in the same period of 2025.
• Operating expenses for the third quarter of 2026 were $3.4 million, largely unchanged from $3.5 million in the third quarter of 2025.
• Operating expenses for the nine months ended September 30, 2026, were $10.5 million, compared to $10.4 million in the same period of 2025.
• Research and development expenses were $1.8 million for the third quarter of 2026 (down from $1.9 million in 2025) and $5.6 million for the nine months ended September 30, 2026 (up from $5.3 million in 2025).
• Clinical costs associated with OVATION studies were $0.4 million for the third quarter of 2026 (down from $0.5 million in 2025) and $0.8 million for the nine-month period (flat with 2025).
• General and administrative expenses were $1.7 million for the third quarter of 2026 (up from $1.6 million in 2025) and $5.0 million for the nine months ended September 30, 2026 (down from $5.1 million in 2025).
• Net cash used in operating activities for the nine months ended September 30, 2026, was $10.2 million, unchanged from the same period in 2025.
• Cash and cash equivalents were $4.0 million at September 30, 2026, with an additional $5.0 million in restricted cash.
• Total stockholders' equity decreased to $2.6 million at September 30, 2026, from $7.1 million at December 31, 2025.
• Total liabilities increased to $9.4 million at September 30, 2026, from $5.2 million at December 31, 2025.

Business Segments and Product Lines:

• IMNN-001 is the lead clinical program, a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer, currently in the Phase 3 OVATION 3 trial.
• Enrollment in the Phase 3 OVATION 3 study is expected to be completed by the first quarter of 2029.
• Phase 2 OVATION 2 study data demonstrated IMNN-001 was safe and well-tolerated, achieved local delivery of IL-12, and induced anti-tumoral immune responses with no cytokine release syndrome or higher incidence of immune-related events compared to control.
• Translational analyses from OVATION 2 indicated IMNN-001 enhanced favorable ratios of CD8+ T cells to regulatory T cells and CD8+ to CD4+ cells in tumors.
• The Independent Data Monitoring Committee (IDMC) recommended the ongoing Phase 2 minimal residual disease (MRD) translational study of IMNN-001 continue without modification in September 2026.
• ThermoDox® rights were sold to VoxelDox Therapeutics, Inc., which intends to advance development for glioblastoma multiforme.
• IMUNON entered a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) to support further clinical and non-clinical development of IMNN-001 under the NCI Experimental Therapeutics (NExT) Program.

Other Key Points:

• On September 29, 2026, the Company exchanged $1.2 million of outstanding debt and accrued interest for non-convertible Series B Preferred Stock, reducing the A-1 Note balance by approximately 43% and increasing stockholders' equity without issuing common stock or warrants.
• The ThermoDox® sale agreement includes an equity stake in VoxelDox, payments of up to $16.5 million contingent on development milestones, and significant royalties on future net sales, contingent on VoxelDox raising $2.5 million in funding.
• On October 27, 2026, the Company filed a Form S-1 registration statement for a proposed offering of securities, which had not yet become effective as of the release date.
• Stacy R. Lindborg, Ph.D., President and CEO, highlighted the disciplined approach to capital allocation and the strategic focus on executing the OVATION 3 trial.
• The Company hosted its 2026 R&D Day in New York featuring presentations on completed Phase 2 and pivotal Phase 3 studies.
• New translational data from the OVATION 2 study was presented at the Society for Immunotherapy of Cancer (SITC) 41st Annual Meeting in November 2026.