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Mar 31, 2023
Celsion Q1 2023 Earnings Report
IMUNON reported financial results for Q1 2023 and provided a business update.
Key Takeaways
IMUNON reported a net loss of $5.6 million, or $0.68 per share, for the first quarter of 2023. The company's cash, investments and restricted cash totaled $37.3 million as of March 31, 2023, which, combined with planned future sales of New Jersey NOLs, is expected to fund operations into 2025.
Advanced PLACCINE modality with promising data, demonstrating stability at 4°C.
Applied for pre-IND consultation with the FDA for a seasonal COVID-19 booster vaccine.
Developed an in-house pilot manufacturing capability for DNA plasmids and nanoparticle delivery systems.
Expect to report several value-creating developments over the next six to 18 months, including additional interim data on IMNN-001.
Celsion
Celsion
Forward Guidance
IMUNON anticipates several value-creating developments over the next 6-18 months.
Positive Outlook
- Reporting additional interim data on IMNN-001 from our OVATION 2 Study
- Reporting additional interim data on combination study with bevacizumab in advanced ovarian cancer
- Reporting topline data from the OVATION 2 Study
- Filing the IND for our SARS-CoV-2 vaccine
- Announcing proof-of-concept vaccine data for our next pathogen