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Jun 30, 2023
Celsion Q2 2023 Earnings Report
Reported financial results for Q2 2023 and provided a business update.
Key Takeaways
IMUNON reported a net loss of $5.6 million, or $0.61 per share, for the second quarter of 2023, compared to a net loss of $6.0 million, or $0.87 per share, for the second quarter of 2022. The company's cash, investments and accrued interest receivable totaled $24.1 million as of June 30, 2023.
Successfully de-risked PlaCCine modality preclinically across many pathogens of interest.
Expect to be in the clinic with IMNN-101, a next-generation COVID-19 seasonal booster, in first quarter of 2024.
Announced new pilot manufacturing capability for DNA plasmids and nanoparticle delivery systems.
Expect to reach several value-creating milestones over the next six to 18 months, including reporting additional interim data on IMNN-001 and filing the IND for SARS-CoV-2 vaccine.
Celsion
Celsion
Forward Guidance
IMUNON expects to reach several value-creating milestones over the next six to 18 months.
Positive Outlook
- Reporting additional interim data on IMNN-001 from OVATION 2 Study
- Reporting data from the combination study with bevacizumab in advanced ovarian cancer
- Reporting topline data from the OVATION 2 Study
- Filing the IND for SARS-CoV-2 vaccine
- Announcing proof-of-concept vaccine data for the next pathogen target