24/7 Market News Snapshot 23 May, 2025 – Imunon, Inc. Common Stock (NASDAQ:IMNN)

May 23, 2025

DENVER, Colo., 23 May, 2025 (www.247marketnews.com) – (NASDAQ:IMNN) are discussed in this article.
Imunon, Inc. (NASDAQ:IMNN), a clinical-stage biotechnology firm, has generated significant market activity, leading to a dramatic increase in investor interest. Today, the stock opened at $1.27 and showcased notable bullish momentum, peaking with a remarkable intraday gain of 116.61%. Currently trading at $0.90, the volume surged to an impressive 404.80 million shares, signaling strong market engagement and optimism regarding Imunon’s trajectory.

This market enthusiasm comes on the heels of Imunon’s recent announcement of a private placement aimed at raising approximately $3.25 million. The financing involves the issuance of 7,222,223 shares of common stock and accompanying short-term warrants to acquire an additional 14,444,446 shares, at a per share price of $0.45. This structure provides a potential for investors to contribute an additional $6.5 million through warrant exercises, reflecting a proactive strategic approach amid current market dynamics.

The private placement is expected to close on or about May 27, 2025, contingent upon standard closing conditions. H.C. Wainwright & Co. serves as the exclusive placement agent, with Brookline Capital Markets providing advisory support. The funding will bolster Imunon’s innovative programs, particularly in advancing DNA-mediated immunotherapy developments aimed at treating complex diseases such as advanced ovarian cancer and contributing to COVID-19 vaccine initiatives.

Imunon’s commitment to leveraging its proprietary non-viral DNA technology has positioned it at the forefront of medical innovation. The company is dedicated to transforming therapeutic approaches in oncology and infectious diseases, which aligns with its broader mission to provide groundbreaking treatment solutions. As Imunon continues to navigate the evolving biotech landscape, it aims to engage closely with both investors and the medical community to drive its programs forward and enhance patient outcomes.

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