New York, May 28, 2026, 08:02 EDT
- Imunon shares traded up in light pre-market action, with under 600 shares moving so far.
- CEO Stacy Lindborg got 1,491 shares instead of a part of her cash salary, according to an SEC filing from May 27.
- Investors are still focused on cash. Imunon has warned there’s substantial doubt about its ability to keep operating as a going concern.
Imunon Inc shares looked set to open up premarket Thursday. The thinly traded stock ticked higher after a Wednesday evening filing revealed CEO Stacy Lindborg took stock rather than a portion of her salary.
The Nasdaq-listed biotech changed hands at $2.38 in pre-market trade at 7:30 a.m. ET, a gain of 3.5% from the previous close. Just 531 shares had traded, based on Public.com. Pre-market action often swings more because there aren’t as many participants trading before the regular session.
Nasdaq’s regular session hadn’t started yet when this was published. Normal trading hours are 9:30 a.m. to 4:00 p.m. ET, with pre-market starting at 4:00 a.m., according to Nasdaq. The 2026 holiday calendar lists Memorial Day as Monday, May 25. May 28 isn’t shown as a market holiday.
Small but up-to-date, a new SEC Form 4 posted May 27 showed Lindborg got 1,491 Imunon shares. The filing’s footnote called it “granted in lieu of cash” as part of base pay. The shares were a compensation grant, not bought on the open market. SEC
Imunon is a micro-cap, clinical-stage company. Its stock doesn’t leave much room for uncertainty. Shares last showed at $2.30 after hours, giving it a market cap of roughly $11.6 million, market data showed.
Indexes set fresh highs Wednesday as Wall Street’s main gauges ended higher, with the Nasdaq Composite adding 0.07% at 26,674.74, according to Reuters. The Nasdaq Biotechnology Index managed a 0.30% gain to close at 5,931.31.
Imunon shares continue to move on the May 12 update. The company said its main drug, IMNN-001, remains in Phase 3 OVATION 3 testing for advanced ovarian cancer in newly diagnosed patients. Phase 3 trials are late-stage and often used before companies seek approval.
Lindborg said enrollment for OVATION 3 was “ahead of plan” and IMNN-001 was “well positioned” after the final Phase 2 readout. Imunon expects to finish Phase 3 enrollment by the first quarter of 2029. The company also said the FDA is aligned on the study protocol and the steps to file a Biologics License Application. IMUNON INC.
Survival is the key metric. Imunon says final Phase 2 results put median overall survival at 45.1 months for women on IMNN-001 with standard care, versus 30.4 months on standard care. The company also pointed to a 24.2-month boost in median survival for patients who got IMNN-001 along with chemo and PARP inhibitors, the ovarian cancer maintenance drugs.
Competition in ovarian cancer is direct. AstraZeneca and Merck’s Lynparza and GSK’s Zejula are already on the market as PARP-inhibitors for maintenance therapy. Imunon is aiming to prove its IL-12 immunotherapy can boost survival, but it’s going up against big pharma with established products in the space.
Imunon is low on cash. The company logged $4.8 million in cash and cash equivalents at the end of March, according to its latest quarterly filing. Imunon posted a first-quarter net loss of $4.3 million, burning through $4.0 million in operations. It warned this raised “substantial doubt” about its ability to stay in business, saying it might need more funds. IMUNON INC.
Imunon warned that higher trial costs, slower enrollment or tighter capital markets could force it to sell shares or seek other funding that would dilute current investors. The company said it may use its at-the-market program and other deals to raise cash, but there’s no guarantee it can secure new funds on good terms.
