Analyst Emily Bodnar from H.C. Wainwright maintained a Buy rating on Imunon (IMNN – Research Report) and decreased the price target to $12.00 from $13.00.
Emily Bodnar’s rating is based on a combination of promising interim clinical data and strategic development progress for Imunon’s pipeline. Imunon’s recent clinical trials, particularly the OVATION 2 study, have shown encouraging results, with the combination of IMNN-001 and neoadjuvant chemotherapy outperforming chemotherapy alone in the treatment of advanced ovarian cancer. The interim data suggests a significant delay in disease progression and is nearing the primary endpoint target, which supports the potential for a successful Phase 3 study. Additionally, there’s strong evidence of efficacy in a subset of patients treated with a combination that includes PARP inhibitors, which could be a game-changer for nearly half of the ovarian cancer patient population.
Further influencing the Buy rating is the rapid advancement of the IMNN-101 COVID booster candidate. With Phase 1 enrollment already underway and the first clinical site activated, Imunon has demonstrated an ability to move quickly through the clinical trial phases. The candidate targets the Omicron XBB1.5 variant and has shown promising preclinical results, with immunogenicity and protection levels comparable to commercial mRNA vaccines. Positive outcomes from this study could significantly de-risk the company’s PlaCCine platform and open doors for its application against other pathogens, presenting a substantial opportunity for future growth and partnerships.
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Imunon (IMNN) Company Description:
Celsion Corp . engages in the research and development of pharmaceutical products for cancer treatments. Its portfolio includes deoxyribonucleic acid-mediated immunotherapy and ribonucleic acid-based therapies. It operates through the Celsion and ThermoDox brands. The company was founded by Yim-Pan Cheung in 1982 and is headquartered in Lawrenceville, NJ.
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