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Investing.com - H.C. Wainwright maintained its buy rating and $14.00 price target on Imunon (NASDAQ:IMNN), representing significant upside from the current price of $1.00. According to InvestingPro data, analyst targets range from $6.00 to $14.00, with two analysts recently revising earnings estimates upward for the upcoming period.
Imunon, a clinical-stage biotechnology company with a market capitalization of $21.3 million, revealed on June 18 that results from its randomized Phase 2 trial evaluating IMNN-001 plus chemotherapy in women with newly diagnosed advanced ovarian cancer would be presented at ESMO’s Gynaecological Cancers Congress in Vienna. The biomarker analysis shows localized increases in anti-cancer immune cytokines IL-12, IFN-γ, and TNF-α of approximately 27, 62, and 36-fold, respectively.
The translational data follows Imunon’s complete OVATION 2 results presented at ASCO in early June, where patients treated with IMNN-001 experienced a median 13-month increase in overall survival (46 vs. 33 months) and a 3-month improvement in progression-free survival (14.9 vs. 11.9 months) compared to standard of care.
The study demonstrated benefits in chemotherapy response score and surgical response score, with a favorable safety profile characterized by the absence of serious immune-related adverse events, systemic toxicity, and cytokine release syndrome. The most common adverse events reported were abdominal pain, nausea, and vomiting.
Results from the 112-patient study were also published in the peer-reviewed journal Gynecologic Oncology, with H.C. Wainwright noting it is "highly encouraged by the data presented from these analyses as they continue to bolster IMNN-001’s profound safety and efficacy profile." While the stock has seen a strong 20.5% return over the past six months, InvestingPro analysis reveals 12+ additional key insights about Imunon’s financial health and market position. Get the complete picture with InvestingPro’s comprehensive research report, available for 1,400+ US stocks.
In other recent news, IMUNON, Inc. announced significant findings from its Phase 2 OVATION 2 Study of IMNN-001, a DNA-mediated immunotherapy for advanced ovarian cancer. The study demonstrated noteworthy improvements in overall survival and progression-free survival among participants, with a median increase of 13 months in overall survival compared to standard treatments. IMUNON is advancing to a Phase 3 trial with the first two sites already launched, and the therapy continues to show a favorable safety profile. Separately, IMUNON reported promising durability data for its COVID-19 vaccine alternative, IMNN-101, demonstrating a stronger immune response compared to existing mRNA vaccines. The company is exploring strategic partnerships to further develop its PlaCCine technology platform. Additionally, IMUNON appointed Kimberly Graper as interim CFO following the termination of David Gaiero, marking a key executive change. The company also regained compliance with Nasdaq’s minimum bid price requirement, ensuring its continued listing on the exchange. These developments highlight IMUNON’s ongoing efforts in advancing its therapeutic and vaccine platforms.
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