Imunon Doses First Patient With Experimental Cancer Drug In Late-Stage Trial: Retail Thinks Company Is Undervalued

IMUNON, Inc. (IMNN) said on Wednesday its first patient has been dosed with the firm’s lead candidate, IMNN-001, as part of a late-stage trial evaluating the drug in the treatment of women with newly diagnosed advanced ovarian cancer.

Shares of the company traded 4% higher in morning trade at the time of writing.

On Stocktwits, retail sentiment around IMUNON jumped from ‘bearish’ to ‘neutral’ over the past 24 hours while message volume stayed at ‘high’ levels.

A Stocktwits user opined that the company is undervalued.

The late-stage study is aimed at assessing the safety and efficacy of IMNN-001 plus standard of care neoadjuvant and adjuvant chemotherapy of Paclitaxel and Carboplatin compared to standard of care chemotherapy alone.

The primary endpoint of the study is overall survival or lengthening the lifespan of patients.

The study will also check secondary endpoints such as surgical response score, chemotherapy response score, clinical response, and time to second-line treatment.

“We have great urgency around this program because patients do not have any other options besides the standard of care, which includes neoadjuvant and adjuvant chemotherapy and surgery,” CEO Stacy Lindborg said.

According to IMUNON, epithelial ovarian cancer is the sixth deadliest malignancy among women in the U.S. There are approximately 20,000 new cases of ovarian cancer every year, and approximately 70% are diagnosed in advanced Stage III/IV, the company said.

Earlier this month, IMUNON completed a reverse stock split of its issued and outstanding common stock at a ratio of 1:15 to meet the minimum bid price requirement for continued listing on the Nasdaq.

IMNN stock is down by 43% this year and by about 84% over the past 12 months.

Read also: Humana Stock Gains On Upbeat Earnings And Raised Guidance, Draws Retail Praise

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