Imunon hit its highest levels in nearly three years Tuesday, fueled by its announcement to present Phase 2 OVATION 2 study immune biomarker data at the European Society for Medical Oncology Gynaecological Cancers Congress 2025.
The accepted abstract presents the results of IMNN-001, an IL-12 gene therapy developed from Imunon's TheraPlas platform, used in conjunction with neoadjuvant and adjuvant chemotherapy treatments for newly diagnosed, advanced ovarian cancer patients.
Imunon shares surged 95.69% to close at $2.27 on May 27, before pulling back 23.35% in after-hours trading to $1.74.
Premal H. Thaker, the chair of the Ovation 2 and 3 study, will deliver the presentation at the June 19–21 Vienna-based congress.
The announcement follows recent news that new Ovation 2 data will also be featured in an oral presentation at the 2025 ASCO Annual Meeting and published in Gynecologic Oncology.
These results showed meaningful increases in overall and progression-free survival for the IMNN-001 treatment group, with a median 13-month improvement in overall survival.
CEO Stacy Lindborg called the data “remarkable” and said the growing interest from EU and Latin American researchers reinforces confidence in the company’s Phase 3 Ovation 3 trial and regulatory ambitions.
The Phase 3 Ovation 3 trial, which recently initiated its first two sites, will evaluate IMNN-001 plus chemotherapy versus chemotherapy alone in patients with Stage IIIC or IV epithelial ovarian cancer.
The primary endpoint is overall survival.
On Stocktwits, retail sentiment was ‘extremely bullish’ amid a 2,554% surge in 24-hour message volume.
One user commented that anyone worried about the after-hours drop should note that the stock behaved similarly last Friday, followed by a strong run the next day.
Another user highlighted the possibility of an upcoming press release announcing a major partnership with a big pharmaceutical company to support funding and potential licensing or commercialization deals, citing CEO comments from recent weeks.
The stock has risen 116% so far in 2025.
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