IMUNON raises $10 million via preferred stock and secured notes to bolster its cash position.
IMUNON (IMNN) has finalized agreements to raise $10 million in gross proceeds through a financing deal. The transaction includes $2.5 million from the sale of 250 shares of non-redeemable, non-convertible preferred stock, with the remainder from two secured notes.
The company did not disclose prior financing rounds or consensus expectations for this raise. Details on the use of proceeds or market reaction were not provided in the announcement.
The funding is expected to support operational needs and strategic initiatives as IMUNON advances its pipeline.