IMUNON Reports Compliance With Nasdaq Listing Requirements
Portfolio Pulse from Benzinga Newsdesk
IMUNON, Inc. (NASDAQ:IMNN) announced it has regained compliance with Nasdaq's Minimum Bid Price Requirement and will maintain its listing on the Nasdaq Capital Market. The company had previously been notified of non-compliance due to its stock price falling below $1.00 for 30 consecutive days but achieved compliance after its stock price remained above $1.00 for 10 consecutive trading days. IMUNON is advancing in its development of immuno-oncology therapies and vaccines, with significant progress in its OVATION 2 Study for advanced ovarian cancer and a Phase 1 study for a COVID-19 booster vaccine.
April 11, 2024 | 12:15 pm
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POSITIVE IMPACT
IMUNON regains compliance with Nasdaq's Minimum Bid Price Requirement, ensuring its continued listing. The company is making progress in its immuno-oncology and vaccine development programs.
Regaining compliance with Nasdaq's Minimum Bid Price Requirement removes the immediate risk of delisting, which can positively impact investor confidence and stock price. The progress in IMUNON's development programs, especially the OVATION 2 Study and the upcoming Phase 1 COVID-19 vaccine trial, could further bolster investor sentiment and potentially lead to stock price appreciation in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100