Imunon Q2 2024 GAAP EPS $(0.51) Beats $(0.60) Estimate, Cash, Investments And Accrued Interest Receivable Of $5.3M As Of June 30, 2024 Combined With Net Proceeds Of Approximately $9M From Registered Direct Offering, Capital Resources Are Expected To Be Sufficient To Fund Its Operations Into Q3 2025
Portfolio Pulse from Benzinga Newsdesk
Imunon reported a Q2 2024 GAAP EPS of $(0.51), beating the estimate of $(0.60). The company has $5.3M in cash, investments, and accrued interest receivable as of June 30, 2024, and net proceeds of approximately $9M from a registered direct offering. These capital resources are expected to fund operations into Q3 2025.
August 14, 2024 | 12:04 pm
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Imunon reported a Q2 2024 GAAP EPS of $(0.51), beating the estimate of $(0.60). The company has $5.3M in cash, investments, and accrued interest receivable as of June 30, 2024, and net proceeds of approximately $9M from a registered direct offering. These capital resources are expected to fund operations into Q3 2025.
Imunon's better-than-expected EPS and strong capital position are positive indicators for the company's financial health and operational sustainability. This is likely to boost investor confidence and positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100