---
title: "Imunon: Buy Rating Reiterated as Phase 3 IMNN-001 Progress and Extended Cash Runway Support Unchanged $10 Price Target"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295694457.md"
description: "Maxim Group analyst Jason McCarthy reiterated a Buy rating on Imunon with an unchanged $10 price target. The recommendation is supported by positive Phase 3 progress for IMNN-001 in ovarian cancer, encouraging data from OVATION-3 and MRD studies, and an extended cash runway into 2027 following June financing. Despite these fundamentals, IMNN's stock has dropped 52.92% over the past six months."
datetime: "2026-08-12T17:15:53.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295694457.md)
  - [en](https://longbridge.com/en/news/295694457.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295694457.md)
generator: "portal-rs"
---

# Imunon: Buy Rating Reiterated as Phase 3 IMNN-001 Progress and Extended Cash Runway Support Unchanged $10 Price Target

Analyst Jason McCarthy of Maxim Group maintained a Buy rating on Imunon, retaining the price target of $10.00.

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Jason McCarthy has given his Buy rating due to a combination of factors tied to Imunon’s clinical and financial position. He highlights IMNN-001 as a differentiated DNA-based immunotherapy in phase 3 for newly diagnosed advanced ovarian cancer, building on phase 2 data that showed meaningful overall survival gains, particularly in patients eligible for PARP inhibitor maintenance. He also points to the ongoing OVATION-3 and minimal residual disease (MRD) studies, which are generating encouraging signals on MRD-positivity, ctDNA clearance and rates of no evidence of disease, suggesting IMNN-001 may materially improve long-term outcomes in a setting where standards of care and survival rates have stagnated.

In addition, McCarthy notes that the June financing has extended Imunon’s cash runway into 2027, reducing near-term balance sheet risk while the large phase 3 program and MRD work advance. He expects multiple catalysts through 2026, including an R&D Day, study updates and scientific presentations that could support higher valuation as the data set matures. Incorporating clinical risk adjustments and discounted cash flow, EPS and sum-of-the-parts analyses, he maintains a 12‑month price target of $10, unchanged, which implies substantial upside from current levels and underpins his Buy recommendation on IMNN.

IMNN’s price has also changed dramatically for the past six months – from $3.420 to $1.610, which is a -52.92% drop .

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## Related News & Research

- [Imunon to host R&D day spotlighting Phase 3 OVATION 3 trial for IMNN-001 in ovarian cancer](https://longbridge.com/en/news/297045598.md)
- [Exclusive: Imunon Says Lead Drug Continues To Show Promise in Advanced Ovarian Cancer Patients](https://longbridge.com/en/news/293343936.md)
- [Invivoscribe Begins Commercial Shipments of PrepQuant™ Systems, Enabling High-Sensitivity Sample Preparation for MRD Testing](https://longbridge.com/en/news/297822092.md)
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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**