IMUNON (IMNN) Stock Is Trending Wednesday: What's Going On?

Shares of IMUNON Inc (NASDAQ:IMNN) are trading higher Wednesday morning, though off their session high, after the company announced a clinical milestone for its lead drug candidate, IMNN-001.

What To Know: IMUNON has officially dosed the first patient in its pivotal Phase 3 OVATION 3 study, evaluating the immunotherapy for the treatment of newly diagnosed advanced ovarian cancer.

The initiation of this late-stage trial is a key step toward potential regulatory approval and has fueled investor optimism. The OVATION 3 study will assess the safety and efficacy of IMNN-001 combined with standard-of-care chemotherapy against chemotherapy alone.

This move into Phase 3 is supported by encouraging data from the preceding Phase 2 OVATION 2 study. Those results, presented in June, demonstrated consistent and clinically meaningful improvements in overall survival and other key metrics for patients receiving IMNN-001, all with a favorable safety profile.

CEO Stacy Lindborg highlighted the company’s urgency and readiness, stating, “We have the resources in place needed to advance IMNN-001 efficiently.” With limited effective options currently available for women with advanced ovarian cancer, a successful outcome for IMNN-001 could address a significant unmet medical need.

Price Action: According to data from Benzinga Pro, IMNN shares are trading higher by 12.6% to $8.84 Wednesday morning. The stock has a 52-week high of $54.75 and a 52-week low of $5.55.

Read Also: GSK Lifts Outlook As Specialty Medicines, Vaccines Fuel Growth

How To Buy IMNN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Imunon’s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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