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TickerIMNN
SectorBiotechnology
Mkt cap$7M
EV / EBITDA0.1×
PostureHigh Velocity
Composite70/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 749647

Imunon, Inc.

IMNNHIGH VELOCITYFILING INTENSITY

Imunon, Inc. reads as High Velocity (composite 70/100); pressure / disclosure signals dominate the posture this cycle · primary market Healthcare.

Lens

Disclosed M&A capital (2023–2025)

N/A

flat

vs N/A in 2020–2022

Disclosed transactions

N/A

flat

0/3 active fiscal years in window

Buyer archetype

Selective Buyer

Acquisition use is visible but targeted.

Composite score

70

/100

High Velocity dominates · Filing Intensity

Financial snapshot
RevenueN/A
EBITDAN/A
Enterprise valueN/A
EV / RevenueN/A
EV / EBITDA0.1×
P/EN/A
Cash$9M
Total debt$6M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

14/100

Companies actively deploying disclosed capital into M&A

  • $58M disclosed buyer spend

Buyer Cadence

14/100

Buyer-side companies with recent filing activity

  • Filed within 36d
  • 334 8-Ks

Target Probability

20/100

Issuers showing target-side patterns from filings

  • 5 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 5 activism filings

Pressure Watch

18/100

Issuers facing activism, governance, or control pressure

  • 5 activism filings
  • Latest activism 5.4y ago; heavily discounted

Distress Watch

44/100

Issuers showing financial-distress filing patterns

  • 10-Q 208d stale
  • 5 activism filings

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

Dominant
70/100

Issuers with the highest filing-activity intensity

  • 334 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Market cap $7M
  • 10-Q 208d ago
  • 1 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $28M · Peak count: 1

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
2024N/AN/AN/AN/A
2023N/AN/AN/AN/A
2022N/AN/AN/AN/A
2021N/AN/AN/AN/A
2020N/AN/AN/AN/A
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

The OPTIMA Study is expected to enroll up to 550 patients globally at up to 65 sites in the U.S., Canada, European Union (EU), China and other countries in the Asia-Pacific region and will evaluate ThermoDox® in combination with standardized RFA.

10-KFY2017

We initiated the OPTIMA Study in 2014. The OPTIMA Study was designed with extensive input from globally recognized hepatocellular carcinoma researchers and expert clinicians and after receiving formal written consultation from the FDA.

10-KFY2017

The OPTIMA Study represents an evaluation of ThermoDox® in combination with a first line therapy, RFA, for newly diagnosed, intermediate stage HCC patients.

10-KFY2020

We may also consider and evaluate strategic alternatives, including investment in, or acquisition of, complementary businesses, technologies, or products.

10-KFY2021

Utrecht University in the Netherlands continues to enroll patients in a Phase I breast cancer study to determine the safety, tolerability and feasibility of ThermoDox® in combination with Magnetic Resonance Guided High Intensity Focused Ultrasound (MR-HIFU) hyperthermia and cyclophosphamide therapy for the local treatment of the primary tumor in metastatic breast cancer (mBC).

10-KFY2020
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Healthcare

Market spend (2023–2025)
$195B
Market spend (2020–2022)
$253.6B
Recent vs prior
−23%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

0.1×EV / EBITDA

IMNN trades at a -12.9-turn discount to the Healthcare peer median of 12.9×.

EV / Revenue
N/A
Net debt / EBITDA
N/A
Peer median EV / EBITDA
12.9×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
23.4×6.7×3.1×$62.8B$18B
17.2×0.9×1.9×$449.7B$28.1B
12.9×6.0×2.6×$37.2B$26.7B
11.7×0.5×2.5×$200.4B$6.4B
9.3×1.9×2.8×$76.4B$1.3B
Imunon, Inc.IMNN
0.1×N/AN/AN/AN/A

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Healthcare. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)392026-03-31
  • 10-Q (quarterly)982025-11-13
  • 8-K (event)3342026-05-04
  • Proxy / DEF 14A422026-05-04
  • Activism (13D / DFAN / PREC)52021-01-25

Signals on file

  • elevated

    Activism on file

    2021-01-25

    5 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

Imunon, Inc.: Issuer Brief | SE-Cluster