0001493152-25-008460 | 10-K | XBRL Viewer

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RELATED PARTY TRANSACTION (Details Narrative)	Nov. 16, 2022 USD ($)
Convertible Note Purchase Agreement [Member] \| Transomic Technologies, Inc. [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Convertible notes and warrants	$ 375,000

INVESTMENTS IN DEBT SECURITIES AVAILABLE FOR SALE (Details Narrative) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Debt securities, available for sale, current		$ 9,857,087

SCHEDULE OF NET REALIZED LOSSES ON SALES OF AVAILABLE FOR SALE SECURITIES AND INVESTMENT INCOME INTEREST AND DIVIDENDS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Interest and dividends accrued and paid	$ 450,221	$ 725,824
Realized losses	61,983	431,801
Investment income, net	$ 512,204	$ 1,157,625

SEGMENT PERFORMANCE MEASURES AND EXPENSES

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENT PERFORMANCE MEASURES AND EXPENSES

3. SEGMENT PERFORMANCE MEASURES AND EXPENSES

The Company operates in one segment for the research and development of our product candidates. The Company’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company based on consolidated financial information. Consequently, we view the entire organization as one reportable segment and the strategic purpose of all operating activities (including general & administrative expenses) is to support that one segment. As a pre-revenue research and development company, the CODM evaluates company-wide performance and allocates resources based on non-financial research and development milestones achieved, and to a lesser extent, financial measures of performance such as clinical development (research and development expenses) and general and administrative expenses incurred. Our CODM does not generally evaluate our performance using asset or historical cash flow information.

The table below provides a summary of the significant expense categories and consolidated net loss details provided to the CODM (in thousands):


	For the year ended December 31,
	(In thousands)						Change Increase (Decrease)
	2024			2023
Operating Expenses:
Clinical Research
OVATION	$	1,386		$	1,197		$	189		15.8	%
Vaccine		1,420			-			1,420		100.0	%
Other clinical and regulatory		2,434			1,793			641		35.8	%
Subtotal		5,240			2,990			2,250		75.3	%
Non-Clinical R&D and CMC
OVATION		1,819			1,504			315		20.9	%
PlaCCine Vaccine		2,554			4,511			(1,957	)	(43.4	)%
Manufacturing (CMC)		2,026			2,283			(257	)	(11.3	)%
Subtotal		6,399			8,298			(1,899	)	(22.9	)%
Research and development expenses		11,639			11,288			351		3.1	%
General and administrative expenses		7,493			9,742			(2,249	)	(23.1	)%
Total operating expenses		19,132			21,030			(1,898	)	(9.0	)%
Loss from operations	$	(19,132	)	$	(21,030	)	$	(1,898	)	(9.0	)%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	112,500,000	112,500,000
Common stock, shares issued	14,500,707	9,399,811
Common stock, shares outstanding	14,500,685	9,399,789
Treasury stock, shares	22	22

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2022	$ 74,362	$ 397,980,023	$ (85,188)	$ 26,494	$ (368,667,825)	$ 29,327,866
Balance, shares at Dec. 31, 2022	7,436,219		22
Net loss					(19,514,977)	(19,514,977)
Sale of equity through equity financing facilities	$ 19,041	2,762,397				2,781,438
Sale of equity through equity financing facilities, shares	1,904,142
Issuance of stock upon vesting of restricted shares	$ 595					595
Issuance of stock upon vesting of restricted shares, shares	59,450
Realized and unrealized gains, net, on investment securities				34,302		34,302
Stock-based compensation expense		758,418				758,418
Balance at Dec. 31, 2023	$ 93,998	401,500,838	$ (85,188)	60,796	(388,182,802)	13,387,642
Balance, shares at Dec. 31, 2023	9,399,811		22
Net loss					(18,620,242)	(18,620,242)
Sale of equity through equity financing facilities	$ 50,888	9,009,550				9,060,438
Sale of equity through equity financing facilities, shares	5,088,796
Issuance of stock upon vesting of restricted shares	$ 121					121
Issuance of stock upon vesting of restricted shares, shares	12,100
Realized and unrealized gains, net, on investment securities				(60,796)		(60,796)
Stock-based compensation expense		477,135				477,135
Balance at Dec. 31, 2024	$ 145,007	$ 410,987,523	$ (85,188)		$ (406,803,044)	$ 4,244,298
Balance, shares at Dec. 31, 2024	14,500,707		22

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Values Of Financial Instruments

SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS

Assets and liabilities measured at fair value are summarized below:

	Total Fair Value		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:

Recurring items as of December 31, 2024
U.S. treasury obligations, available for sale	$	-	$	-	$	-	$	-

Recurring items as of December 31, 2023
U.S. treasury obligations, available for sale	$	9,857,087	$	9,857,087	$	-	$	-

STOCKHOLDERS’ EQUITY

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

STOCKHOLDERS’ EQUITY

10. STOCKHOLDERS’ EQUITY

On May 15, 2024, the Company filed with the SEC a shelf registration statement on Form S-3 (the “2024 Registration Statement”) for the offer and sale of up to $75 million of its securities. The 2024 Registration Statement was declared effective on May 22, 2024. The 2024 Registration Statement is intended to provide the Company with flexibility to raise capital in the future for general corporate purposes. However, the Company’s ability to offer and sell its securities in a primary offering on the 2024 Registration Statement is limited by General Instruction I.B.6 of Form S-3 (the “Baby Shelf Limitation”), which limits the amount that the Company can offer to up to one-third of its public float during any trailing 12-month period. The Company would no longer be subject to the Baby Shelf Limitation if its public float exceeds $75 million.

At the Market Offering Agreement

On May 15, 2024, the Company amended the At the Market Offering Agreement, dated as of May 25, 2022 (the “ATM Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”) as sales agent. Pursuant to the terms of the amended ATM Agreement, the Company may offer and sell, from time to time, through Wainwright, shares of the Company’s common stock having an aggregate offering price of up to $5,500,000. The Company intends to use the net proceeds from any offering under the amended ATM Agreement for general corporate purposes, including research and development activities, capital expenditures and working capital.

On July 30, 2024, the Company notified Wainwright that it was suspending its use of and terminating the “at the market offering” sales agreement prospectus (the “ATM Prospectus”), related to the potential issuance from time to time of the Company’s common stock pursuant to the ATM Agreement, by and between the Company and Wainwright. Notwithstanding the termination of the ATM Prospectus, the ATM Agreement remains in full force and effect.

On September 3, 2024, the Company filed a new prospectus supplement to the 2024 Registration Statement with the SEC for an aggregate offering price of up to $5,500,000 related to the potential issuance from time to time of the Company’s common stock pursuant to the ATM Agreement with Wainwright as sales agent.

The Company sold 88,796 shares of common stock under the ATM Agreement for net proceeds of $99,506 during 2024. During 2023, the Company sold 1,878,488 shares of common stock under the ATM Agreement for net proceeds of $2,750,658. The Company sold 120,047 shares of common stock under the ATM Agreement for net proceeds of $105,693 from January 1, 2025 through February 21, 2025.

July 2024 Offering

On July 30, 2024, the Company entered into the July 2024 Purchase Agreement with the Purchasers, pursuant to which the Company issued, in a registered direct offering, an aggregate of 5,000,000 shares of the Company’s common stock at an offering price of $2.00 per share for gross proceeds of $10.0 million before the deduction of placement agent fees and offering expenses. In a concurrent private placement and also pursuant to the July 2024 Purchase Agreement, the Company issued to the Purchasers the Warrants to purchase an aggregate of 5,000,000 shares of its common stock at an exercise price of $2.00 per share.

The Warrants became exercisable immediately after issuance for a term of five and one-half years following the date of issuance. The closing of the July 2024 Offering occurred on August 1, 2024.

- Definition

The entire disclosure for equity.

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+ Details

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
INCOME TAXES (Details Narrative) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2021	Mar. 22, 2024	Nov. 28, 2023	Dec. 31, 2018
Effective Income Tax Rate Reconciliation [Line Items]
Unrecognized tax benefits	$ 0	$ 0
Payment of interest and penalties	$ 0	0
Income tax examination, description	Expenses incurred in connection with R&E activities in the US must be amortized over a 5-year period if incurred, and R&E expenses incurred outside the US must be amortized over a 15-year period. R&E activities are broader in scope than qualified research activities considered under IRC Section 41 (relating to the research tax credit). For the year ended December 31, 2024, the Company performed an analysis based on available guidance and determined that it will continue to be in a loss position even after the required capitalization and amortization of its R&E expenses. The Company will continue to monitor this issue for future developments, but it does not expect R&E capitalization and amortization to require it to pay cash taxes now or in the near future. The Company’s income tax returns for 2020 to 2023 are still open and subject to audit. In addition, net operating losses arising from prior years are also subject to examination at the time they are utilized in future years.
Operating losses	$ (19,132,446)	(21,030,430)
Domestic Tax Jurisdiction [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards	$ 303,000,000
Operating loss carryforwards expiration description	expire starting in 2025 through 2037
Federal Income Tax [Member] \| No Expiration [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards						$ 101,000,000
State and Local Jurisdiction [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards	$ 40,000,000
Operating loss carryforwards expiration description	expire starting in 2029 through 2043
NEW JERSEY
Effective Income Tax Rate Reconciliation [Line Items]
Deferred income tax asset		1,300,000
Proceeds from sale	$ 1,300,000
NEW JERSEY \| Minimum [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards			$ 15,000,000
NEW JERSEY \| Maximum [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards			20,000,000
Operating losses			300,000
NEW JERSEY \| New Jersey Division of Taxation [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Operating loss carryforwards		$ 1,300,000		$ 1,300,000	$ 1,300,000
NEW JERSEY \| State and Local Jurisdiction [Member] \| Minimum [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Proceeds from sale			15,000,000
NEW JERSEY \| State and Local Jurisdiction [Member] \| Maximum [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Proceeds from sale			$ 20,000,000

INVESTMENTS IN DEBT SECURITIES AVAILABLE FOR SALE (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

SCHEDULE OF COST, FAIR VALUE AND MATURITIES OF SHORT TERM INVESTMENTS

A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows:

	December 31, 2024				December 31, 2023
	Cost		Fair Value		Cost		Fair Value
Short-term investments
U.S. Treasury securities	$	-	$	-	$	9,796,291	$	9,857,087

	December 31, 2024				December 31, 2023
	Cost		Fair Value		Cost		Fair Value
Short-term investment maturities
Within 3 months	$	-	$	-	$	2,467,518	$	2,490,775
Between 3-12 months		-		-		7,328,773		7,366,312
Total	$	-	$	-	$	9,796,291	$	9,857,087

SCHEDULE OF INVESTMENT SECURITIES GROSS UNREALIZED GAINS (LOSSES)

The following table shows the Company’s investment in debt securities available for sale gross unrealized gains (losses) and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2024 and 2023. The Company has reviewed individual securities to determine whether a decline in fair value below the amortizable cost basis is other than temporary.

	December 31, 2024				December 31, 2023
Available for sale securities (all unrealized holding gains and losses are less than 12 months at date of measurement)	Fair Value		Unrealized Holding Gains (Losses)		Fair Value		Unrealized Holding Gains (Losses)

Investments in debt securities with unrealized gains	$	-	$	-	$	9,857,087	$	60,796

SCHEDULE OF NET REALIZED LOSSES ON SALES OF AVAILABLE FOR SALE SECURITIES AND INVESTMENT INCOME INTEREST AND DIVIDENDS

Investment income, net, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows:

	2024		2023
Interest and dividends accrued and paid	$	450,221	$	725,824
Realized losses		61,983		431,801
Investment income, net	$	512,204	$	1,157,625

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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+ Details

SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in debt securities - available for sale, at fair value		$ 9,857,087
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in debt securities - available for sale, at fair value		9,857,087
Fair Value, Recurring [Member] \| US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in debt securities - available for sale, at fair value		9,857,087
Fair Value, Recurring [Member] \| US Treasury Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in debt securities - available for sale, at fair value		9,857,087
Fair Value, Recurring [Member] \| US Treasury Securities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in debt securities - available for sale, at fair value
Fair Value, Recurring [Member] \| US Treasury Securities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in debt securities - available for sale, at fair value

SCHEDULE OF ASSUMPTIONS USED TO DETERMINE FAIR VALUE OF OPTIONS GRANTED (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate, minimum	3.72%	3.39%
Risk-free interest rate, maximum	4.50%	4.81%
Expected volatility, minimum	101.70%	100.00%
Expected volatility, maximum	115.80%	113.60%
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life (in years)	7 years 6 months	7 years 6 months
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life (in years)	10 years	10 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
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+ Details

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%
State taxes, net of federal tax benefit	8.40%	7.10%
Permanent differences	(2.74%)	(3.10%)
True-Up	(0.07%)	(105.00%)
Other	0.11%	(2.90%)
Rate Change	0.57%
Deferred vs statutory rate	(0.75%)
Expiration of NOLs	(17.51%)
Change in valuation allowance and deferred rate change, net	(9.01%)	89.00%
Effective tax rate		6.10%

SUMMARY OF NON-VESTED RESTRICTED STOCK AWARDS (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Number Outstanding, Non-vested stock awards, Outstanding, Beginning balance	32,100	69,650
Weighted Average Grant Date Fair Value, Non-vested stock awards, Outstanding, Beginning balance	$ 1.23	$ 1.92
Number Outstanding, Non-vested stock awards, Granted	39,700	22,100
Weighted Average Grant Date Fair Value, Non-vested stock awards, Granted	$ 0.99	$ 0.92
Number Outstanding, Non-vested stock awards, Vested and issued	(12,100)	(59,450)
Weighted Average Grant Date Fair Value, Non-vested stock awards, Vested and issued	$ 1.84	$ 1.91
Number Outstanding, Non-vested stock awards, Forfeited	(20,000)	(200)
Weighted Average Grant Date Fair Value, Non-vested stock awards, Forfeited	$ 0.88	$ 4.60
Number Outstanding, Non-vested stock awards, Outstanding, Ending balance	39,700	32,100
Weighted Average Grant Date Fair Value, Non-vested stock awards, Outstanding, Ending balance	$ 0.99	$ 1.23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

Imunon, Inc. (“Imunon” or the “Company”) is a clinical-stage biotechnology company focused on advancing a portfolio of innovative treatments that harness the body’s natural mechanisms with the aim to generate safe, effective and durable responses across a broad array of human diseases, constituting a differentiating approach from conventional therapies. Imunon is developing its non-viral DNA technology across its modalities. The first modality, TheraPlas®, is developed for the coding of proteins and cytokines in the treatment of solid tumors where an immunological approach is deemed promising. The second modality, PlaCCine®, is developed for the coding of viral antigens that can elicit a strong immunological response. This technology may represent a promising platform for the development of vaccines in infectious diseases.

The Company’s lead clinical program, IMNN-001, is a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer that has completed Phase II clinical studies. IMNN-001 works by instructing the body to produce safe and durable levels of powerful cancer-fighting molecules, such as interleukin-12 and interferon gamma, at the tumor site. Additionally, the Company has entered a first-in-human study of its COVID-19 booster vaccine (IMNN-101). The Company will continue to leverage these modalities and to advance the technological frontier of plasmid DNA to better serve patients with difficult-to-treat conditions.

Basis of Presentation

The accompanying consolidated financial statements (“Financial Statements”) of Imunon have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and CLSN Laboratories, Inc. The Company dissolved Celsion GmbH in 2023. All significant intercompany balances and transactions have been eliminated in consolidation.

Accounting Standards Update: Improvements to Reportable Segment Disclosures

In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The disclosure requirements are required on an annual and interim basis and are applicable to entities with a single reportable segment. The amendments in the ASU require disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods for fiscal years beginning after December 31, 2024, with early adoption allowed. We adopted this guidance as of January 1, 2024 on a retrospective basis and the adoption did not have a material impact on our consolidated financial statements. Refer to Note 3, “Segment Performance Measures and Expenses,” for new disclosures resulting from the adoption of ASU 2023-07.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Financial Statements and the reported amounts of expenses during the reporting period. Actual results could differ significantly from those estimates.

Revenue Recognition

The Company did not generate any revenue in 2024 or 2023 and there were no accounts receivable as of December 31, 2024 and 2023.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and investments purchased with an original maturity of three months or less. A portion of these funds are not covered by FDIC insurance.

Fair Value of Financial Instruments

The carrying values of financial instruments approximate their respective fair values. Management believes that the carrying amounts of the Company’s financial instruments, including cash and cash equivalents and accounts payable approximate fair value due to the short-term nature of those instruments. Short-term investments are recorded at their estimated fair value.

Short-Term Investments

The Company classifies its investments in debt securities with readily determinable fair values as investments available-for-sale in accordance with Accounting Standards Codification (“ASC”) 320, Investments - Debt and Equity Securities. Available-for-sale securities consist of debt securities not classified as trading securities or as securities to be held to maturity. The Company has classified all of its investments as available-for-sale. Unrealized holding gains and losses on available-for-sale securities are reported as a net amount in accumulated other comprehensive gain or loss in stockholders’ equity until realized. Gains and losses on the sale of available-for-sale securities are determined using the specific identification method. The Company’s short-term investments consist of corporate bonds.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is provided over the estimated useful lives of the related assets, ranging from three to seven years, using the straight-line method. Amortization is recognized over the lesser of the life of the asset or the lease term. Major renewals and improvements are capitalized at cost and ordinary repairs and maintenance are charged against operating expenses as incurred. Depreciation expense was approximately $240,000 and $248,000 for the years ended December 31, 2024 and 2023, respectively.

The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the future net undiscounted cash flows that the asset is expected to generate. If such asset is considered to be impaired, the impairment recognized is the amount by which the carrying amount of the asset, if any, exceeds its fair value determined using a discounted cash flow model. There was no impairment of property or equipment during 2024 or 2023.

Advances and Deposits on Clinical Programs and Other Current Assets

Supplies are consumable items kept on hand to support the Company’s R&D and manufacturing operations which includes prepaid expense, raw materials, clinical supplies and consumable items for clinical trials with alternate uses that are capitalized. Supplies are recorded at cost and are charged to expense as they are used in operations. The Company regularly reviews the quality and utilization of supplies to determine if future use of these supplies is probable. Due to the generic use of these supplies, they can be used in multiple projects other than those currently being studied.

Deposits

Deposits include real property security deposits and other deposits which are contractually required and of a long-term nature.

Comprehensive Income (Loss)

ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive income (loss) and its components in the Company’s consolidated financial statements. The objective of ASC 220 is to report a measure of comprehensive income (loss) of all changes in equity of an enterprise that result from transactions and other economic events in a period other than transactions with owners. Comprehensive gains (losses) result from changes in unrealized gains and losses from investment in debt securities.

Research and Development

Research and development costs are expensed as incurred. Supplies are consumable and recorded at cost and are charged to expense as they are used in operations. Equipment and facilities acquired for research and development activities that have alternative future uses are capitalized and charged to expense over their estimated useful lives.

Net Loss per Share of Common Stock

Basic and diluted net loss per common share was computed by dividing net loss for the year by the weighted average number of shares of common stock outstanding, both basic and diluted, during each period. The impact of common stock equivalents has been excluded from the computation of diluted weighted average common shares outstanding in periods where there is a net loss, as their effect is anti-dilutive.

For the years ended December 31, 2024 and 2023, the total number of shares of common stock issuable upon exercise of warrants and equity awards was 6,840,633 and 1,255,642, respectively. For the years ended December 31, 2024 and 2023, diluted loss per common share is the same as basic loss per common share as all options and all other warrants that were convertible into shares of the Company’s common stock were excluded from the calculation of diluted earnings attributable to common stockholders per common share as their effect would be anti-dilutive.

Income Taxes

Income taxes are accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in results of operations in the period that the tax rate change occurs. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In accordance with ASC 740, Income Taxes, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position taken would be sustained in a tax examination, presuming that a tax examination will occur. The Company recognizes interest and/or penalties related to income tax matters in the income tax expense category.

As more fully discussed in Note 10, on November 28, 2023, the Company received approval from the New Jersey Economic Development Authority to sell $1.3 million of its New Jersey net operating losses (“NOLs”), recognizing a tax benefit for the year ended December 31, 2023 for the net proceeds (approximately $1.3 million) by reducing the net operating loss valuation allowance. As more fully discussed in Note 10, on November 28, 2023, the Company was notified by the New Jersey Economic Development Authority that its application was approved and the Company entered into an agreement to sell this NOL. On March 22, 2024, the Company received approximately $1.3 million upon completion of the sale of the 2023 NOLs. During 2021, the New Jersey State Legislature increased the maximum lifetime benefit per company from $15 million to $20 million, which will allow the Company to participate in this innovative funding program in future years for up to an additional $0.4 million in net operating losses under this maximum lifetime benefit (see Note 2).

Stock-Based Compensation

The Company accounts for all share-based payment awards granted to employees and non-employees as stock-based compensation expense at grant date fair value. The Company’s share-based payments include stock options and grants of common stock, including common stock subject to vesting. The measurement date for employee awards is the date of grant, and stock-based compensation costs are recognized as expense over the employees’ requisite service period, which is the vesting period, on a straight-line basis. Prior to the adoption of Accounting Standards Update (“ASU”) No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU No. 2018-07”) on January 1, 2020, the measurement date for non-employee awards was generally the date the services were completed, resulting in financial reporting period adjustments to stock-based compensation during the vesting terms for changes in the fair value of the awards. Since the adoption of ASU 2018-07, the measurement date for non-employee awards is the date of grant without changes in the fair value of the award. There was no material impact as a result of adopting this new standard. Stock-based compensation costs for non-employees are recognized as expense over the vesting period on a straight-line basis. Stock-based compensation expense is classified in the accompanying consolidated statements of operations based on the function to which the related services are provided. Forfeitures are recorded as they occur.

The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. Since there is limited historical data of the Company’s share price on the public market, the Company estimates its expected stock volatility based on the historical volatility of a publicly traded set of representative companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded stock price. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future.

Warrant Accounting

We account for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrants’ specific terms and applicable authoritative guidance in ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), and ASC 815 “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to our own ordinary shares and whether warrant holders could potentially require “net cash settlement” in a circumstance outside of our control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end-date while the warrants are outstanding.

For issued or modified warrants that meet all the criteria for equity classification, the warrants are required to be recorded as a component of equity at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of warrants classified as liabilities are recognized as a non-cash gain or loss on our statements of operations.

As the warrants issued upon our financings in 2024 meet the criteria for equity classification under ASC 815, those warrants were classified as equity as of December 31, 2024. No warrants were issued in 2023.

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the FASB and are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued accounting pronouncements will not have a material impact on the Company’s consolidated financial position, results of operations, and cash flows, or do not apply to its operations.

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and allows for adoption on a prospective basis, with a retrospective option. Early adoption is permitted. The Company is currently evaluating the impact of the ASU on the income tax disclosures within the consolidated financial statements.

In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses (“ASU 2024-03”). ASU 2024-03 will require more detailed information about the types of expenses in commonly presented income statement captions such as “Cost of sales” and “Selling, general and administrative expenses”. The new guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027 with early adoption permitted. The Company is currently evaluating the impact that this change will have on the Company’s disclosures.

STOCK-BASED COMPENSATION (Details Narrative) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Jun. 14, 2023	Jun. 10, 2021	Jun. 15, 2020	May 14, 2019	May 15, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock-based compensation arrangements	$ 0.5
Cost recognized over a weighted-average period	1 year 4 months 24 days
Equity Stock Awards [Member] \| Granted Under 2018 Plan and 2007 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, reserved for future issuance	1,555,073
Inducement Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, reserved for future issuance	130,500
Stock Options and Restricted Stock Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation	$ 0.5	$ 0.8
Stock Options and Restricted Stock Awards [Member] \| Research and Development Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation	0.3	0.2
Stock Options and Restricted Stock Awards [Member] \| General and Administrative Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation	$ 0.2	$ 0.6
2018 Stock Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment award, shares authorized							180,000
Shares available for issuance	420,000
Stock options, strike price description	Options are generally granted with strike prices equal to the fair market value of a share of Imunon common stock on the date of grant. Incentive stock options may be granted to purchase shares of common stock at a price not less than 100% of the fair market value of the underlying shares on the date of grant, provided that the exercise price of any incentive stock option granted to an eligible employee owning more than 10% of the outstanding stock of Imunon must be at least 110% of such fair market value on the date of grant. Only officers and key employees may receive incentive stock options.
Common stock, reserved for future issuance	1,975,073
2018 Stock Incentive Plan [Member] \| Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares available for issuance			1,030,000	513,333	166,667	80,000
2018 Stock Incentive Plan [Member] \| Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares available for issuance			1,970,000	940,000	426,667	260,000
Inducement Option Grants [Member] \| Board of Directors Chairman [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price per share	$ 1.02
Inducement Option Grants [Member] \| Board of Directors Chairman [Member] \| Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares, Issued	110,000

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

11. STOCK-BASED COMPENSATION

The Company has long-term compensation plans that permit the granting of equity-based awards in the form of stock options, restricted stock, restricted stock units, stock appreciation rights, other stock awards, and performance awards.

At the 2018 Annual Stockholders Meeting of the Company held on May 15, 2018, stockholders approved the Imunon, Inc. 2018 Stock Incentive Plan (the “2018 Plan”). The 2018 Plan, as adopted, permits the granting of 180,000 shares of Imunon common stock as equity awards in the form of incentive stock options, nonqualified stock options, restricted stock, restricted stock units, stock appreciation rights, other stock awards, performance awards, or in any combination of the foregoing. At the 2019 Annual Stockholders Meeting of the Company held on May 14, 2019, stockholders approved an amendment to the 2018 Plan whereby the Company increased the number of common stock shares available by 80,000 to a total of 260,000 under the 2018 Plan, as amended. At the 2020 Annual Stockholders Meeting of the Company held on June 15, 2020, stockholders approved an amendment to the 2018 Plan, as previously amended, whereby the Company increased the number of shares of common stock available by 166,667 to a total of 426,667 under the 2018 Plan, as amended. At the 2021 Annual Stockholders Meeting of the Company held on June 10, 2021, stockholders approved an amendment to the 2018 Plan, as previously amended, whereby the Company increased the number of shares of common stock available by 513,333 to a total of 940,000 under the 2018 Plan, as amended. At the 2023 Annual Stockholders Meeting of the Company held on June 14, 2023, stockholders approved an amendment to the 2018 Plan, as previously amended, whereby the Company increased the number of shares of common stock available by 1,030,000 to a total of 1,970,000 under the 2018 Plan, as amended.

The Company has issued stock awards to employees and directors in the form of stock options and restricted stock. Options are generally granted with strike prices equal to the fair market value of a share of Imunon common stock on the date of grant. Incentive stock options may be granted to purchase shares of common stock at a price not less than 100% of the fair market value of the underlying shares on the date of grant, provided that the exercise price of any incentive stock option granted to an eligible employee owning more than 10% of the outstanding stock of Imunon must be at least 110% of such fair market value on the date of grant. Only officers and key employees may receive incentive stock options.

Option and restricted stock awards vest upon terms determined by the Compensation Committee of the Board of Directors and are subject to accelerated vesting in the event of a change of control or certain terminations of employment. The Company issues new shares to satisfy its obligations from the exercise of options or the grant of restricted stock awards.

As of December 31, 2024, the Compensation Committee of the Board of Directors approved the grant of inducement stock options (the “Inducement Option Grants”) to purchase a total of 110,000 shares of Imunon common stock. Each award has a grant date of the date of grant. Each Inducement Option Grant has a weighted exercise price of $1.02 per share. Each Inducement Option Grant vests over four years, with one-fourth vesting on the one-year anniversary of the employee’s first day of employment with the Company and one-fourth vesting on the second, third and fourth anniversaries thereafter, subject to the new employee’s continued service relationship with the Company on each such date. Each Inducement Option Grant has a ten-year term and is subject to the terms and conditions of the applicable stock option agreement.

As of December 31, 2024, there were a total of 1,975,073 shares of Imunon common stock reserved for issuance under the 2018 Plan, which were comprised of 1,555,073 shares of Imunon common stock subject to equity awards previously granted under the 2018 Plan and 2007 Plan and 420,000 shares of Imunon common stock available for future issuance under the 2018 Plan. As of December 31, 2024, there are a total of 130,500 shares of Imunon common stock subject to outstanding inducement awards.

Total compensation cost related to stock options and restricted stock awards was approximately $0.5 million and $0.8 million during 2024 and 2023, respectively. Of these amounts, $0.3 million and $0.2 million were charged to research and development expenses during 2024 and 2023, respectively, and $0.2 million and $0.6 million were charged to general and administrative expenses during 2024 and 2023, respectively.

A summary of stock option awards as of December 31, 2024 and changes during the two-year period ended December 31, 2024 is presented below:

SUMMARY OF STOCK OPTIONS

Stock Options	Number Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at January 1, 2023		760,220		$	4.55
Options granted		432,500		$	1.23
Options canceled or expired		(129,238	)	$	9.37
Outstanding at December 31, 2023		1,063,482		$	2.61
Options granted		1,051,835		$	1.12
Options canceled or expired		(469,444	)	$	1.58
Outstanding at December 31, 2024		1,645,873		$	1.95		8.8	$	13,476

Exercisable at December 31, 2024		907,723		$	2.58		8.3	$	7,299

A summary of the status of the Company’s non-vested restricted stock awards as of December 31, 2024 and changes during the two-year period ended December 31, 2024, is presented below:

Restricted Stock	Number Outstanding			Weighted Average Grant Date Fair Value
Non-vested stock awards outstanding at January 1, 2023		69,650		$	1.92
Granted		22,100		$	0.92
Vested and issued		(59,450	)	$	1.91
Forfeited		(200	)	$	4.60
Non-vested stock awards outstanding at December 31, 2023		32,100		$	1.23
Granted		39,700		$	0.99
Vested and issued		(12,100	)	$	1.84
Forfeited		(20,000	)	$	0.88
Non-vested stock awards outstanding at December 31, 2024		39,700		$	0.99

A summary of stock options outstanding at December 31, 2024 by price range is as follows:

SUMMARY OF STOCK OPTIONS OUTSTANDING

			Options Outstanding				Options Exercisable
Range of Exercise Prices	Number		Weighted Average Remaining Contractual Term (in years)		Weighted Average Exercise Price		Number		Weighted Average Remaining Contractual Term (in years)		Weighted Average Exercise Price

Up to $1.50		1,250,252		9.3	$	1.15		513,433		9.1	$	1.13
$1.51 to $4.50		207,345		7.5	$	1.93		206,289		7.5	$	1.93
Above $4.51		188,276		6.9	$	7.28		188,001		6.9	$	7.27
		1,645,873						907,723

The fair values of stock options granted were estimated at the date of grant using the Black-Scholes option pricing model. The Black-Scholes model was originally developed for use in estimating the fair value of traded options, which have different characteristics from Imunon’s stock options. The model is also sensitive to changes in assumptions, which can materially affect the fair value estimate. The Company used the following assumptions for determining the fair value of options granted under the Black-Scholes option pricing model:

	Year Ended December 31,
	2024			2023
Risk-free interest rate		3.72% to 4.50	%		3.39 % to 4.81	%
Expected volatility		101.7% to 115.8	%		100.0% to 113.6	%
Expected life (in years)		7.5 to 10			7.5 to 10
Expected dividend yield		0.0	%		0.0	%

Expected volatilities utilized in the model are based on historical volatility of the Company’s stock price. As of December 31, 2024, there was $0.5 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements. That cost is expected to be recognized over a weighted-average period of 1.4 years.

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net loss	$ (18,620,242)	$ (19,514,977)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	240,175	248,154
Amortization of right-of-use assets	477,941	471,851
Realized and unrealized (gains) and losses, net, on investment securities	(61,983)	34,302
Stock-based compensation	477,256	759,013
Realization of deferred income tax asset	1,280,385	286,641
Loss on extinguishment of debt		329,158
Write-off of note receivable (Transomic)		375,000
Amortization of deferred finance charges and debt discount associated with note payable		55,122
Net changes in:
Accrued interest receivable on investment securities		68,136
Advances, deposits, and other current assets	408,859	(141,619)
Accounts payable and accrued liabilities	(3,057,361)	(1,992,929)
Net cash used in operating activities	(18,854,970)	(19,022,148)
Cash flows from investing activities:
Purchases of investment securities	(57,174)	(13,541,806)
Proceeds from sale and maturity of investment securities	9,915,448	25,000,000
Purchases of property and equipment	(29,541)	(451,759)
Net cash provided by investing activities	9,828,733	11,006,435
Cash flows from financing activities:
Proceeds from sale of common stock equity, net of issuance costs	9,060,438	2,781,438
Payoff of the SVB loan and accrued end-of-term fees		(6,420,000)
Net cash (used in) provided by financing activities	9,060,438	(3,638,562)
Net change in cash, cash equivalents and restricted cash	34,201	(11,654,275)
Cash, cash equivalents and restricted cash at beginning of year	5,838,566	17,492,841
Cash and cash equivalents end of year	5,872,767	5,838,566
Supplemental disclosure of cash flow information:
Interest		179,542
Non-Cash Investing and Financing Activities
Recognition of right of use asset and liability		$ 1,911,049

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

15. COMMITMENTS AND CONTINGENCIES

We are not currently a party to any material legal proceedings.

Consolidated Statements of Comprehensive Loss - USD ($)	12 Months Ended
Consolidated Statements of Comprehensive Loss - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Changes in:
Realized and unrealized gains on available for sale securities, net		$ 34,302
Net loss	(18,620,242)	(19,514,977)
Total comprehensive loss	$ (18,620,242)	$ (19,480,675)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

OTHER ACCRUED LIABILITIES

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

OTHER ACCRUED LIABILITIES

7. OTHER ACCRUED LIABILITIES

Other accrued liabilities at December 31, 2024 and 2023 include the following:

SCHEDULE OF OTHER ACCRUED LIABILITIES


	December 31,
	2024		2023
Amounts due to contract research organizations and other contractual agreements	$	1,048,036	$	1,442,659
Accrued payroll and related benefits		1,945,111		1,693,383
Accrued professional fees		20,600		234,479
Other		20,000		20,000
Total	$	3,033,747	$	3,390,521

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)				2 Months Ended	12 Months Ended
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	Sep. 03, 2024	Jul. 30, 2024	May 15, 2024	Feb. 21, 2025	Dec. 31, 2024	Dec. 31, 2023
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, value, new issues			$ 75,000,000		$ 9,060,438	$ 2,781,438
Proceeds from issuance of common stock	$ 5,500,000				$ 9,060,438	$ 2,781,438
At the Market Offering Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, value, new issues			$ 5,500,000
Number of shares sold					88,796	1,878,488
Proceeds from sale of stock					$ 99,506	$ 2,750,658
At the Market Offering Agreement [Member] \| Subsequent Event [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares sold				120,047
Proceeds from sale of stock				$ 105,693
Securities Purchase Agreement [Member] \| July 2024 Offering [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of common stock		$ 10,000,000.0
Stock issued, shares		5,000,000
Share price		$ 2.00
Securities Purchase Agreement [Member] \| July 2024 Offering [Member] \| Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued, shares		5,000,000
Share price		$ 2.00

SUMMARY OF WARRANT ACTIVITY (Details) - USD ($)	12 Months Ended
SUMMARY OF WARRANT ACTIVITY (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Warrants
Number of Warrants Issued, Warrants outstanding, Beginning balance	160,060	168,519
Weighted Average Exercise Price, Warrants outstanding, Beginning balance	$ 18.86	$ 19.78
Number of Warrants Issued, Warrants issued	5,000,000
Weighted Average Exercise Price, Warrants issued	$ 2.00
Number of Warrants Issued, Warrants expired	(5,000)	(8,459)
Weighted Average Exercise Price, Warrants expired	$ 11.85	$ 37.29
Number of Warrants Issued, Warrants outstanding, Ending balance	5,155,060	160,060
Weighted Average Exercise Price, Warrants outstanding, Ending balance	$ 2.51	$ 18.86
Aggregate intrinsic value of outstanding warrants
Weighted average remaining contractual terms (years)	5 years

SCHEDULE OF COST, FAIR VALUE AND MATURITIES OF SHORT TERM INVESTMENTS (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Short-term investments - Fair Value		$ 9,857,087
Short-term investment maturities - Within 3 months, cost		2,467,518
Short-term investment maturities - Within 3 months, fair value		2,490,775
Short-term investment maturities - Between 3-12 months, cost		7,328,773
Short-term investment maturities - Between 3-12 months, fair value		7,366,312
Short-term investment maturities - Cost		9,796,291
Short-term investment maturities - Fair value		9,857,087
US Treasury Securities [Member]
Marketable Securities [Line Items]
Short-term investments - Cost		9,796,291
Short-term investments - Fair Value		$ 9,857,087

SCHEDULE OF LEASE PAYMENTS AND MATURITY OF OPERATING LEASE LIABILITIES (Details)	Dec. 31, 2024 USD ($)
Leases
2025	$ 543,009
2026	362,976
2027	370,235
2028 and thereafter	30,904
Subtotal future lease payments	1,307,124
Less imputed interest	(167,831)
Total lease liabilities	$ 1,139,293
Operating lease, weighted average remaining lease term	2 years 8 months 12 days
Operating lease, weighted average discount rate, percent	9.98%

SCHEDULE OF INVESTMENT SECURITIES GROSS UNREALIZED GAINS (LOSSES) (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments in debt securities with unrealized gains - Fair Value		$ 9,857,087
Investments in debt securities with unrealized gains - Unrealized Holding Gains (Losses)		$ 60,796

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2024	Feb. 21, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-15911
Entity Registrant Name	IMUNON, INC.
Entity Central Index Key	0000749647
Entity Tax Identification Number	52-1256615
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	997 LENOX DRIVE
Entity Address, Address Line Two	SUITE 100
Entity Address, City or Town	LAWRENCEVILLE
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08648
City Area Code	(609)
Local Phone Number	896-9100
Title of 12(b) Security	Common Stock, Par Value $0.01 Per Share
Trading Symbol	IMNN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 10.8
Entity Common Stock, Shares Outstanding		14,620,732
Documents Incorporated by Reference [Text Block]	None
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Opinion [Text Block]	We have audited the accompanying consolidated balance sheets of Imunon Inc. as of December 31, 2024 and 2023, and the related consolidated statements of operations, comprehensive loss, changes in stockholders’ equity, and cash flows for each of the two years in the period ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Imunon Inc. as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.
Auditor Name	WithumSmith+Brown, PC
Auditor Location	East Brunswick, New Jersey
Auditor Firm ID	100

LEASES

12 Months Ended

Dec. 31, 2024

Leases

LEASES

14. LEASES

Lawrenceville, New Jersey Lease

In August 2023, the Company renewed its Lawrenceville office lease for a 24-month agreement for 9,850 square feet with monthly rent payments of approximately $22,983 to $23,394.

Huntsville, Alabama Lease

In January 2023, the Company renewed its Huntsville facility lease for a 60-month lease agreement for 11,420 square feet with monthly rent payments of approximately $28,550 to $30,903.

The following is a table of the lease payments and maturity of the Company’s operating lease liabilities as of December 31, 2024:

	For the year ending December 31,
2025	$	543,009
2026		362,976
2027		370,235
2028 and thereafter		30,904
Subtotal future lease payments		1,307,124
Less imputed interest		(167,831	)
Total lease liabilities	$	1,139,293

Weighted average remaining life		2.7 years

Weighted average discount rate		9.98	%

The discount rate used was the Company’s incremental borrowing rate, which is 9.98%, as the Company could not determine the rate implicit in the lease.

For 2024, operating lease expense was $652,166 and cash paid for operating leases included in operating cash flows was $659,646. For 2023, operating lease expense was $646,633 and cash paid for operating leases included in operating cash flows was $644,593. Amortization expense was approximately $478,000 and $472,000 for the years ended December 31, 2024 and 2023, respectively.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2021	Mar. 22, 2024	Nov. 28, 2023
Property, Plant and Equipment [Line Items]
Accounts receivable	$ 0	$ 0
Depreciation expense	240,000	248,000
Impairment of property or equipment	$ 0	$ 0
Number of shares of common stock issuable upon exercise of warrants and equity awards	6,840,633	1,255,642
NEW JERSEY \| New Jersey Division of Taxation [Member]
Property, Plant and Equipment [Line Items]
Net proceeds from sale of net operating losses		$ 1,300,000		$ 1,300,000	$ 1,300,000
Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	3 years
Minimum [Member] \| NEW JERSEY
Property, Plant and Equipment [Line Items]
Net proceeds from sale of net operating losses			$ 15,000,000
Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	7 years
Maximum [Member] \| NEW JERSEY
Property, Plant and Equipment [Line Items]
Net proceeds from sale of net operating losses			20,000,000
Direct financing lease, selling loss			$ 400,000

SUMMARY OF STOCK OPTIONS (Details) - USD ($)	12 Months Ended
SUMMARY OF STOCK OPTIONS (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number Outstanding, Outstanding, Ending balance	1,645,873
Number Outstanding, Exercisable, Ending balance	907,723
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number Outstanding, Outstanding, Beginning balance	1,063,482	760,220
Weighted Average Exercise Price, Outstanding, Beginning balance	$ 2.61	$ 4.55
Number Outstanding, Options granted	1,051,835	432,500
Weighted Average Exercise Price, Options granted	$ 1.12	$ 1.23
Number Outstanding, Options canceled or expired	(469,444)	(129,238)
Weighted Average Exercise Price, Options canceled or expired	$ 1.58	$ 9.37
Number Outstanding, Outstanding, Ending balance	1,645,873	1,063,482
Weighted Average Exercise Price, Outstanding, Ending balance	$ 1.95	$ 2.61
Weighted Average Remaining Contractual Term (years), Outstanding, Ending balance	8 years 9 months 18 days
Aggregate Intrinsic Value, Outstanding, Ending balance	$ 13,476
Number Outstanding, Exercisable, Ending balance	907,723
Weighted Average Exercise Price, Exercisable, Ending balance	$ 2.58
Weighted Average Remaining Contractual Term (years), Exercisable, Ending balance	8 years 3 months 18 days
Aggregate Intrinsic Value, Exercisable, Ending balance	$ 7,299

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) (Parenthetical)	Dec. 31, 2024
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Leasehold Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Leasehold Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years

SEGMENT PERFORMANCE MEASURES AND EXPENSES (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SCHEDULE OF SIGNIFICANT EXPENSE CATEGORIES AND CONSOLIDATED NET LOSS

The table below provides a summary of the significant expense categories and consolidated net loss details provided to the CODM (in thousands):


	For the year ended December 31,
	(In thousands)						Change Increase (Decrease)
	2024			2023
Operating Expenses:
Clinical Research
OVATION	$	1,386		$	1,197		$	189		15.8	%
Vaccine		1,420			-			1,420		100.0	%
Other clinical and regulatory		2,434			1,793			641		35.8	%
Subtotal		5,240			2,990			2,250		75.3	%
Non-Clinical R&D and CMC
OVATION		1,819			1,504			315		20.9	%
PlaCCine Vaccine		2,554			4,511			(1,957	)	(43.4	)%
Manufacturing (CMC)		2,026			2,283			(257	)	(11.3	)%
Subtotal		6,399			8,298			(1,899	)	(22.9	)%
Research and development expenses		11,639			11,288			351		3.1	%
General and administrative expenses		7,493			9,742			(2,249	)	(23.1	)%
Total operating expenses		19,132			21,030			(1,898	)	(9.0	)%
Loss from operations	$	(19,132	)	$	(21,030	)	$	(1,898	)	(9.0	)%

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

SCHEDULE OF INCOME TAX PROVISION (BENEFIT)

The income tax benefit for the years ended December 31, 2024 and 2023 consists of the following:

	2024		2023
Federal
Current	$	-	$	-
Deferred		-		-
State and Local		-		-
Current		-		-
Deferred		-		(1,280,385	)
Total	$	-	$	(1,280,385	)

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION

A reconciliation of the Company’s statutory tax rate to the effective rate for the years ended December 31, 2024 and 2023 is as follows:

	2024			2023
Federal statutory rate		21.00	%		21.0	%
State taxes, net of federal tax benefit		8.40			7.1
Permanent differences		(2.74	)		(3.1	)
True-Up		(0.07	)		(105.0	)
Other		0.11			(2.9	)
Rate Change		0.57			-
Deferred vs statutory rate		(0.75	)		-
Expiration of NOLs		(17.51	)		-
Change in valuation allowance and deferred rate change, net		(9.01	)		89.0
Effective tax rate		-	%		6.1	%

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

The components of the Company’s deferred tax asset as of December 31, 2024 and 2023 are as follows:


	December 31,
	2024			2023
Net operating loss carryforwards	$	66,141,490		$	67,310,000
Section 174		6,482,099			4,929,000
Other deferred tax assets, net		2,010,744			2,016,000
Subtotal		74,634,333			74,255,000
Valuation allowance		(74,634,333	)		(72,974,615	)
Total deferred tax asset	$	-		$	1,280,385

Pay vs Performance Disclosure - USD ($)	12 Months Ended
Pay vs Performance Disclosure - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (18,620,242)	$ (19,514,977)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

OTHER ACCRUED LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

SCHEDULE OF OTHER ACCRUED LIABILITIES

Other accrued liabilities at December 31, 2024 and 2023 include the following:

SCHEDULE OF OTHER ACCRUED LIABILITIES


	December 31,
	2024		2023
Amounts due to contract research organizations and other contractual agreements	$	1,048,036	$	1,442,659
Accrued payroll and related benefits		1,945,111		1,693,383
Accrued professional fees		20,600		234,479
Other		20,000		20,000
Total	$	3,033,747	$	3,390,521

NOTES PAYABLE

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

NOTES PAYABLE

8. NOTES PAYABLE

The SVB Loan Facility

On June 18, 2021, the Company entered into a $10 million loan facility (the “SVB Loan Facility”) with Silicon Valley Bank (“SVB”). Imunon immediately drew down $6 million from the SVB Loan Facility and used the funds to retire all outstanding indebtedness with Horizon Technology Finance Corporation pursuant to a loan agreement entered into on June 27, 2018, under which the Company had drawn down $10 million and repaid $5 million in August 2020. Concurrently with this transaction, the Company used $6.0 million of other available funds to establish a restricted cash account which served as security for the SVB Loan Facility.

The SVB Loan Facility was in the form of money market secured indebtedness bearing interest at a calculated WSJ Prime-based variable rate. A final payment equal to 3% of the total $10 million commitment amount was due upon maturity or prepayment of the SVB Loan Facility. There was no facility commitment fee, and no stock or warrants were issued to SVB. Payments under the loan agreement were interest only for the first 24 months after loan closing, followed by a 24-month amortization period of principal and interest through the scheduled maturity date.

In connection with the SVB Loan Facility, the Company incurred financing fees and expenses totaling $243,370 which was recorded and classified as debt discount and was amortized as interest expense using the effective interest method over the life of the loan. Also, in connection with the SVB Loan Facility, the Company was required to pay an end-of-term fee equal to 3.0% of the original loan amount at time of maturity. Therefore, these amounts totaling $300,000 were amortized as interest expense using the effective interest method over the life of the loan. During the year ended December 31, 2023, the Company incurred interest expense of $197,080 and amortized $329,158, as interest expense for debt discounts and end-of-term fee in connection with the SVB Loan Facility.

On April 21, 2023, the Company repaid the outstanding principal balance, an early termination fee and the end-of-term charges in full satisfaction of the SVB Loan Facility. The following is a schedule of the amounts paid to SVB on April 21, 2023:

SCHEDULE OF DEBT


Principal balance at April 21, 2023	$	6,000,000
Early termination fees		120,000
End of term charges		300,000
Total payoff amount	$	6,420,000

During the year ended December 31, 2023, the Company recorded a loss of $329,158 on the early termination of the SVB Loan Facility which represented the early termination fee and the end of the term fees, net of previously amortized interest expense totaling $334,212 on the date of its payoff.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

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+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

9. INCOME TAXES

The income tax benefit for the years ended December 31, 2024 and 2023 consists of the following:

	2024		2023
Federal
Current	$	-	$	-
Deferred		-		-
State and Local		-		-
Current		-		-
Deferred		-		(1,280,385	)
Total	$	-	$	(1,280,385	)

A reconciliation of the Company’s statutory tax rate to the effective rate for the years ended December 31, 2024 and 2023 is as follows:

	2024			2023
Federal statutory rate		21.00	%		21.0	%
State taxes, net of federal tax benefit		8.40			7.1
Permanent differences		(2.74	)		(3.1	)
True-Up		(0.07	)		(105.0	)
Other		0.11			(2.9	)
Rate Change		0.57			-
Deferred vs statutory rate		(0.75	)		-
Expiration of NOLs		(17.51	)		-
Change in valuation allowance and deferred rate change, net		(9.01	)		89.0
Effective tax rate		-	%		6.1	%

The components of the Company’s deferred tax asset as of December 31, 2024 and 2023 are as follows:


	December 31,
	2024			2023
Net operating loss carryforwards	$	66,141,490		$	67,310,000
Section 174		6,482,099			4,929,000
Other deferred tax assets, net		2,010,744			2,016,000
Subtotal		74,634,333			74,255,000
Valuation allowance		(74,634,333	)		(72,974,615	)
Total deferred tax asset	$	-		$	1,280,385

The evaluation of the realizability of such deferred tax assets in future periods is made based upon a variety of factors that affect the Company’s ability to generate future taxable income, such as intent and ability to sell assets and historical and projected operating performance. As of December 31, 2024, based on the Company’s history of earnings and its assessment of future earnings, management believes that it is more likely than not future taxable income will not be sufficient to realize the deferred tax assets. Therefore, full valuation allowance has been applied to deferred tax assets. At December 31, 2023, after its evaluation of its New Jersey NOLs as discussed more fully below, the Company reduced the valuation reserve and recognized $1.3 million as a deferred income tax asset. Such tax assets are available to be recognized and benefit future periods.

As of December 31, 2024, the Company had federal net operating loss carry forwards of approximately $303 million. If unused, will expire starting in 2025 through 2037. The federal NOLs generated for the years ended after 2017 of approximately $101 million can be carried forward indefinitely. As of December 31, 2024, the Company had state net operating loss carryforwards of approximately $40 million, net of net operating losses utilized in prior years, and, if unused, will expire starting in 2029 through 2043.

ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. As of December 31, 2024, and 2023, there were no unrecognized tax benefits. The Company recognizes accrued interest and penalties as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2024 and 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position in the next year.

Sections 382 and 383 of the Internal Revenue Code provide for a limitation on the annual use of NOL and tax credit carryforwards following certain ownership changes that could limit the Company’s ability to utilize these carryforwards. The Company has completed an analysis to determine if such ownership changes have occurred and concluded it was more likely than not that there were changes in ownership. Due to the existence of full valuation allowance, limitations under Section 382 and 383 will not impact the Company’s effective tax rate. Further analyses will be performed prior to recognizing the benefits of any losses or credits in the financial statements.

Effective for tax years beginning after December 31, 2021, taxpayers are required to capitalize any expenses incurred that are considered incidental to research and experimentation (“R&E”) activities under IRC Section 174. While taxpayers historically had the option of deducting these expenses under IRC Section 174, the December 2017 Tax Cuts and Jobs Act mandates capitalization and amortization of R&E expenses for tax years beginning after December 31, 2021. Expenses incurred in connection with R&E activities in the US must be amortized over a 5-year period if incurred, and R&E expenses incurred outside the US must be amortized over a 15-year period. R&E activities are broader in scope than qualified research activities considered under IRC Section 41 (relating to the research tax credit). For the year ended December 31, 2024, the Company performed an analysis based on available guidance and determined that it will continue to be in a loss position even after the required capitalization and amortization of its R&E expenses. The Company will continue to monitor this issue for future developments, but it does not expect R&E capitalization and amortization to require it to pay cash taxes now or in the near future. The Company’s income tax returns for 2020 to 2023 are still open and subject to audit. In addition, net operating losses arising from prior years are also subject to examination at the time they are utilized in future years.

Sale of New Jersey Net Operating Losses

Since 2018, the Company has annually submitted applications to sell a portion of the Company’s New Jersey NOLs as part of the Technology Business Tax Certificate Program sponsored by The New Jersey Economic Development Authority. Under the program, emerging biotechnology companies with unused NOLs and unused research and development credits are allowed to sell these benefits to other New Jersey-based companies. As part of the Technology Business Tax Certificate Program, the Company sold $1.3 million of its New Jersey NOLs in 2023. The sale of these net operating losses resulted in net proceeds to the Company of approximately $1.3 million in 2024. During 2021, the New Jersey State Legislature increased the maximum lifetime benefit per company from $15 million to $20 million, which will allow the Company to participate in this funding program in future years for up to an additional $0.3 million in net operating losses under this maximum lifetime benefit.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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+ Details

WARRANTS

12 Months Ended

Dec. 31, 2024

Warrants

WARRANTS

12. WARRANTS

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480, Distinguishing Liabilities from Equity (“ASC 480”), and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock, among other conditions for equity classification.

This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. The Company has analyzed the Warrants issued in the July 2024 Offering and determined they are considered to be freestanding instruments and do not exhibit any of the characteristics in ASC 480 and therefore are not classified as liabilities under ASC 480. The Warrants meet all of the requirements for equity classification under ASC 815 and therefore are classified as equity.

Following is a summary of all warrant activity for the two years ended December 31, 2024:

SUMMARY OF WARRANT ACTIVITY

Warrants	Number of Warrants Issued			Weighted Average Exercise Price
Warrants outstanding at January 1, 2023		168,519		$	19.78
Warrants issued during 2024		5,000,000			2.00
Warrants expired during 2023		(8,459	)	$	37.29
Warrants outstanding and exercisable at December 31, 2023		160,060		$	18.86
Warrants issued during 2024		5,000,000			2.00
Warrants expired during 2024		(5,000	)	$	11.85
Warrants outstanding and exercisable at December 31, 2024		5,155,060		$	2.51

Aggregate intrinsic value of outstanding warrants at December 31, 2024	$	-

Weighted average remaining contractual terms (years)		5.0

FAIR VALUES OF FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2024

Fair Values Of Financial Instruments

FAIR VALUES OF FINANCIAL INSTRUMENTS

5. FAIR VALUES OF FINANCIAL INSTRUMENTS

FASB ASC Section 820, Fair Value Measurements and Disclosures, establishes a three-level hierarchy for fair value measurements which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are as follows:

Level 1: Quoted prices (unadjusted) or identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date;

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and

Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions that market participants would use in pricing an asset or liability.

Cash and cash equivalents and accounts payable are reflected in the consolidated balance sheets at their approximate estimated fair values primarily due to their short-term nature. The fair values of securities available for sale are determined by relying on the securities’ relationship to other benchmark quoted securities and classified its investments as Level 2 items in both 2024 and 2023. There were no transfers of assets or liabilities between Level 1 and Level 2 and no transfers in or out of Level 3 during the years ended December 31, 2024 and 2023.

Assets and liabilities measured at fair value are summarized below:

	Total Fair Value		Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:

Recurring items as of December 31, 2024
U.S. treasury obligations, available for sale	$	-	$	-	$	-	$	-

Recurring items as of December 31, 2023
U.S. treasury obligations, available for sale	$	9,857,087	$	9,857,087	$	-	$	-

SCHEDULE OF OTHER ACCRUED LIABILITIES (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Amounts due to contract research organizations and other contractual agreements	$ 1,048,036	$ 1,442,659
Accrued payroll and related benefits	1,945,111	1,693,383
Accrued professional fees	20,600	234,479
Other	20,000	20,000
Total	$ 3,033,747	$ 3,390,521

SCHEDULE OF INCOME TAX PROVISION (BENEFIT) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Current
Deferred
State and Local
Current
Deferred		(1,280,385)
Total		$ (1,280,385)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
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-Section 50
-Paragraph 1
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-Publisher FASB
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-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

INVESTMENTS IN DEBT SECURITIES AVAILABLE FOR SALE

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS IN DEBT SECURITIES AVAILABLE FOR SALE

4. INVESTMENTS IN DEBT SECURITIES AVAILABLE FOR SALE

Investments in debt securities available for sale with a fair value of $0 and $9,857,087 as of December 31, 2024 and 2023, respectively, consisted of U.S. Treasury securities and corporate debt securities. These investments are valued at estimated fair value, with unrealized gains and losses reported as a separate component of stockholders’ equity in accumulated other comprehensive loss.

The Company reviews its debt securities classified as short-term investments on a regular basis for impairment. For debt securities in unrealized loss positions, the Company determines whether any portion of the decline in fair value below the amortized cost basis is due to credit-related factors if it neither intends to sell nor anticipates that it is more likely than not that it will be required to sell prior to recovery of the amortized cost basis. The Company considers factors such as the extent to which the market value has been less than the cost, any noted failure of the issuer to make scheduled payments, changes to the rating of the security and other relevant credit-related factors in determining whether or not a credit loss exists. During fiscal 2024 and 2023, the Company did not recognize an allowance for credit-related losses on any of our investments.

A summary of the cost, fair value and maturities of the Company’s short-term investments is as follows:

	December 31, 2024				December 31, 2023
	Cost		Fair Value		Cost		Fair Value
Short-term investments
U.S. Treasury securities	$	-	$	-	$	9,796,291	$	9,857,087

	December 31, 2024				December 31, 2023
	Cost		Fair Value		Cost		Fair Value
Short-term investment maturities
Within 3 months	$	-	$	-	$	2,467,518	$	2,490,775
Between 3-12 months		-		-		7,328,773		7,366,312
Total	$	-	$	-	$	9,796,291	$	9,857,087

	December 31, 2024				December 31, 2023
Available for sale securities (all unrealized holding gains and losses are less than 12 months at date of measurement)	Fair Value		Unrealized Holding Gains (Losses)		Fair Value		Unrealized Holding Gains (Losses)

Investments in debt securities with unrealized gains	$	-	$	-	$	9,857,087	$	60,796

Investment income, net, which includes net realized losses on sales of available for sale securities and investment income interest and dividends, is summarized as follows:

	2024		2023
Interest and dividends accrued and paid	$	450,221	$	725,824
Realized losses		61,983		431,801
Investment income, net	$	512,204	$	1,157,625

IMUNON EMPLOYEE BENEFIT PLANS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Retirement Benefits [Abstract]
Maximum annual contributions per employee, percent	3.00%
Matching contributions of employee	$ 62,000	$ 142,000

RELATED PARTY TRANSACTION

12 Months Ended

Dec. 31, 2024

RELATED PARTY TRANSACTION

16. RELATED PARTY TRANSACTION

On November 16, 2022, the Company entered into a convertible note purchase agreement with Transomic Technologies, Inc. (“Transomic”) whereby the Company purchased $375,000 of convertible notes secured by certain assets held by Transomic and warrants. Imunon purchased products from Transomic for research and development purposes – primarily delivery vectors for its vaccine program. As a result of this investment in Transomic, Imunon’s executive chairman, Mr. Michael Tardugno, was appointed to the Board of Directors of Transomic. The Company disclosed the notes receivable as a related party transaction. In December 2023, Transomic filed a formal certificate of dissolution of the company resulting in a complete write-off of the convertible note and related warrants.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 5
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

LEASES (Details Narrative)	1 Months Ended		12 Months Ended
LEASES (Details Narrative)	Aug. 31, 2023 USD ($) ft²	Jan. 31, 2023 USD ($) ft²	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease, term	24 months	60 months
Incremental borrowing rate			9.98%
Operating lease, cost			$ 652,166	$ 646,633
Operating lease, payments			659,646	644,593
Amortization expense			$ 478,000	$ 472,000
Lease Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Area of land \| ft²	9,850	11,420
Lease Agreement [Member] \| Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments for rent	$ 22,983	$ 28,550
Lease Agreement [Member] \| Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments for rent	$ 23,394	$ 30,903

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

17. SUBSEQUENT EVENTS

The Company has evaluated its subsequent events from December 31, 2024, through the date these condensed consolidated financial statements were issued, determining all subsequent events have been disclosed.

SEGMENT PERFORMANCE MEASURES AND EXPENSES (Details Narrative)	12 Months Ended
	Dec. 31, 2024 Segment
Segment Reporting [Abstract]
Number of operating segment	1

SCHEDULE OF SIGNIFICANT EXPENSE CATEGORIES AND CONSOLIDATED NET LOSS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Research and development expenses	$ 11,639,411	$ 11,287,691
General and administrative expenses	7,493,035	9,742,739
Total operating expenses	19,132,446	21,030,430
Loss from operations	(19,132,446)	(21,030,430)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Research and development expenses	11,639,000	11,288,000
Change Increase (Decrease), Research and development expenses	$ 351,000
Change Increase (Decrease), Research and development expenses, percentage	3.10%
General and administrative expenses	$ 7,493,000	9,742,000
Change Increase (Decrease), General and administrative expenses	$ (2,249,000)
Change Increase (Decrease), General and administrative expenses, percentage	(23.10%)
Total operating expenses	$ 19,132,000	21,030,000
Change Increase (Decrease), Operating expenses	$ (1,898,000)
Change Increase (Decrease), Operating expenses, percentage	(9.00%)
Loss from operations	$ (19,132,000)	(21,030,000)
Change Increase (Decrease), Loss from operations	$ (1,898,000)
Change Increase (Decrease), Loss from operations, percentage	(9.00%)
Operating Segments [Member] \| Clinical Research [Member]
Segment Reporting Information [Line Items]
Subtotal	$ 5,240,000	2,990,000
Change Increase (Decrease), Subtotal	$ 2,250,000
Change Increase (Decrease), Subtotal, percentage	75.30%
Operating Segments [Member] \| Clinical Research [Member] \| Ovation [Member]
Segment Reporting Information [Line Items]
Subtotal	$ 1,386,000	1,197,000
Change Increase (Decrease), Subtotal	$ 189,000
Change Increase (Decrease), Subtotal, percentage	15.80%
Operating Segments [Member] \| Clinical Research [Member] \| Vaccine [Member]
Segment Reporting Information [Line Items]
Subtotal	$ 1,420,000
Change Increase (Decrease), Subtotal	$ 1,420,000
Change Increase (Decrease), Subtotal, percentage	100.00%
Operating Segments [Member] \| Clinical Research [Member] \| Other Clinical And Regulatory [Member]
Segment Reporting Information [Line Items]
Subtotal	$ 2,434,000	1,793,000
Change Increase (Decrease), Subtotal	$ 641,000
Change Increase (Decrease), Subtotal, percentage	35.80%
Operating Segments [Member] \| Non-Clinical R&D and CMC [Member]
Segment Reporting Information [Line Items]
Subtotal	$ 6,399,000	8,298,000
Change Increase (Decrease), Subtotal	$ (1,899,000)
Change Increase (Decrease), Subtotal, percentage	(22.90%)
Operating Segments [Member] \| Non-Clinical R&D and CMC [Member] \| Ovation [Member]
Segment Reporting Information [Line Items]
Subtotal	$ 1,819,000	1,504,000
Change Increase (Decrease), Subtotal	$ 315,000
Change Increase (Decrease), Subtotal, percentage	20.90%
Operating Segments [Member] \| Non-Clinical R&D and CMC [Member] \| PlaCCine Vaccine [Member]
Segment Reporting Information [Line Items]
Subtotal	$ 2,554,000	4,511,000
Change Increase (Decrease), Subtotal	$ (1,957,000)
Change Increase (Decrease), Subtotal, percentage	(43.40%)
Operating Segments [Member] \| Non-Clinical R&D and CMC [Member] \| Manufacturing (CMC) [Member]
Segment Reporting Information [Line Items]
Subtotal	$ 2,026,000	$ 2,283,000
Change Increase (Decrease), Subtotal	$ (257,000)
Change Increase (Decrease), Subtotal, percentage	(11.30%)

Consolidated Balance Sheets - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 5,872,767	$ 5,838,566
Investment in debt securities - available for sale, at fair value		9,857,087
Advances and deposits on clinical programs and other current assets	2,136,192	2,545,051
Total current assets	8,008,959	18,240,704
Property and equipment (at cost, less accumulated depreciation and amortization)	541,272	751,906
Other assets:
Deferred income tax asset		1,280,385
Operating lease right-of-use assets, net	1,117,133	1,595,074
Deposits and other assets	50,000	50,000
Total other assets	1,167,133	2,925,459
Total assets	9,717,364	21,918,069
Current liabilities:
Accounts payable – trade	1,300,026	3,515,192
Other accrued liabilities	3,033,747	3,390,521
Operating lease liabilities - current portion	452,358	485,421
Total current liabilities	4,786,131	7,391,134
Operating lease liabilities - non-current portion	686,935	1,139,293
Total liabilities	5,473,066	8,530,427
Commitments and contingencies
Stockholders’ equity:
Preferred Stock - $0.01 par value (100,000 shares authorized, and no shares issued or outstanding at December 31, 2024 and 2023)
Common stock - $0.01 par value (112,500,000 shares authorized; 14,500,707 and 9,399,811 shares issued at December 31, 2024 and 2023, respectively, and 14,500,685 and 9,399,789 shares outstanding at December 31, 2024 and 2023, respectively)	145,007	93,998
Additional paid-in capital	410,987,523	401,500,838
Accumulated other comprehensive income		60,796
Accumulated deficit	(406,803,044)	(388,182,802)
Total stockholders’ equity before treasury stock	4,329,486	13,472,830
Treasury stock, at cost (22 shares at December 31, 2024 and 2023)	(85,188)	(85,188)
Total stockholders’ equity	4,244,298	13,387,642
Total liabilities and stockholders’ equity	$ 9,717,364	$ 21,918,069

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 66,141,490	$ 67,310,000
Section 174	6,482,099	4,929,000
Other deferred tax assets, net	2,010,744	2,016,000
Subtotal	74,634,333	74,255,000
Valuation allowance	(74,634,333)	(72,974,615)
Total deferred tax asset		$ 1,280,385

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2024
Accounting Policies [Abstract]
Description of Business	Description of Business Imunon, Inc. (“Imunon” or the “Company”) is a clinical-stage biotechnology company focused on advancing a portfolio of innovative treatments that harness the body’s natural mechanisms with the aim to generate safe, effective and durable responses across a broad array of human diseases, constituting a differentiating approach from conventional therapies. Imunon is developing its non-viral DNA technology across its modalities. The first modality, TheraPlas®, is developed for the coding of proteins and cytokines in the treatment of solid tumors where an immunological approach is deemed promising. The second modality, PlaCCine®, is developed for the coding of viral antigens that can elicit a strong immunological response. This technology may represent a promising platform for the development of vaccines in infectious diseases. The Company’s lead clinical program, IMNN-001, is a DNA-based immunotherapy for the localized treatment of advanced ovarian cancer that has completed Phase II clinical studies. IMNN-001 works by instructing the body to produce safe and durable levels of powerful cancer-fighting molecules, such as interleukin-12 and interferon gamma, at the tumor site. Additionally, the Company has entered a first-in-human study of its COVID-19 booster vaccine (IMNN-101). The Company will continue to leverage these modalities and to advance the technological frontier of plasmid DNA to better serve patients with difficult-to-treat conditions.
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements (“Financial Statements”) of Imunon have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and CLSN Laboratories, Inc. The Company dissolved Celsion GmbH in 2023. All significant intercompany balances and transactions have been eliminated in consolidation.
Accounting Standards Update: Improvements to Reportable Segment Disclosures	Accounting Standards Update: Improvements to Reportable Segment Disclosures In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The disclosure requirements are required on an annual and interim basis and are applicable to entities with a single reportable segment. The amendments in the ASU require disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods for fiscal years beginning after December 31, 2024, with early adoption allowed. We adopted this guidance as of January 1, 2024 on a retrospective basis and the adoption did not have a material impact on our consolidated financial statements. Refer to Note 3, “Segment Performance Measures and Expenses,” for new disclosures resulting from the adoption of ASU 2023-07.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Financial Statements and the reported amounts of expenses during the reporting period. Actual results could differ significantly from those estimates.
Revenue Recognition	Revenue Recognition The Company did not generate any revenue in 2024 or 2023 and there were no accounts receivable as of December 31, 2024 and 2023.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and investments purchased with an original maturity of three months or less. A portion of these funds are not covered by FDIC insurance.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying values of financial instruments approximate their respective fair values. Management believes that the carrying amounts of the Company’s financial instruments, including cash and cash equivalents and accounts payable approximate fair value due to the short-term nature of those instruments. Short-term investments are recorded at their estimated fair value.
Short-Term Investments	Short-Term Investments The Company classifies its investments in debt securities with readily determinable fair values as investments available-for-sale in accordance with Accounting Standards Codification (“ASC”) 320, Investments - Debt and Equity Securities. Available-for-sale securities consist of debt securities not classified as trading securities or as securities to be held to maturity. The Company has classified all of its investments as available-for-sale. Unrealized holding gains and losses on available-for-sale securities are reported as a net amount in accumulated other comprehensive gain or loss in stockholders’ equity until realized. Gains and losses on the sale of available-for-sale securities are determined using the specific identification method. The Company’s short-term investments consist of corporate bonds.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is provided over the estimated useful lives of the related assets, ranging from three to seven years, using the straight-line method. Amortization is recognized over the lesser of the life of the asset or the lease term. Major renewals and improvements are capitalized at cost and ordinary repairs and maintenance are charged against operating expenses as incurred. Depreciation expense was approximately $240,000 and $248,000 for the years ended December 31, 2024 and 2023, respectively. The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An asset is considered impaired if its carrying amount exceeds the future net undiscounted cash flows that the asset is expected to generate. If such asset is considered to be impaired, the impairment recognized is the amount by which the carrying amount of the asset, if any, exceeds its fair value determined using a discounted cash flow model. There was no impairment of property or equipment during 2024 or 2023.
Advances and Deposits on Clinical Programs and Other Current Assets	Advances and Deposits on Clinical Programs and Other Current Assets Supplies are consumable items kept on hand to support the Company’s R&D and manufacturing operations which includes prepaid expense, raw materials, clinical supplies and consumable items for clinical trials with alternate uses that are capitalized. Supplies are recorded at cost and are charged to expense as they are used in operations. The Company regularly reviews the quality and utilization of supplies to determine if future use of these supplies is probable. Due to the generic use of these supplies, they can be used in multiple projects other than those currently being studied.
Deposits	Deposits Deposits include real property security deposits and other deposits which are contractually required and of a long-term nature.
Comprehensive Income (Loss)	Comprehensive Income (Loss) ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive income (loss) and its components in the Company’s consolidated financial statements. The objective of ASC 220 is to report a measure of comprehensive income (loss) of all changes in equity of an enterprise that result from transactions and other economic events in a period other than transactions with owners. Comprehensive gains (losses) result from changes in unrealized gains and losses from investment in debt securities.
Research and Development	Research and Development Research and development costs are expensed as incurred. Supplies are consumable and recorded at cost and are charged to expense as they are used in operations. Equipment and facilities acquired for research and development activities that have alternative future uses are capitalized and charged to expense over their estimated useful lives.
Net Loss per Share of Common Stock	Net Loss per Share of Common Stock Basic and diluted net loss per common share was computed by dividing net loss for the year by the weighted average number of shares of common stock outstanding, both basic and diluted, during each period. The impact of common stock equivalents has been excluded from the computation of diluted weighted average common shares outstanding in periods where there is a net loss, as their effect is anti-dilutive. For the years ended December 31, 2024 and 2023, the total number of shares of common stock issuable upon exercise of warrants and equity awards was 6,840,633 and 1,255,642, respectively. For the years ended December 31, 2024 and 2023, diluted loss per common share is the same as basic loss per common share as all options and all other warrants that were convertible into shares of the Company’s common stock were excluded from the calculation of diluted earnings attributable to common stockholders per common share as their effect would be anti-dilutive.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in results of operations in the period that the tax rate change occurs. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In accordance with ASC 740, Income Taxes, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position taken would be sustained in a tax examination, presuming that a tax examination will occur. The Company recognizes interest and/or penalties related to income tax matters in the income tax expense category. As more fully discussed in Note 10, on November 28, 2023, the Company received approval from the New Jersey Economic Development Authority to sell $1.3 million of its New Jersey net operating losses (“NOLs”), recognizing a tax benefit for the year ended December 31, 2023 for the net proceeds (approximately $1.3 million) by reducing the net operating loss valuation allowance. As more fully discussed in Note 10, on November 28, 2023, the Company was notified by the New Jersey Economic Development Authority that its application was approved and the Company entered into an agreement to sell this NOL. On March 22, 2024, the Company received approximately $1.3 million upon completion of the sale of the 2023 NOLs. During 2021, the New Jersey State Legislature increased the maximum lifetime benefit per company from $15 million to $20 million, which will allow the Company to participate in this innovative funding program in future years for up to an additional $0.4 million in net operating losses under this maximum lifetime benefit (see Note 2).
Stock-Based Compensation	Stock-Based Compensation The Company accounts for all share-based payment awards granted to employees and non-employees as stock-based compensation expense at grant date fair value. The Company’s share-based payments include stock options and grants of common stock, including common stock subject to vesting. The measurement date for employee awards is the date of grant, and stock-based compensation costs are recognized as expense over the employees’ requisite service period, which is the vesting period, on a straight-line basis. Prior to the adoption of Accounting Standards Update (“ASU”) No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU No. 2018-07”) on January 1, 2020, the measurement date for non-employee awards was generally the date the services were completed, resulting in financial reporting period adjustments to stock-based compensation during the vesting terms for changes in the fair value of the awards. Since the adoption of ASU 2018-07, the measurement date for non-employee awards is the date of grant without changes in the fair value of the award. There was no material impact as a result of adopting this new standard. Stock-based compensation costs for non-employees are recognized as expense over the vesting period on a straight-line basis. Stock-based compensation expense is classified in the accompanying consolidated statements of operations based on the function to which the related services are provided. Forfeitures are recorded as they occur. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model. Since there is limited historical data of the Company’s share price on the public market, the Company estimates its expected stock volatility based on the historical volatility of a publicly traded set of representative companies and expects to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded stock price. The expected term of the Company’s stock options has been determined utilizing the “simplified” method for awards that qualify as “plain-vanilla” options. The risk-free interest rate is determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield is based on the fact that the Company has never paid cash dividends on common stock and does not expect to pay any cash dividends in the foreseeable future.
Warrant Accounting	Warrant Accounting We account for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrants’ specific terms and applicable authoritative guidance in ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), and ASC 815 “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to our own ordinary shares and whether warrant holders could potentially require “net cash settlement” in a circumstance outside of our control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end-date while the warrants are outstanding. For issued or modified warrants that meet all the criteria for equity classification, the warrants are required to be recorded as a component of equity at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of warrants classified as liabilities are recognized as a non-cash gain or loss on our statements of operations. As the warrants issued upon our financings in 2024 meet the criteria for equity classification under ASC 815, those warrants were classified as equity as of December 31, 2024. No warrants were issued in 2023.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB and are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued accounting pronouncements will not have a material impact on the Company’s consolidated financial position, results of operations, and cash flows, or do not apply to its operations. In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The disclosure requirements are required on an annual and interim basis and are applicable to entities with a single reportable segment. The amendments in the ASU require disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), a description of other segment items by reportable segment, and any additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods for fiscal years beginning after December 31, 2024, with early adoption allowed. We adopted this guidance as of January 1, 2024 on a retrospective basis and the adoption did not have a material impact on our consolidated financial statements. Refer to Note 3, “Segment Performance Measures and Expenses,” for new disclosures resulting from the adoption of ASU 2023-07. In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU No. 2023-09 is effective for fiscal years beginning after December 15, 2024 and allows for adoption on a prospective basis, with a retrospective option. Early adoption is permitted. The Company is currently evaluating the impact of the ASU on the income tax disclosures within the consolidated financial statements. In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses (“ASU 2024-03”). ASU 2024-03 will require more detailed information about the types of expenses in commonly presented income statement captions such as “Cost of sales” and “Selling, general and administrative expenses”. The new guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027 with early adoption permitted. The Company is currently evaluating the impact that this change will have on the Company’s disclosures.

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

6. PROPERTY AND EQUIPMENT

Property and equipment at December 31, 2024 and 2023 consist of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT


	December 31,
	2024			2023
Machinery and equipment (5-7 year life)	$	951,192		$	2,055,192
Furniture and fixtures (3-5 year life)		167,351			191,932
Leasehold improvements (5-7 year life)		619,024			607,054
Property and equipment gross		1,737,567			2,854,178
Less accumulated depreciation and amortization		(1,196,295	)		(2,102,272	)

Total	$	541,272		$	751,906

FINANCIAL CONDITION AND GOING CONCERN UNCERTAINTY

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

FINANCIAL CONDITION AND GOING CONCERN UNCERTAINTY

2. FINANCIAL CONDITION AND GOING CONCERN UNCERTAINTY

Since inception, the Company has incurred substantial operating losses, principally from expenses associated with the Company’s research and development programs, clinical trials conducted in connection with the Company’s drug candidates, and applications and submissions to the FDA. The Company has not generated significant revenue and has incurred significant net losses in each year since inception. For the year ended December 31, 2024, the Company had a net loss of $18.6 million and used $18.9 million to fund operations. As of December 31, 2024, the Company has incurred approximately $407 million of cumulative net losses. As of December 31, 2024, the Company had $5.9 million in cash and cash equivalents and short-term investments. The Company has substantial future capital requirements to continue its research and development activities and advance its drug candidates through various development stages. The Company believes these expenditures are essential for the commercialization of its drug candidates and technologies.

The Company expects its operating losses to continue for the foreseeable future as it continues its product development efforts, and when it undertakes marketing and sales activities. The Company’s ability to achieve profitability is dependent upon its ability to obtain governmental approvals, manufacture, and market and sell its new drug candidates. There can be no assurance that the Company will be able to commercialize its technology successfully or that profitability will ever be achieved. The Company expects that its operating results will fluctuate significantly in the future and will depend on a number of factors, many of which are outside the Company’s control.

The Company’s ability to raise additional capital may be adversely impacted by potential worsening global economic conditions and the recent disruptions to, and volatility in, financial markets in the U.S. and worldwide resulting from the Russian invasion of Ukraine and the unrest in the Middle East. The Company continues to monitor its operating activities in light of these events, and it is possible that these events could result in a variety of risks to the business. The specific impact, if any, is not readily determinable as of the date of these consolidated Financial Statements.

The Company has based its estimates on assumptions that may prove to be wrong. The Company may need to obtain additional funds sooner or in greater amounts than it currently anticipates. Potential sources of financing include strategic relationships, public or private sales of the Company’s shares or debt, the sale of the Company’s New Jersey NOLs and other sources. If the Company raises funds by selling additional shares of common stock or other securities convertible into common stock, the ownership interest of existing stockholders may be diluted.

The actual amount of funds the Company will need to operate is subject to many factors, some of which are beyond the Company’s control. These factors include the progress of research activities; the number and scope of research programs; the progress of preclinical and clinical development activities; the progress of the development efforts of parties with whom the Company has entered into research and development agreements; the costs associated with additional clinical trials of drug candidates; the ability to maintain current research and development licensing arrangements and to establish new research and development and licensing arrangements; the ability to achieve milestones under licensing arrangements; the costs involved in prosecuting and enforcing patent claims and other intellectual property rights; and the costs and timing of regulatory approvals.

The consolidated financial statements have been prepared on the going concern basis. In making this assessment, management conducted a comprehensive review of the Company’s business plan including, but not limited to:

	●	the Company’s financial position for the year ended December 31, 2024;

	●	significant events and transactions the Company has entered into since December 31, 2024;

	●	the Company’s cash flow and cash usage forecasts for the period one year from the issuance date of this Annual Report on Form 10-K;

	●	the Company’s capitalization structure including common stock outstanding and common stock issuable on exercise of warrants and equity awards, and other common stock issuable under equity plans; and

	●	continued support of the Company’s stockholders.

As a result of the uncertainties involved in our business, we are unable to estimate the duration and completion costs of our research and development projects or when, if ever, and to what extent we will receive cash inflows from the commercialization and sale of a product. Our inability to complete our research and development projects in a timely manner or our failure to enter into collaborative agreements, when appropriate, could significantly increase our capital requirements and could adversely impact our liquidity. These uncertainties could force us to seek additional, external sources of financing from time to time in order to continue with our business strategy. Our inability to raise additional capital, or to do so on terms reasonably acceptable to us, would jeopardize the future success of our business. Our estimated future capital requirements are uncertain and could change materially as a result of many factors, including the progress of our research, development, clinical, manufacturing, and commercialization activities.

Management has determined the Company has suffered recurring losses from operations and has an accumulated deficit that raises substantial doubt about our ability to continue as a going concern for the next twelve months from the issuance date of this Annual Report on Form 10-K. The report of our independent registered public accounting firm for the year ended December 31, 2024 includes an explanatory paragraph, which expresses substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of the uncertainty.

A fundamental component of the ability to continue as a going concern is the Company’s ability to raise capital as required, as to which no assurances can be provided. To address the additional funding requirements of the Company, management has undertaken the following initiatives:

	●	it has assessed its current expenditures and will be reducing the current spending requirements where necessary;

	●	it will pursue additional capital funding in the public and private markets through equity sales and/or debt facilities;

	●	it will pursue possible partnerships and collaborations; and

	●	it will pursue potential out licensing for its drug candidates.

Our ability to continue as a going concern may depend on our ability to raise additional capital, attain further operating efficiencies, reduce expenditures, and, ultimately, to generate revenue. There are no assurances that these future funding and operating efforts will be successful. If management is unsuccessful in these efforts, our current capital is not expected to be sufficient to fund our operations for the next twelve months.

IMUNON EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

IMUNON EMPLOYEE BENEFIT PLANS

13. IMUNON EMPLOYEE BENEFIT PLANS

Imunon maintains a defined-contribution plan under Section 401(k) of the Code. The plan covers substantially all employees over the age of twenty-one. Participating employees may defer a portion of their pretax earnings, up to the IRS annual contribution limit. The Company makes a matching contribution up to a maximum of 3% of an employee’s annual salary. The Company’s total matching contributions for the year ended December 31, 2024 and 2023 were $62,000 and $142,000, respectively.

NOTES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

SCHEDULE OF DEBT


Principal balance at April 21, 2023	$	6,000,000
Early termination fees		120,000
End of term charges		300,000
Total payoff amount	$	6,420,000

SUMMARY OF STOCK OPTIONS OUTSTANDING (Details)	12 Months Ended
SUMMARY OF STOCK OPTIONS OUTSTANDING (Details)	Dec. 31, 2024 $ / shares shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding, Number \| shares	1,645,873
Options Exercisable, Number \| shares	907,723
Exercise Price One [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices, Upper	$ 1.50
Options Outstanding, Number \| shares	1,250,252
Options Outstanding, Weighted Average Remaining Contractual Term (in years)	9 years 3 months 18 days
Options Outstanding, Weighted Average Exercise Price	$ 1.15
Options Exercisable, Number \| shares	513,433
Options Exercisable, Weighted Average Remaining Contractual Term (in years)	9 years 1 month 6 days
Options Exercisable, Weighted Average Exercise Price	$ 1.13
Exercise Price Two [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices, Upper	$ 4.50
Options Outstanding, Number \| shares	207,345
Options Outstanding, Weighted Average Remaining Contractual Term (in years)	7 years 6 months
Options Outstanding, Weighted Average Exercise Price	$ 1.93
Options Exercisable, Number \| shares	206,289
Options Exercisable, Weighted Average Remaining Contractual Term (in years)	7 years 6 months
Options Exercisable, Weighted Average Exercise Price	$ 1.93
Range of Exercise Prices, Lower	1.51
Exercise Price Three [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of Exercise Prices, Upper	$ 4.51
Options Outstanding, Number \| shares	188,276
Options Outstanding, Weighted Average Remaining Contractual Term (in years)	6 years 10 months 24 days
Options Outstanding, Weighted Average Exercise Price	$ 7.28
Options Exercisable, Number \| shares	188,001
Options Exercisable, Weighted Average Remaining Contractual Term (in years)	6 years 10 months 24 days
Options Exercisable, Weighted Average Exercise Price	$ 7.27

SCHEDULE OF DEBT (Details) - Horizon Technology Finance Corporation [Member]	Apr. 21, 2023 USD ($)
Principal balance at April 21, 2023	$ 6,000,000
Early termination fees	120,000
End of term charges	300,000
Total payoff amount	$ 6,420,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

SCHEDULE OF PROPERTY AND EQUIPMENT

Property and equipment at December 31, 2024 and 2023 consist of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT


	December 31,
	2024			2023
Machinery and equipment (5-7 year life)	$	951,192		$	2,055,192
Furniture and fixtures (3-5 year life)		167,351			191,932
Leasehold improvements (5-7 year life)		619,024			607,054
Property and equipment gross		1,737,567			2,854,178
Less accumulated depreciation and amortization		(1,196,295	)		(2,102,272	)

Total	$	541,272		$	751,906

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Operating expenses:
Research and development	$ 11,639,411	$ 11,287,691
General and administrative	7,493,035	9,742,739
Total operating expenses	19,132,446	21,030,430
Loss from operations	(19,132,446)	(21,030,430)
Other income (expense):
Investment income, net	512,204	1,157,625
Loss on debt extinguishment		(329,158)
Interest expense		(197,080)
Other expense		(396,319)
Total other income (expense), net	512,204	235,068
Loss before income tax benefit	(18,620,242)	(20,795,362)
Income tax benefit		1,280,385
Net loss	$ (18,620,242)	$ (19,514,977)
Net loss per common share - Basic	$ (1.62)	$ (2.16)
Net loss per common share - Diluted	$ (1.62)	$ (2.16)
Weighted average common shares outstanding - Basic	11,508,159	9,045,320
Weighted average common shares outstanding - Diluted	11,508,159	9,045,320

FINANCIAL CONDITION AND GOING CONCERN UNCERTAINTY (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 18,620,242	$ 19,514,977
Fund operation	18,854,970	19,022,148
Cumulated net losses	406,803,044	$ 388,182,802
Cash and cash equivalents, short-term investments	$ 5,900,000

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

LEASES (Tables)

12 Months Ended

Dec. 31, 2024

Leases

SCHEDULE OF LEASE PAYMENTS AND MATURITY OF OPERATING LEASE LIABILITIES

The following is a table of the lease payments and maturity of the Company’s operating lease liabilities as of December 31, 2024:

	For the year ending December 31,
2025	$	543,009
2026		362,976
2027		370,235
2028 and thereafter		30,904
Subtotal future lease payments		1,307,124
Less imputed interest		(167,831	)
Total lease liabilities	$	1,139,293

Weighted average remaining life		2.7 years

Weighted average discount rate		9.98	%

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 1,737,567	$ 2,854,178
Less accumulated depreciation and amortization	(1,196,295)	(2,102,272)
Total	541,272	751,906
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment gross	951,192	2,055,192
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment gross	167,351	191,932
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment gross	$ 619,024	$ 607,054

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

SUMMARY OF STOCK OPTIONS

A summary of stock option awards as of December 31, 2024 and changes during the two-year period ended December 31, 2024 is presented below:

SUMMARY OF STOCK OPTIONS

Stock Options	Number Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at January 1, 2023		760,220		$	4.55
Options granted		432,500		$	1.23
Options canceled or expired		(129,238	)	$	9.37
Outstanding at December 31, 2023		1,063,482		$	2.61
Options granted		1,051,835		$	1.12
Options canceled or expired		(469,444	)	$	1.58
Outstanding at December 31, 2024		1,645,873		$	1.95		8.8	$	13,476

Exercisable at December 31, 2024		907,723		$	2.58		8.3	$	7,299

SUMMARY OF NON-VESTED RESTRICTED STOCK AWARDS

A summary of the status of the Company’s non-vested restricted stock awards as of December 31, 2024 and changes during the two-year period ended December 31, 2024, is presented below:

Restricted Stock	Number Outstanding			Weighted Average Grant Date Fair Value
Non-vested stock awards outstanding at January 1, 2023		69,650		$	1.92
Granted		22,100		$	0.92
Vested and issued		(59,450	)	$	1.91
Forfeited		(200	)	$	4.60
Non-vested stock awards outstanding at December 31, 2023		32,100		$	1.23
Granted		39,700		$	0.99
Vested and issued		(12,100	)	$	1.84
Forfeited		(20,000	)	$	0.88
Non-vested stock awards outstanding at December 31, 2024		39,700		$	0.99

SUMMARY OF STOCK OPTIONS OUTSTANDING

A summary of stock options outstanding at December 31, 2024 by price range is as follows:

SUMMARY OF STOCK OPTIONS OUTSTANDING

			Options Outstanding				Options Exercisable
Range of Exercise Prices	Number		Weighted Average Remaining Contractual Term (in years)		Weighted Average Exercise Price		Number		Weighted Average Remaining Contractual Term (in years)		Weighted Average Exercise Price

Up to $1.50		1,250,252		9.3	$	1.15		513,433		9.1	$	1.13
$1.51 to $4.50		207,345		7.5	$	1.93		206,289		7.5	$	1.93
Above $4.51		188,276		6.9	$	7.28		188,001		6.9	$	7.27
		1,645,873						907,723

SCHEDULE OF ASSUMPTIONS USED TO DETERMINE FAIR VALUE OF OPTIONS GRANTED

	Year Ended December 31,
	2024			2023
Risk-free interest rate		3.72% to 4.50	%		3.39 % to 4.81	%
Expected volatility		101.7% to 115.8	%		100.0% to 113.6	%
Expected life (in years)		7.5 to 10			7.5 to 10
Expected dividend yield		0.0	%		0.0	%

WARRANTS (Tables)

12 Months Ended

Dec. 31, 2024

Warrants

SUMMARY OF WARRANT ACTIVITY

Following is a summary of all warrant activity for the two years ended December 31, 2024:

SUMMARY OF WARRANT ACTIVITY

Warrants	Number of Warrants Issued			Weighted Average Exercise Price
Warrants outstanding at January 1, 2023		168,519		$	19.78
Warrants issued during 2024		5,000,000			2.00
Warrants expired during 2023		(8,459	)	$	37.29
Warrants outstanding and exercisable at December 31, 2023		160,060		$	18.86
Warrants issued during 2024		5,000,000			2.00
Warrants expired during 2024		(5,000	)	$	11.85
Warrants outstanding and exercisable at December 31, 2024		5,155,060		$	2.51

Aggregate intrinsic value of outstanding warrants at December 31, 2024	$	-

Weighted average remaining contractual terms (years)		5.0

NOTES PAYABLE (Details Narrative) - Silicon Valley Bank [Member] - USD ($)		1 Months Ended	12 Months Ended
	Jun. 18, 2021	Aug. 31, 2020	Dec. 31, 2023
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 10,000,000
Proceeds from lines of credit	6,000,000
Loan amount withdrawn		$ 10,000,000
Repayments of lines of credit		$ 5,000,000
Restricted cash	$ 6,000,000.0
Final payment percentage	3.00%
Long term line of credit	$ 10,000,000
Debt instrument, description	Payments under the loan agreement were interest only for the first 24 months after loan closing, followed by a 24-month amortization period of principal and interest through the scheduled maturity date.
Financing fees and expenses	$ 243,370
End of term charge percentage	3.00%
Interest expense debt	$ 300,000		$ 334,212
Interest expense			197,080
Amortization of debt issuance costs			329,158
Gain (loss) on contract termination			$ 329,158