Imunon, Inc. (CLSN) Stock Analysis
DELISTED 2022
What happened to Imunon, Inc. (CLSN) stock?
Imunon, Inc. (CLSN) no longer trades on public markets. It was delisted in September 2022. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Imunon, Inc. (CLSN) trades at $1.95. Imunon, Inc. is a clinical-stage biotechnology company focused on developing DNA-based immunotherapies and vaccines. Their lead product candidates target ovarian cancer and other cancer indications through innovative delivery systems. Market cap: $14.5M, Sector: Healthcare.
Last analyzed: Mar 18, 2026Analyst Coverage for CLSN: CLSN does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates CLSN against Healthcare peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
CLSN: 1/2 scored disciplines lean bearish. Dominant signal: Seth Klarman bearish.
How is this calculated? →Imunon, Inc. (CLSN) Healthcare & Pipeline Overview
Imunon, Inc., a clinical-stage biotechnology firm, specializes in DNA-based immunotherapies and targeted chemotherapies. Their pipeline features GEN-1 for ovarian cancer and ThermoDox for various cancers, utilizing proprietary heat-activated liposomal technology. The company aims to develop innovative nucleic acid-based therapies in the competitive biotechnology sector.
What Is the Investment Thesis for CLSN?
Imunon, Inc. presents a high-risk, high-reward investment opportunity within the biotechnology sector. The company's valuation is approximately $10 million, reflecting its early stage and clinical development risks. Key value drivers include the successful advancement of GEN-1 through clinical trials for ovarian cancer, with potential FDA approval representing a significant catalyst. Positive Phase 3 trial data, expected in late 2026, could drive substantial stock appreciation. ThermoDox's development also presents upside potential, though it is further from commercialization. Risks include clinical trial failures, regulatory hurdles, and the need for additional capital, potentially diluting existing shareholders. The company's success hinges on demonstrating clinical efficacy and securing strategic partnerships to support commercialization efforts.
Based on FMP financials and quantitative analysis
CLSN Key Highlights
Market capitalization of $14.5M indicates a micro-cap company with high growth potential but also significant risk.
- Negative P/E ratio of -0.62 reflects the company's current lack of profitability due to ongoing research and development expenses.
- Beta of 2.26 suggests the stock is significantly more volatile than the overall market, indicating higher risk and potential for larger price swings.
- Focus on DNA-based immunotherapies positions the company in a rapidly evolving and potentially lucrative segment of the biotechnology industry.
- GEN-1's clinical development for ovarian cancer represents a near-term value driver, with potential for significant market opportunity if approved.
Who Are CLSN's Competitors?
CLSN is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| AXLA Axcella Health Inc. | $4.58 | +0.00% | $12.5M | 44 |
| CYAD Celyad Oncology S.A. | $0.47 | -12.96% | $14.2M | 57 |
| HURA TuHURA Biosciences, Inc. | $2.22 | -2.63% | $141M | — |
| KA Kineta, Inc. | $0.57 | -30.77% | $7.05M | 45 |
| ADAPY Adaptimmune Therapeutics plc | $0.03 | +0.00% | $7.16M | 72 |
| RLYB Rallybio Corporation | $16.60 | -2.35% | $88.1M | 81 |
| ICCC ImmuCell Corporation | $10.09 | -0.39% | $91.3M | 77 |
| JNCE Jounce Therapeutics, Inc. | $1.88 | +0.00% | $99.0M | 71 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are CLSN's Key Strengths?
Proprietary DNA-based immunotherapy platform.
- Heat-activated liposomal drug delivery technology (ThermoDox).
- Focus on innovative cancer therapies.
- Experienced management team.
What Are CLSN's Weaknesses?
Limited financial resources.
- Dependence on clinical trial outcomes.
- Small number of employees.
- Lack of commercialized products.
What Could Drive CLSN Stock Higher?
Phase 3 clinical trial data readout for GEN-1 in ovarian cancer (late 2026).
- Enrollment and progress in ongoing clinical trials for GEN-1 and ThermoDox.
- Potential for strategic partnerships or collaborations to fund development.
What Are the Key Risks for CLSN?
Weak fundamentals — a Piotroski F-Score of 1/9 flags soft profitability, leverage or efficiency.
- Clinical trial failures or delays.
- Regulatory hurdles and delays in obtaining FDA approval.
- Competition from larger pharmaceutical companies with greater resources.
- Need for additional capital to fund ongoing operations and clinical trials.
- Patent expiration or challenges to intellectual property.
What Are the Growth Opportunities for CLSN?
- Expansion of GEN-1 into additional cancer indications: GEN-1 is currently in development for ovarian cancer, but its mechanism of action could be applicable to other solid tumors. Expanding the clinical program to include indications such as pancreatic cancer or colorectal cancer could significantly increase the market opportunity. The market for cancer therapies is projected to reach $250 billion by 2030, providing ample room for growth.
- Advancement of ThermoDox through clinical trials: ThermoDox, with its heat-activated liposomal delivery system, has the potential to improve the efficacy and reduce the toxicity of doxorubicin. Successfully completing clinical trials and securing regulatory approval for ThermoDox could open up a significant market opportunity in various cancer indications. The liposomal drug delivery market is expected to reach $10 billion by 2028.
- Strategic partnerships and collaborations: Imunon can leverage strategic partnerships with larger pharmaceutical companies or other biotechnology firms to accelerate the development and commercialization of its product candidates. Collaborations can provide access to funding, expertise, and distribution channels, thereby reducing risk and increasing the likelihood of success. The deal value of biotech partnerships reached $150 billion in 2025.
- Development of novel nucleic acid-based immunotherapies: Imunon's feasibility-stage platform technologies provide a foundation for the development of new nucleic acid-based immunotherapies and vaccines. Investing in R&D to advance these platforms could lead to the discovery of innovative therapies for a wide range of diseases, including cancer and infectious diseases. The market for nucleic acid therapeutics is projected to reach $40 billion by 2030.
- Geographic expansion into new markets: Imunon's initial focus is on the US market, but expanding into other regions, such as Europe and Asia, could significantly increase its revenue potential. These markets offer large patient populations and growing demand for innovative cancer therapies. The global market for cancer therapies is expected to reach $300 billion by 2032, with Asia representing a significant growth driver.
What Are CLSN's Competitive Advantages?
- Proprietary DNA-based immunotherapy platform.
- Heat-activated liposomal drug delivery technology (ThermoDox).
- Patent protection on key technologies and product candidates.
- Clinical data supporting the efficacy and safety of GEN-1.
What Does CLSN Do?
Founded in 1982 and based in Lawrenceville, New Jersey, Imunon, Inc. (formerly Celsion Corporation) is a clinical-stage biotechnology company dedicated to the development and commercialization of innovative DNA-based immunotherapies, vaccines, and directed chemotherapies for the treatment of cancer. The company's primary focus is on leveraging its expertise in nucleic acid delivery and immune stimulation to create novel therapies that can improve patient outcomes. Imunon's lead product candidate, GEN-1, is a DNA-based immunotherapy designed for the localized treatment of ovarian cancer. GEN-1 works by delivering the DNA encoding for interleukin-12 (IL-12), a potent immune stimulator, directly into the tumor microenvironment, thereby activating the patient's own immune system to fight the cancer. Another key asset in Imunon's pipeline is ThermoDox, a proprietary heat-activated liposomal encapsulation of doxorubicin, a widely used chemotherapy drug. ThermoDox is designed to deliver doxorubicin directly to tumors when heated, potentially reducing systemic toxicity and improving efficacy. In addition to GEN-1 and ThermoDox, Imunon has two feasibility-stage platform technologies for the development of nucleic acid-based immunotherapies, vaccines, and other anti-cancer DNA or RNA therapies. These platforms enable the company to explore new approaches to cancer treatment and expand its product pipeline. Imunon operates with a lean team of 29 employees, focusing on strategic partnerships and collaborations to advance its clinical programs and maximize the value of its technology.
What Products and Services Does CLSN Offer?
- Develop DNA-based immunotherapies for cancer treatment.
- Create vaccines using nucleic acid-based technologies.
- Focus on directed chemotherapies to target cancer cells.
- Utilize a proprietary heat-activated liposomal encapsulation technology.
- Conduct clinical trials to evaluate the safety and efficacy of their therapies.
- Seek strategic partnerships to advance their product pipeline.
- Develop therapies for localized treatment of ovarian cancer.
How Does CLSN Make Money?
- Develop proprietary drug candidates based on DNA and liposomal technologies.
- Out-license or partner with larger pharmaceutical companies for commercialization.
- Generate revenue through milestone payments and royalties on partnered products.
What Industry Does CLSN Operate In?
Imunon operates within the dynamic and competitive biotechnology industry, which is characterized by high R&D spending, lengthy regulatory approval processes, and significant clinical trial risks. The market for cancer immunotherapies is experiencing rapid growth, driven by advances in genomics, personalized medicine, and a deeper understanding of the tumor microenvironment. Key trends include the development of novel drug delivery systems, such as liposomes, and the exploration of combination therapies to enhance efficacy. Imunon's focus on DNA-based immunotherapies positions it within this innovative space, competing with larger pharmaceutical companies and specialized biotech firms.
Who Are CLSN's Key Customers?
- Patients with cancer, particularly ovarian cancer.
- Hospitals and oncology clinics.
- Pharmaceutical companies seeking novel cancer therapies.
Company Profile
Imunon, Inc. operates in the Biotechnology industry within the Healthcare sector. It is headquartered in Lawrence Township, US. The company is led by CEO Michael Tardugno. CLSN has traded publicly since 1993.
Imunon, Inc. (CLSN) Valuation Context
Valued at $14.5M, CLSN is classified as a micro-cap stock.
Key Financial Metrics
A current ratio of 1.59 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -163.6%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
Imunon, Inc.'s Piotroski F-Score is 1/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny.
CLSN Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in the company's future prospects, indicating that executives believe in the potential for growth.
- Community sentiment has shifted positively as recent announcements about product developments have sparked interest among investors.
- Increased media coverage and discussions on social platforms highlight a growing awareness of Imunon's innovative approach to treatments.
- Analysts and community members are discussing potential partnerships that could enhance Imunon's market position and drive future revenues.
Bear Case
- Concerns about the company's cash runway have surfaced, leading to skepticism about its ability to fund ongoing operations without additional financing.
- Some community members express doubts regarding the scalability of Imunon's technology, questioning its real-world application and market acceptance.
- Recent clinical trial results have raised questions, with mixed reviews from the community on the efficacy of Imunon's products.
- Market sentiment remains cautious due to broader economic uncertainties, which could impact small-cap biotech stocks like Imunon.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
CLSN Latest News
No recent news available for CLSN.
Leadership: Michael Tardugno
CEO
Michael Tardugno serves as the Chief Executive Officer of Imunon, Inc. His career spans several decades in the pharmaceutical and biotechnology industries, with a focus on oncology and immunotherapy. Prior to joining Imunon, he held leadership positions at various companies, including roles in strategic planning, business development, and commercial operations. Tardugno's background includes extensive experience in bringing innovative therapies to market and building successful biotech companies. He is responsible for managing 29 employees.
Track Record: Under Michael Tardugno's leadership, Imunon has focused on advancing its clinical programs, particularly GEN-1 for ovarian cancer. Key milestones include initiating and progressing Phase 2 and Phase 3 clinical trials, securing strategic partnerships, and raising capital to support the company's operations. Tardugno has also overseen the development of the company's pipeline and the expansion of its intellectual property portfolio.
Common Questions About CLSN (Healthcare)
What happened to Imunon, Inc. (CLSN) stock?
Imunon, Inc. (CLSN) no longer trades on public markets. It was delisted in September 2022. The figures below are historical and are not a current quote.
Can I still buy CLSN shares?
No. CLSN stopped trading on public markets in September 2022, so the shares are not available through a broker. Anything you see quoted for CLSN elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before CLSN stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Imunon, Inc.. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Imunon, Inc. do?
Imunon, Inc. is a clinical-stage biotechnology company focused on the development and commercialization of DNA-based immunotherapies, vaccines, and directed chemotherapies for the treatment of cancer. The company's lead product candidate, GEN-1, is a DNA-based immunotherapy designed for the localized treatment of ovarian cancer. Imunon also has ThermoDox, a heat-activated liposomal encapsulation of doxorubicin, in development for various cancer indications.
What are the main risks for CLSN?
Imunon, Inc. faces several key risks, including clinical trial failures, regulatory hurdles, and competition from larger pharmaceutical companies. The company's success depends on the positive outcome of its clinical trials and the ability to secure regulatory approval for its product candidates.
What are the key growth opportunities for CLSN in healthcare?
Imunon, Inc.'s key growth opportunities lie in expanding the application of its GEN-1 immunotherapy to other cancer types beyond ovarian cancer, leveraging its ThermoDox technology for targeted drug delivery, and securing strategic partnerships with larger pharmaceutical companies. Expansion into new therapeutic areas, such as pancreatic or colorectal cancer, could significantly broaden the market for GEN-1.
How does Imunon, Inc. manage patent expiration risks?
Imunon, Inc. manages patent expiration risks through a multi-faceted approach that includes actively seeking new patent protection for its technologies and product candidates, developing next-generation therapies with new intellectual property, and strategically managing its existing patent portfolio.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on publicly available sources and may be subject to change.
- AI analysis is pending and may provide additional insights.