NASDAQ$IMNN

Celsion Corp · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

IMUNON reported financial results for Q1 2024 and provided a business update.

IMUNON reported a net loss of $4.9 million, or $0.52 per share, for the first quarter of 2024, compared to a net loss of $5.6 million, or $0.68 per share, for the first quarter of 2023. The company's operating expenses decreased by 12% to $5.0 million. They ended the quarter with $9.8 million in cash, investments and accrued interest receivable.

  • Topline results from the OVATION 2 Study with IMNN-001 in advanced ovarian cancer are expected in mid-2024.
  • IND application for seasonal COVID-19 booster vaccine (IMNN-101) was accepted by the FDA, and a Phase 1 proof-of-concept study has begun.
  • Stacy R. Lindborg, Ph.D. was appointed as President and Chief Executive Officer, effective May 13, 2024.
  • Received $1.3 million in non-dilutive funding from the sale of New Jersey Net Operating Losses.

Headline financials

Total Revenue

-$73.5K

Previous: $103K-171.3%
EPS

-$0.52

Previous: -$0.68+23.5%
Cash Used in Operations

$5.9M

No prior period
Capital Expenditures

-$11.8K

Previous: -$57.1K+79.4%
Free Cash Flow

-$4.94M

Previous: -$5.65M+12.5%
Net Income

-$4.93M

Previous: -$5.59M+11.8%
Operating Income

-$5.01M

Previous: -$5.68M+11.8%
Gross Profit

-$73.5K

Previous: $103K-171.3%
R&D Expense

$3.29M

No prior period
Stock-Based Comp

-$30.7K

Previous: $339K-109.1%

Revenue & EPS history

Celsion · Revenue · Quarterly

-$73.5K

Q1 2024-171.3%vs Q1 2023
Beat estimate in 7 of 8 quarters(88%)
ActualEstimate

Forward guidance

IMUNON expects to report topline results from the OVATION 2 Study in mid-2024 and anticipates patient enrollment in the Phase 1 study for IMNN-101 to commence in the second quarter of 2024. The company believes it has sufficient capital resources to fund its operations to the end of 2024.

Tailwinds

  • Potential for clinically meaningful outcome in advanced ovarian cancer treatment with IMNN-001.
  • IMNN-101 shows promise as an annual COVID-19 booster with long-lasting protection.
  • IMNN-101 has demonstrated continued drug stability at standard refrigerated temperature.
  • Phase 1 study of IMNN-101 is expected to commence patient enrollment in Q2 2024.
  • Sufficient capital resources to fund operations to the end of 2024.

Headwinds

  • Unforeseen changes in research and development activities and in clinical trials.
  • Uncertainties and difficulties in analyzing interim clinical data.
  • Significant expense, time, and risk of failure of conducting clinical trials.
  • Need for IMUNON to evaluate its future development plans.
  • Possible actions by customers, suppliers, competitors, or regulatory authorities.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2024

Historical avgQ1 2024

+0.2%

Avg return

Earnings day

-2.1%

Avg return

5 days after

+3.5%

Avg return

30 days after

32%

12 / 38 earnings

Positive

+28.7%

Q3 2019

Best reaction

-12.8%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026-1.1%-8.8%
Q2 2025-4.8%-10.3%-28.5%
Q1 2025+2.5%-40.0%+107.5%
Q4 2024+1.2%+6.3%+36.2%
Q3 2024-12.8%-17.0%-10.6%
Q2 2024-0.9%+4.6%+1.8%
Q1 2024+7.2%+1.4%-11.6%
Q4 2023+17.1%+25.0%+2.9%
Q3 2023-4.0%-3.0%-9.1%
Q2 2023-3.2%-5.6%-10.4%
Q1 2023-5.2%-6.7%+3.7%
Q4 2022-2.3%-6.2%+0.8%
Q3 2022-3.9%-4.6%-11.1%
Q2 2022-1.6%-11.6%-19.8%
Q1 2022+0.4%-7.5%-23.5%
Q4 2021-4.5%+17.4%-45.3%
Q3 2021+1.2%-10.7%-22.6%
Q2 2021-1.9%-8.4%+0.0%
Q1 2021+4.0%+12.1%+54.5%
Q4 2020-1.3%-22.9%-53.3%
Q3 2020-1.9%-3.7%+24.1%
Q2 2020+0.0%-1.8%-28.4%
Q1 2020-1.5%+26.5%+125.0%
Q4 2019+9.0%-3.4%+31.5%
Q3 2019+28.7%+34.3%+50.0%
Q2 2019+0.0%+7.1%+3.0%
Q1 2019+6.1%-4.2%-15.4%
Q4 2018-2.5%+19.9%+6.5%
Q3 2018-4.2%-12.6%-8.8%
Q2 2018-9.4%-8.7%+2.2%
Q1 2018-1.6%+1.2%+0.0%
Q4 2017-4.3%-11.5%-12.6%
Q3 2017-5.2%-5.7%+32.1%
Q2 2017-1.4%-9.5%-5.4%
Q1 2017+0.0%-8.3%-14.0%
Q4 2016+3.4%-3.4%+3.4%
Q3 2016+0.0%-10.9%-27.2%
Q2 2016+4.2%+10.0%+3.3%
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013
Q4 2012
Q2 2012

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