Nasdaq panel grants Imunon listing compliance exception; equity plan expanded by 2M shares

Imunon, Inc.

• Nasdaq Hearing Panel granted Imunon an exception to regain compliance with minimum bid price ($1.00) and stockholders' equity ($5M) requirements.
• Company had previously received delisting determination for not meeting minimum bid price and equity requirements.
• Imunon must promptly notify Panel of significant events; no assurance of regaining compliance.
• Stockholders approved amendment to 2018 Stock Incentive Plan, increasing shares by 2,000,000 to total 3,970,000 shares.
• If delisted, stock could suffer material decline and impair capital raising.