IMUNON rises on plan to shift resources to ovarian cancer therapy

Shares of biotech firm IMUNON IMNN.O rise 2% to $3.17

Co says it will cut jobs and reduce expenses to shift more resources toward its late-stage study testing IMNN‑001 for ovarian cancer

Ovarian cancer is often detected late; co’s experimental therapy aims to boost the body’s immune response at the tumor site - IMNN

Co says its late-stage trial is enrolling patients ahead of schedule

Recent mid-stage data showed IMNN‑001 plus standard chemo helped patients live a median 13 months longer than chemo alone, per co

Co says chief scientific officer, Khursheed Anwer, will retire Feb. 20

Shares up ~93% in 2025