STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

SUMMARY OF STOCK OPTIONS

A summary of stock option awards as of December 31, 2023 and changes during the two-year period ended December 31, 2023 is presented below:

Stock Options	Number Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at January 1, 2022		441,425		$	38.50
Options granted		716,156		$	2.72
Options canceled or expired		(397,361	)	$	39.06
Outstanding at December 31, 2022		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		8.8	$	–
Exercisable at December 31, 2023		453,766		$	3.64		8.5	$	–

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, 2023 and changes during the two-year period ended December 31, 2023, is presented below:

Restricted Stock	Number Outstanding			Weighted Average Grant Date Fair Value
Non-vested stock awards outstanding at January 1, 2022		1,481		$	12.36
Granted		69,650		$	1.92
Vested and issued		(1,381	)	$	12.04
Forfeited		(100	)	$	9.45
Non-vested stock awards outstanding at December 31, 2022		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

SUMMARY OF STOCK OPTIONS OUTSTANDING

A summary of stock options outstanding at December 31, 2023 by price range is as follows:

			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 $1.95		689,113		9.1	$	1.74		315,867		8.8	$	1.71
$1.96 to $10.00		347,975		8.4	$	3.27		113,936		8.2	$	4.63
Above $10.01		26,394		6.3	$	23.69		23,963		6.1	$	24.29
		1,063,482						453,766

SCHEDULE OF ASSUMPTIONS USED TO DETERMINE FAIR VALUE OF OPTIONS GRANTED

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,
	2023			2022
Risk-free interest rate		3.39% to 4.81	%		1.74 % to 3.97	%
Expected volatility		100.0% to 113.6	%		100.0% to 113.9	%
Expected life (in years)		7.5 to 10.0			7.5 to 10.0
Expected dividend yield		0.0	%		0.0	%