Immunic Announces Closing of Oversubscribed Private Placement Financing
MWN-AI** Summary
Immunic, Inc. (NASDAQ: IMUX), a late-stage biotechnology firm focused on developing innovative oral therapies for neurological and gastrointestinal diseases, has successfully closed an oversubscribed private placement financing, generating upfront proceeds of $200 million. This financing was primarily led by BVF Partners L.P. and supported by various institutional investors, including Aberdeen Investments and OrbiMed. The financing agreement consists of pre-funded warrants for 229,076,000 shares of common stock priced at $0.873 per warrant, with the potential for an additional $200 million through issued warrants.
The funds raised will be utilized to accelerate the completion of the Phase 3 ENSURE trials for treating relapsing multiple sclerosis and kick-start a Phase 3 trial for primary progressive multiple sclerosis. Immunic also intends to use the proceeds for operational enhancements as it transitions toward commercializing its therapeutics. The project marks a significant milestone for Immunic’s lead candidate, vidofludimus calcium (IMU-838), which has demonstrated therapeutic potential in earlier trials.
Leerink Partners served as the lead placement agent for the financing, with additional participation from several other financial institutions including Stifel and William Blair. It's important to note that the securities issued in this private placement are unregistered, following the Securities Act of 1933, and cannot be sold or offered in the U.S. without proper registration or an exemption.
Immunic's progress reflects a robust pipeline targeting complex diseases, with a strategic focus on maximizing its clinical opportunities in both the neurological and gastrointestinal sectors. As the company heads into 2027, it is optimistic about its cash reserves and operational capabilities to bring its innovative therapies to market.
MWN-AI** Analysis
Immunic, Inc. (Nasdaq: IMUX) has recently announced the successful closing of an oversubscribed private placement financing, securing $200 million upfront, with prospects for an additional $200 million through warrants. This financing round exemplifies robust institutional interest and underscores the market's confidence in Immunic's developmental pipeline, particularly its lead program, vidofludimus calcium, which is currently in Phase 3 trials for relapsing multiple sclerosis (MS).
Given the substantial capital raised, investors can expect Immunic to fund significant clinical trials, including the expected initiation of a Phase 3 trial in Primary Progressive Multiple Sclerosis (PPMS). The ability to transition into a commercial organization positions Immunic strategically within the burgeoning neurology sector, where demand for effective therapies remains high.
From a market perspective, the completion of this financing aligns with the promising therapeutic profile of vidofludimus calcium, a first-in-class Nurr1 activator, which has demonstrated efficacy in earlier trials. If the upcoming Phase 3 results yield positive outcomes, Immunic could experience a notable increase in its stock value, driven by potential market entry for its innovative treatment options.
However, it is crucial to note possible risks, including reliance on the successful execution of clinical trials and regulatory approvals. Additionally, external factors like macroeconomic trends, inflation, and geopolitical tensions may impact the company's operational and cash management strategies.
Investors should closely monitor clinical milestones and regulatory developments. The upcoming data release from the Phase 3 ENSURE trials will be pivotal. A strong performance could catalyze significant investor interest, while disappointing results could trigger volatility. Therefore, those considering buying into Immunic should weigh these factors carefully, recognizing the inherent risks associated with biotechnology investments, while also factoring in the exciting growth potential the company currently presents.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
– Upfront Proceeds of USD 200 Million, with Potential for up to USD 200 Million in Additional Proceeds –
– Expected to Fund Completion of Phase 3 ENSURE Trials in Relapsing Multiple Sclerosis, Initiation of Phase 3 Trial in Primary Progressive Multiple Sclerosis, and Begin of Transition Into a Commercial Organization –
NEW YORK, Feb. 17, 2026 /PRNewswire/ -- Immunic, Inc. (Nasdaq: IMUX), a late-stage biotechnology company pioneering the development of novel oral therapies for neurologic and gastrointestinal diseases, today announced the closing of its previously disclosed private placement financing.
The financing was led by BVF Partners L.P. and included participation from Aberdeen Investments, Avidity Partners, Coastlands Capital, EcoR1 Capital, Janus Henderson Investors, OrbiMed, RA Capital Management, TCGX, Trails Edge Capital Partners, Vivo Capital, Woodline Partners LP, and other institutional investors.
As previously disclosed, Immunic entered into a securities purchase agreement with select accredited investors for up to USD 400 million in gross proceeds through a private placement. Pursuant to the terms of the purchase agreement, the company issued an aggregate of 229,076,000 pre-funded warrants to purchase shares of the company's common stock at a price of $0.873 per pre-funded warrant, for upfront gross proceeds of USD 200 million. In addition, the company issued warrants to purchase up to an aggregate of 229,076,000 shares of the company's common stock (or pre-funded warrants in lieu thereof) at an exercise price of $0.873 per share, for up to an additional USD 200 million in gross proceeds to Immunic. These warrants will expire upon the earlier of (a) 30 days after the public announcement of top-line data from the phase 3 ENSURE trials or (b) February 17, 2031.
Immunic intends to use the net proceeds from the offering to fund its clinical trials and operations and for other general corporate purposes. The upfront proceeds from this private placement, combined with current cash, cash equivalents and marketable securities, are expected to fund operating and capital expenditures into late 2027.
Leerink Partners acted as lead placement agent in connection with the financing. Stifel, Guggenheim Securities, William Blair, LifeSci Capital, B. Riley Securities and Brookline Capital Markets, a division of Arcadia Securities, LLC, also acted as placement agents in connection with the financing.
The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended (the Securities Act), or applicable state securities laws and accordingly may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the SEC) or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
About Immunic, Inc.
Immunic, Inc. (Nasdaq: IMUX) is a late-stage biotechnology company pioneering the development of novel oral therapies for neurologic and gastrointestinal diseases. The company's lead development program, vidofludimus calcium (IMU-838), is currently in phase 3 clinical trials for the treatment of relapsing multiple sclerosis, for which top-line data is expected to be available by the end of 2026. It has already shown therapeutic activity in phase 2 clinical trials in patients suffering from relapsing-remitting multiple sclerosis and progressive multiple sclerosis. Vidofludimus calcium combines neuroprotective effects, through its mechanism as a first-in-class nuclear receptor-related 1 (Nurr1) activator, with additional anti-inflammatory and anti-viral effects, by selectively inhibiting the enzyme dihydroorotate dehydrogenase (DHODH). IMU-856, which targets the protein Sirtuin 6 (SIRT6), is intended to restore intestinal barrier function and regenerate bowel epithelium, which could potentially be applicable in numerous gastrointestinal diseases, such as celiac disease as well as inflammatory bowel disease, Graft-versus-Host-Disease and weight management. IMU-381, which currently is in preclinical testing, is a next generation molecule being developed to specifically address the needs of gastrointestinal diseases. For further information, please visit: www.imux.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, sufficiency of cash and cash runway, expected timing, development and results of clinical trials, prospects, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to consummation of the proposed offering and the exercise of warrants to be issued in the offering, Immunic's development programs and the targeted diseases; the potential for vidofludimus calcium to safely and effectively target diseases; preclinical and clinical data for vidofludimus calcium; the feasibility of advancing vidofludimus calcium to a confirmatory phase 3 clinical trial in progressive multiple sclerosis; the timing of current and future clinical trials and anticipated clinical milestones; the nature, strategy and focus of the company and further updates with respect thereto; and the development and commercial potential of any product candidates of the company. Immunic may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Such statements are based on management's current expectations and involve substantial risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, increasing inflation, tariffs and macroeconomics trends, impacts of the Ukraine – Russia conflict and the conflict in the Middle East on planned and ongoing clinical trials, risks and uncertainties associated with the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient financial and other resources to meet business objectives and operational requirements, the fact that the results of earlier preclinical studies and clinical trials may not be predictive of future clinical trial results, any changes to the size of the target markets for the company's products or product candidates, the protection and market exclusivity provided by Immunic's intellectual property, risks related to the drug development and the regulatory approval process, the impact of competitive products and technological changes, and the risk that warrants issued in this offering will not be exercised for cash in the future. A further list and descriptions of these risks, uncertainties and other factors can be found in the section captioned "Risk Factors," in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 31, 2025, and in the company's subsequent filings with the SEC. Copies of these filings are available online at www.sec.gov or ir.imux.com/sec-filings. Any forward-looking statement made in this release speaks only as of the date of this release. Immunic disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made. Immunic expressly disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this press release.
Contact Information
Immunic, Inc.
Jessica Breu
Vice President Investor Relations and Communications
+49 89 2080 477 09
[email protected]
US IR Contact
Rx Communications Group
Paula Schwartz
+1 917 633 7790
[email protected]
US Media Contact
KCSA Strategic Communications
Caitlin Kasunich
+1 212 896 1241
[email protected]
SOURCE Immunic, Inc.
FAQ**
How does the successful completion of the private placement financing impact the clinical trial timeline for Immunic Inc. (IMUX), specifically regarding the Phase 3 ENSURE trials in Relapsing Multiple Sclerosis?
What are the anticipated milestones for Immunic Inc. (IMUX) in the transition to a commercial organization, particularly with regards to new funding and resources?
Can Immunic Inc. (IMUX) provide more details on its financial strategy, especially concerning the potential additional $200 million in proceeds expected from the warrants issued in the recent financing?
How does Immunic Inc. (IMUX) plan to utilize the net proceeds from the private placement to support its development programs for vidofludimus calcium and IMU-856 in the context of ongoing clinical trials?
**MWN-AI FAQ is based on asking OpenAI questions about Immunic Inc. (NASDAQ: IMUX).
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