Immunic(US:IMUX)2025-11-13 12:26Financial Performance - Net loss for Q3 2025 was approximately $25.6 million, or $0.13 per share, compared to a net loss of approximately $24.4 million, or $0.24 per share, in Q3 2024[11]. - The net loss for Q3 2025 was $25,579,000, compared to a net loss of $24,368,000 in Q3 2024, indicating a 5% increase in losses year-over-year[15]. - Other Income for the nine months ended September 30, 2025, was $1.2 million, compared to a loss of $1.1 million for the same period in 2024[8]. - Interest Income for Q3 2025 was $0.4 million, a decrease from $0.8 million in Q3 2024, primarily due to a lower average cash balance[6]. - The company reported interest income of $419,000 for Q3 2025, down from $776,000 in Q3 2024, a decrease of 46%[15]. Cash and Liquidity - Cash and Cash Equivalents as of September 30, 2025, were $35.1 million, insufficient to fund operations for at least 12 months without raising additional capital[11]. - Cash and cash equivalents as of September 30, 2025, were $35,132,000, slightly down from $35,668,000 as of December 31, 2024[17]. - Total current liabilities increased to $30,079,000 as of September 30, 2025, from $22,175,000 as of December 31, 2024, marking a 35% increase[17]. Research and Development - Vidofludimus calcium demonstrated statistically significant 24-week confirmed disability improvement in progressive multiple sclerosis, with consistent signals for slowing disability progression across subgroups[2]. - Long-term data from the phase 2 EMPhASIS trial showed a cumulative exposure of approximately 952 treatment years with an annualized discontinuation rate of only ~6.4%[5]. - Research and development expenses for the nine months ended September 30, 2025, were $62,914,000, up from $58,429,000 in the same period of 2024, representing a 7% increase[15]. - Research and Development (R&D) expenses for Q3 2025 were $20.0 million, a decrease of $1.4 million compared to Q3 2024[6]. Operating Expenses - General and Administrative (G&A) expenses for Q3 2025 were $6.0 million, an increase of $1.6 million compared to Q3 2024[6]. - Total operating expenses for Q3 2025 were $25,993,000, compared to $25,726,000 in Q3 2024, reflecting a slight increase of 1%[15]. Assets and Deficits - The accumulated deficit as of September 30, 2025, was $589,271,000, compared to $511,399,000 at the end of 2024, reflecting a 15% increase[17]. - Total assets as of September 30, 2025, were $40,704,000, slightly down from $40,868,000 as of December 31, 2024[17]. - The weighted-average common shares outstanding for Q3 2025 were 193,897,764, compared to 101,272,580 in Q3 2024[15]. Future Outlook - Top-line data from the twin phase 3 ENSURE trials of vidofludimus calcium in relapsing multiple sclerosis is expected by the end of 2026[7]. - The company received a Notice of Allowance for a key patent covering dose strengths of vidofludimus calcium, expected to provide protection into 2041[3]. - The company has not provided specific guidance for future revenue or operational milestones in the current release[12].