Immunic, Inc. Announces Closing of Oversubscribed $65 Million Underwritten Public Offering

Core Viewpoint - Immunic, Inc. has successfully closed an underwritten public offering, raising approximately $65 million, with potential additional proceeds of up to $130 million from the exercise of warrants [1][3]. Group 1: Offering Details - The offering included pre-funded warrants, Series A warrants, and Series B warrants, with the Pre-Funded Warrants being immediately exercisable [1][2]. - Series A Warrants can be exercised until December 31, 2025, while Series B Warrants can be exercised starting October 1, 2025, until June 3, 2030 [2]. - The Series A and B Warrants will expire proportionally if the corresponding Pre-Funded Warrants are exercised before September 30, 2025 [2]. Group 2: Financial Aspects - The initial proceeds from the offering were approximately $65 million, before deducting underwriting discounts and commissions [3]. - The company may receive up to an aggregate of $130 million in additional proceeds if the Series A and Series B Warrants are fully exercised for cash [3]. Group 3: Use of Proceeds - The net proceeds from the offering will be used to fund clinical trials, operations, and other general corporate purposes [5]. Group 4: Company Overview - Immunic, Inc. is focused on developing orally administered small molecule therapies for chronic inflammatory and autoimmune diseases [6]. - The lead development program, vidofludimus calcium (IMU-838), is in phase 3 clinical trials for relapsing multiple sclerosis, with top-line data expected by the end of 2026 [6]. - Other programs include IMU-856, targeting gastrointestinal diseases, and IMU-381, which is in preclinical testing [6].