Transaction Information
Immunic, Inc. (Nasdaq: IMUX), announced the closing of its previously announced public offering of 4,500,000 shares of common stock at a public offering price of $10.00 per share. Immunic received total proceeds from the offering, before deducting the underwriting discounts and other offering expenses, of $45.0 million.
Immunic intends to use the net proceeds of the offering to fund the ongoing clinical development of its three lead product candidates, IMU-838, IMU-935 and IMU-856, and for other general corporate purposes.
The public offering is being made pursuant to an automatic shelf registration statement on Form S-3 with the Securities and Exchange Commission (the "SEC"), which was declared effective on November 24, 2020. The public offering is being made only by means of a prospectus supplement and accompanying prospectus that were filed with the SEC on July 16, 2021.
Ladenburg Thalmann & Co. Inc. acted as co-manager in connection with the offering.
About Immunic, Inc.
Immunic, Inc. (Nasdaq: IMUX) is a clinical-stage biopharmaceutical company with a pipeline of selective oral immunology therapies focused on treating chronic inflammatory and autoimmune diseases. The company is developing three small molecule products: its lead development program, IMU-838, a selective immune modulator that inhibits the intracellular metabolism of activated immune cells by blocking the enzyme DHODH and exhibits a host-based antiviral effect, is currently being developed as a treatment option for multiple sclerosis, ulcerative colitis, Crohn's disease, and primary sclerosing cholangitis. IMU-935, a selective inverse agonist of the transcription factor RORγt, is targeted for development in psoriasis, castration-resistant prostate cancer and Guillain-Barré syndrome. IMU-856, which targets the restoration of the intestinal barrier function, is targeted for development in diseases involving bowel barrier dysfunction.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.