Immunic Inc Stock Price, News & Analysis

Immunic, Inc. (Nasdaq: IMUX) recently announced the appointment of Richard Rudick, M.D. to its Board of Directors, effective April 26, 2023. Dr. Rudick is a renowned expert in multiple sclerosis, boasting decades of experience in academia and the pharmaceutical industry.

The board also confirmed the departure of Vincent Ossipow, Ph.D., effective June 28, 2023. Dr. Rudick’s extensive background includes leadership roles at Biogen and the Cleveland Clinic, where he contributed significantly to clinical research and care for multiple sclerosis patients. His expertise is anticipated to enhance Immunic's clinical development, particularly for vidofludimus calcium, currently in phase 3 trials.

Immunic, Inc. (Nasdaq: IMUX), a biotechnology firm focusing on orally administered therapies for chronic inflammatory diseases, will participate in several investor and scientific conferences in May 2023. Key events include:

• Aegis Virtual Conference: CEO Daniel Vitt will present on May 4 at 11:00 am ET.
• ISIRV-AVG Conference: CSO Hella Kohlhof will discuss preclinical data on DHODH inhibitors on May 3.
• European Congress of Virology: Dr. Alexandra Herrmann will present DHODH inhibitor data on May 5.
• Digestive Disease Week: Dr. Franziska Buriánek will discuss phase 1 data of IMU-856 on May 6.
• Bio€quity Europe: CEO will present on May 15.
• XXII National Congress of Neurology: Dr. Sonya Ivanova will present EMPhASIS trial results on May 21.

For more information, visit Immunic's website.

Immunic, Inc. (NASDAQ: IMUX) announced positive results from the 50-week maintenance phase of its CALDOSE-1 trial for vidofludimus calcium (IMU-838) in patients with moderate-to-severe ulcerative colitis. The 30 mg dose showed a statistically significant clinical remission rate of 61.5% versus 27.8% for the placebo (p=0.0358) and an endoscopic healing rate of 73.1% compared to 35.3% for placebo (p=0.0259). As a result, Immunic will concentrate resources on vidofludimus calcium and the IMU-856 programs while deprioritizing the izumerogant (IMU-935) program. Initial data for IMU-856 is expected this quarter.

On March 2, 2023, Immunic (Nasdaq: IMUX) announced its participation in several key investor and scientific conferences throughout March. Notable events include the BioCapital Europe conference on March 9 in Amsterdam where CEO Daniel Vitt will present at 3:20 PM CET. Additionally, the company will attend the 2023 American Academy of Dermatology Annual Meeting from March 17-21 in New Orleans, and the 32nd Annual Meeting of the Society for Virology from March 28-31 in Germany, featuring multiple poster presentations by its preclinical team.

Immunic, Inc. (NASDAQ: IMUX) reported a net loss of approximately $120.4 million for the year ending December 31, 2022, compared to a loss of $92.9 million in 2021. Their cash position stood at $116.4 million, expected to sustain operations into Q4 2024. Key developments include upcoming interim results from the Phase 2 CALLIPER trial for vidofludimus calcium in progressive MS and results from the ongoing Phase 1 trial of IMU-856 for celiac disease, both anticipated mid-2023. R&D expenses rose to $71.3 million, with significant costs related to ongoing clinical programs. An impairment of goodwill totaling $33 million was also recorded due to a stock price decline following trial announcements.