Immunic Inc SEC Filings

Immunic, Inc. filed its Q3 2025 report, highlighting continued losses and liquidity pressure. The company reported a net loss of $25,579 for the quarter and $77,872 for the nine months ended September 30, 2025. Cash and cash equivalents were $35,132, while net cash used in operating activities reached $66,525 for the nine-month period.

Current liabilities were $30,079 against total stockholders’ equity of $10,499, down from $18,429 at year-end. Management disclosed “substantial doubt” about the company’s ability to continue as a going concern without additional capital. During 2025, Immunic raised $60,661 from a May offering and $4,734 from an April offering to fund operations. The company also received a Nasdaq notice for failure to maintain the $1.00 minimum bid, with a compliance window through December 24, 2025. Immunic continues advancing late-stage oral therapies, including vidofludimus calcium in Phase 3 for relapsing multiple sclerosis.

Immunic, Inc. announced presentations of vidofludimus calcium data at the 41st ECTRIMS congress in Barcelona, held September 24-26, 2025. The company issued a press release dated September 25, 2025, and posted a corporate presentation on its website on September 24, 2025, which includes new data from the Phase 2 CALLIPER trial in progressive multiple sclerosis. The filing lists the press release and the presentation as exhibits and states the report was signed by CEO Daniel Vitt.

Immunic, Inc. is registering 7,000,000 additional shares of common stock for issuance under its 2019 Omnibus Equity Incentive Plan, as amended. On April 20, 2025, the board approved an amendment to the plan, subject to stockholder approval, to raise the total shares authorized for issuance under the plan to 26,448,871. Stockholders approved this amendment on June 4, 2025, and this Form S-8 filing implements that approval.

The newly registered shares are of the same class as those covered by prior Form S-8 registrations and will be issuable to eligible participants in the 2019 plan. Immunic also restates its standard Delaware-law based indemnification and director-and-officer insurance protections for its directors and officers in connection with securities law liabilities.

Alyeska Investment Group, L.P., Alyeska Fund GP, LLC and Anand Parekh report beneficial ownership equal to 9.9% of Immunic, Inc. common stock on a fully‑diluted, exercise‑limited basis. The filing discloses that the reporting persons hold warrants to purchase 11,250,000 shares but, due to exercise limitations in the warrant terms, may only exercise for up to 9,485,936 shares, representing 9.9% of the issuer based on 95,817,536 outstanding shares. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

Nantahala Capital Management, LLC and two individuals report a 9.99% beneficial interest in Immunic, Inc. The filing shows Nantahala, together with Wilmot B. Harkey and Daniel Mack, may be deemed the beneficial owners of 10,634,565 shares of Immunic common stock, representing 9.99% of the class as of June 30, 2025. The amount reported includes shares that may be acquired within 60 days through exercise of warrants. The Reporting Persons disclose shared voting and dispositive power over these shares and identify BLACKWELL PARTNERS LLC - SERIES A as a fund with the right to receive dividends or sale proceeds for more than 5% of the shares reported. The filing certifies the securities were acquired in the ordinary course of business and not for the purpose of changing or influencing control.

Biotechnology Value Fund and related entities reported combined beneficial ownership in Immunic, Inc. As of June 30, 2025 the Reporting Persons and a Partners managed account held 8,580,151 pre-funded warrants exercisable for shares and 13,335,000 new pre-funded warrants accompanied by Series A and Series B warrants. After applicable exercise blockers, BVF beneficially owned 6,268,162 shares (approximately 6.4%), BVF2 owned 3,027,105 shares (approximately 3.2%), Trading Fund OS owned 315,231 shares (0.3%) and certain aggregate entities may be deemed to own between 9.5% and 9.99% of outstanding shares. Series A and B warrants have a $0.75 exercise price; Series A expire December 31, 2025, Series B expire five years from issuance and have conditions tied to a $1.25 VWAP target. Multiple vehicles disclaim ownership of others' holdings; exercise is limited by contractual 9.9%/9.99% blockers.

Avidity-related reporting persons disclosed an aggregate 5,615,811 share position in Immunic, Inc. (IMUX), equal to 5.9% of the outstanding common stock, held with shared voting and dispositive power. The filing shows no reporting person claims sole voting or dispositive authority over these shares. A separate entity, Avidity Private Master Fund I LP, is shown with 4,699,411 shares (4.9%).

The statement explains the reported securities are directly owned by advisory clients of Avidity Partners Management LP and that none of those advisory clients may be deemed to beneficially own more than 5% of the class. The reporting persons include a disclaimer of beneficial ownership except to the extent of pecuniary interest and certify the holdings were not acquired to change or influence control of the issuer.

Adage Capital Management, L.P., together with Robert Atchinson and Phillip Gross, reports beneficial ownership of 10,479,337 shares of Immunic, Inc. (IMUX), representing 9.99% of the outstanding common stock. The filing states this total includes 9,080,737 shares issuable upon exercise of warrants and that the percentage is calculated on an aggregate base of 95,817,536 shares outstanding as reported in the company prospectus.

The reporting persons disclose no sole voting or dispositive power and instead report shared voting and shared dispositive power for the reported shares. The filing also certifies the securities are held in the ordinary course of business and not for the purpose of changing or influencing control.