Immunic, Inc. filings document SEC reporting for a Nasdaq-listed biotechnology company developing oral therapies for neurologic disease. Recent Form 8-K reports cover financial results and corporate updates, Nasdaq minimum bid price compliance, stockholder-approved charter amendments, and the reverse stock split affecting its common stock.
Governance disclosures include director and officer appointments, executive compensation arrangements, special-meeting voting results, and definitive proxy materials. The filings also describe registered common stock, capital-structure changes, financing and clinical-program updates, and formal governance and shareholder voting subjects tied to Immunic's late-stage development model.
Immunic, Inc. is asking stockholders to approve a reverse stock split of its common stock, at a ratio between 1-for-10 and 1-for-30, to be implemented at the board’s discretion within one year of approval. The main goal is to raise the per‑share trading price and help the company regain and maintain compliance with Nasdaq’s $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.
As of the February 20, 2026 record date, Immunic had 130,464,825 shares outstanding and is authorized to issue up to 500,000,000 shares. The reverse split would reduce the number of shares outstanding proportionally but leave percentage ownership and voting power generally unchanged, aside from cash paid in lieu of fractional shares.
The proxy explains that failure to approve the reverse split could increase the risk of Nasdaq delisting, which may hurt liquidity and access to capital. It also notes a February 2026 securities purchase agreement for pre‑funded and common warrants, which requires Immunic to obtain stockholder approval of this reverse split, with a breach risk if approval is not obtained.
IMMUNIC, INC. received an initial ownership report from a group of BVF-affiliated investment funds and Mark N. Lampert, jointly filing a Form 3 as reporting persons. They disclose holdings of common stock as well as multiple series of pre-funded warrants and common warrants tied to Immunic shares.
The reporting persons hold 2024, 2025 and 2026 pre-funded warrants that are immediately exercisable for an aggregate of 8,580,151, 13,335,000 and 53,257,500 shares of common stock, each at an exercise price of $0.0001 per share. These pre-funded warrants do not expire but cannot be exercised if such exercise would push their beneficial ownership above 9.9% or 9.99% of Immunic’s outstanding common stock, as specified for each series.
They also hold common warrants exercisable for an aggregate of 53,257,500 shares of common stock at an exercise price of $0.873220 per share following the issuer’s reverse stock split. These common warrants are exercisable until the earlier of 30 trading days after topline data from Immunic’s Phase 3 ENSURE trials, immediately upon certain exercises of the 2026 pre-funded warrants, or February 17, 2031, and are likewise subject to a 9.99% beneficial ownership cap. Each reporting person disclaims beneficial ownership beyond its pecuniary interest.
IMMUNIC, INC. director Robert Thorvald Nagel filed an initial ownership report on Form 3. This filing establishes his status as an insider of the company and provides the baseline record of his beneficial ownership in IMMUNIC’s securities as required by U.S. securities regulations. No transactions are reported.
Immunic, Inc. reports on its late-stage biotech portfolio and financing position for the year ended December 31, 2025. The company is advancing vidofludimus calcium through two global Phase 3 ENSURE trials in relapsing multiple sclerosis, with 1,121 and 1,100 patients enrolled and top-line data expected by the end of 2026. Phase 2 CALLIPER data in progressive multiple sclerosis and long-term EMPhASIS extension data in relapsing-remitting multiple sclerosis show reduced disability worsening and a favorable safety profile. IMU-856 has shown gut barrier and GLP-1 benefits in a Phase 1b celiac study, and IMU-381 remains in preclinical testing.
Immunic has incurred an accumulated deficit of approximately $608.6 million and held about $15.5 million in cash and cash equivalents as of December 31, 2025, after raising roughly $496.3 million since inception. A February 2026 private placement added approximately $187.0 million of net cash proceeds, which management believes funds operations beyond twelve months. The company also exchanged 51,087,000 Series B warrants for a 5% synthetic royalty on future vidofludimus calcium sales, faces Nasdaq minimum bid price compliance deadlines with a planned reverse stock split, and is initiating a CEO search while refreshing its board leadership.
Immunic, Inc. reported a 2025 net loss of $97.2M, slightly improved from $100.5M in 2024, as operating expenses rose modestly to $103.2M driven mainly by research and development spending of $82.0M.
The company highlighted an oversubscribed private placement of up to $400M in gross proceeds, including $200M already raised, which it expects to fund completion of phase 3 ENSURE trials in relapsing multiple sclerosis, initiate a phase 3 program in primary progressive multiple sclerosis and begin building a commercial organization. Management expects ENSURE top-line data by the end of 2026, a planned RMS NDA submission in the United States in mid-2027, and is targeting a potential regulatory approval date in 2028.
IMMUNIC, Inc. reports that Commodore Capital entities and two managing partners may be deemed to beneficially own 13,350,121 shares of Common Stock as of 02/17/2026.
The holding consists of 11,454,000 shares issuable on exercise of a Pre-Funded Warrant and 1,896,121 shares issuable on exercise of accompanying Common Warrants. A Beneficial Ownership Limitation of 9.99% applies. The filing references 120,284,724 shares outstanding as of 11/11/2025 reported in the issuer's Form 10-Q.
Immunic, Inc. reports a Schedule 13G filing showing 11,454,000 shares beneficially owned by Trails Edge entities and Ortav Yehudai. The filing states this equals 8.7% of the class as of the Event Date February 17, 2026.
Ownership consists of 5,727,000 shares underlying pre-funded warrants and 5,727,000 shares underlying warrants held directly by Trails Edge Biotechnology. The filing cites 120,284,724 shares outstanding as of November 11, 2025 for the percentage calculation.
Immunic, Inc. (IMUX) now has BVF and affiliated funds reporting beneficial ownership of 13,630,601 shares, or about 9.99% of the common stock. The position combines common shares and currently exercisable 2026 pre-funded warrants, subject to 9.99% ownership blockers that limit further warrant exercises.
BVF, BVF2, a Cayman trading fund and a managed account collectively hold large blocks of 2024, 2025 and 2026 pre-funded warrants plus matching Common Warrants, in total covering 53,257,500 shares each of 2026 pre-funded and Common Warrants. On February 12, 2026, they joined a private placement buying 2026 pre-funded warrants and Common Warrants at $0.873120 per unit.
The investors also participated in a Royalty Purchase Agreement under which 51,087,000 Series B warrants were exchanged for a pro rata share of a 5% synthetic royalty on future sales of Immunic’s vidofludimus calcium program. A reverse stock split of at least 10:1 will be put to stockholders, and BVF principal R. Thorvald Nagel has joined Immunic’s board as a Class III director.
Immunic, Inc. is asking shareholders to approve an amendment to effect a reverse stock split of its common stock at a ratio between 1-for-10 and 1-for-30, with the Board to select the final ratio within that range.
The Special Meeting is virtual, record date is February 20, 2026, and the proxy statement shows 130,464,825 shares outstanding as of February 19, 2026. The Board recommends a vote FOR Proposal 1; approval requires a majority of votes cast.
Immunic, Inc. ownership disclosure: Vivo Opportunity entities report beneficial ownership of convertible securities representing up to 29,126,906 shares (Vivo Opportunity Fund Holdings, L.P. and Vivo Opportunity, LLC) and 2,942,094 shares (Vivo Opportunity Cayman entities), each reported as 9.99% based on February 19, 2026.
The totals reflect an aggregate of pre-funded warrants and warrants exercisable into common stock within 60 days, but those instruments contain provisions preventing exercises that would exceed 9.99% ownership.