Immunic (NASDAQ: IMUX) has announced the closing of an underwritten public offering of 4,500,000 shares of its common stock at a public offering price of $10.00 per share. According to the update, the company received total proceeds of $45 million from the offering, before deducting underwriting discounts and other expenses. Immunic intends to use net proceeds of the offering to fund the ongoing clinical development of its three lead product candidates, IMU-838, IMU-935 and IMU-856, as well as for other general corporate purposes. Roth Capital Partners acted as co-manager for the offering.
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About Immunic Inc.
Immunic 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. For more information, please visit www.IMUX.com.
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