Immunic Q1 net loss widens on higher R&D spends

Overview

• US biotechnology firm's Q1 net loss widened to $32.6 mln, or $1.08 per share

• Company raised $200 mln in private placement, boosting cash to $186.6 mln

Outlook

• Immunic expects to fund operations into late 2027 with current cash position

Result Drivers

• R&D SPENDING - Higher research and development expenses driven by increased external development costs for vidofludimus calcium and personnel expenses

• G&A EXPENSES - General and administrative expenses rose due to higher personnel and non-cash stock compensation costs

• OTHER INCOME - Other income decreased due to absence of grant income recognized in the prior year

Company press release: ID:nPn93X3W6a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Immunic Inc is $48.00, about 303.4% above its May 12 closing price of $11.90

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