Immunic slides on planned equity raise
Shares of biotech firm Immunic IMUX.O down 12% to 80 cents in extended trading as it looks to raise equity
New York -based IMUX announces public offering of pre-funded warrants and warrants to purchase shares; deal not disclosed
Co intends to use net proceeds to fund clinical trials and operations and other general purposes
Co says its lead drug, vidofludimus calcium (IMU-838), currently in phase III trials for treatment of relapsing multiple sclerosis, for which top-line data is expected to be available end of 2026
Multiple sclerosis is a chronic autoimmune disease that affects the central nervous system
Leerink sole bookrunner for proposed offering
With ~95.8 mln shares outstanding as of May 14, per the SEC prospectus filing, giving IMUX ~$87 mln market cap
IMUX shares on Weds rose 2 cents to close at 91 cents. Stock hit 52-week high of $2.11 in Sept
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