Immunic jumps as biotech raises up to $400 million for MS drug trials
Shares of biotech firm Immunic IMUX.O rise 32% to $1.15 premarket
Co says it is raising up to $400 mln to fund late-stage testing of vidofludimus calcium, its experimental pill for multiple sclerosis
Multiple sclerosis is a progressive disease where the immune system attacks the brain and spinal cord, resulting in symptoms such as impairment of speech and muscle coordination
Private placement priced at the market, with financing led by existing investor BVF Partners, along with Aberdeen Investments, Janus Henderson Investors, OrbiMed, among others -co
Co says the deal includes $200 mln upfront plus another $200 mln in issue of warrants
Co expects data on relapsing MS study in 2026, U.S. filing in 2027 and potential launch in 2028 - IMUX
IMUX to also begin search for new CEO with deep commercial expertise in the MS space, with co-founder and CEO Daniel Vitt planning to transition to new senior executive role
Shares slumped ~47% in 2025
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