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IMUX · NASDAQ · Biotechnology

Immunic

Develops oral small-molecule candidates for multiple sclerosis and other inflammatory or autoimmune diseases.

$15.40

After-hours close+0.02 (+0.10%)

At close$15.39(−5.61%)

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Profile

Immunic, Inc.IMUXHealth Care

Its lead candidate, vidofludimus calcium, is in late-stage trials for relapsing MS, alongside earlier gastrointestinal and Nurr1-platform programs. Clinical development is organized across New York and a German R&D base, and depends on clinical results, regulatory review, and future funding.

Built around orally administered small molecules for chronic inflammatory and autoimmune diseases, the pipeline has no approved, marketed medicines. Vidofludimus calcium is the lead candidate, in late-stage ENSURE trials for relapsing multiple sclerosis, with a planned study in primary-progressive MS.

IMU-856 is an earlier gastrointestinal candidate targeting intestinal-barrier function, while IMU-381 is a preclinical Nurr1-platform program for neurologic, gastrointestinal, and other autoimmune diseases. Clinical development is coordinated from New York with R&D near Munich, Germany.

The operating model is shaped by progress in clinical trials, potential regulatory review, capital availability, intellectual-property protection, and competitive products. The current public company has traded on Nasdaq as IMUX since its 2019 successor transaction.

Company facts

CEOErik Lundgren

ListedApr 15, 2019

ExchangeNASDAQ

HeadquartersNew York, NY

CountryUnited States

Employees92

CIK0001280776

ISINUS4525EP2001

Key statistics

Market cap$209.8M

EPS (ttm)−$4.80

P/E (ttm)−3.21

ROE-157.9%

P/B5.13

P/S0.00

Dividend yield—

Beta1.53vs XLV 0.44

Year to date +164% · Average volume (30d) 172.5K

Analysts

Price target, next 12 months$20.50+33.1%Median of 12 analysts · vs the Aug 28 close

ConsensusBuy10 of 12 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $15.40

High$45.00+192.2%

Median$20.50+33.1%

Low$2.50−83.8%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Target
Aug 17, 2026	Wedbush	Initiate		Outperform	$45
May 14, 2026	Roth Capital	Target			$19
Apr 30, 2026	H.C. Wainwright	Target			$22
Apr 16, 2026	Stifel Nicolaus	Target			$2.50
Apr 15, 2026	D. Boral Capital	Downgrade	Buy	Hold

Earnings

EPS

Estimate−$0.98

ReportedDue Nov 12, 2026

Revenue

Estimate—

ReportedDue Nov 12, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 11, 2026Q2 FY26	−$1.16	−$0.80	+31.0%	—	—	—	+9.79%
May 13, 2026Q1 FY26	−$0.71	−$1.08	−52.1%	—	—	—	−2.24%
Feb 26, 2026Q4 FY25	−$0.90	−$1.20	−33.3%	—	—	—	+7.59%
Nov 13, 2025Q3 FY25	−$0.18	−$0.13	+27.8%	—	—	—	+9.26%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$0	$0	$0	$0	$0	$0
Gross profit	$0	$0	$0	$0	−$33.0K	$0
Operating income	−$26.8M	−$27.1M	−$26.0M	−$23.3M	−$33.2M	−$35.3M
Net income	−$25.5M	−$26.8M	−$25.6M	−$19.3M	−$32.6M	−$34.1M
Diluted EPS	−$2.51	−$2.03	−$1.32	−$1.60	−$1.08	−$0.80
Gross margin	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—

Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0

Balance sheet, Jun 30, 2026Cash & short-term investments $155.1M · Total debt $567.0K · Total assets $159.2M · Shareholders' equity $127.6M

Dividends

No dividends on record.

Ownership

Institutions 61.95%8.44M sharesInsiders 3.48%473.9K sharesOther 34.57%4.71M shares

Shares outstanding 13.62M · Float 11.84M · 86.9% free float

A split settled inside the quarter being compared, so quarter-on-quarter change is not shown.

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Laurion Capital Management LP	839.5K	6.06%	13G	Aug 4, 2026
Abrdn PLC	824.4K	6.05%	13F	Jul 31, 2026
BVF Inc/IL	765.3K	5.62%	13F	Aug 14, 2026
OrbiMed Advisors LLC	756.9K	5.30%	13G	Aug 14, 2026
Integrated Core Strategies (US) LLC	743.3K	5.40%	13G	May 6, 2026

Insider tradesForm 4

No open-market trades in the last 12 months.