NEW YORK, July 14, 2021 /PRNewswire/ -- Immunic, Inc.
(the "Company") (Nasdaq: IMUX), a clinical-stage biopharmaceutical
company developing a pipeline of selective oral immunology
therapies focused on treating chronic inflammatory and autoimmune
diseases, today announced that it intends to offer and sell shares
of its common stock in an underwritten public offering. All the
shares to be sold in the offering will be offered by the Company.
The offering is subject to market and other conditions and there
can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering. In
addition, the Company intends to grant the underwriters a 30-day
option to purchase up to an additional 15% percent of shares of its
common stock offered in the public offering.
Piper Sandler is acting as sole
book-runner for the offering.
The Company intends to use the net proceeds of the offering to
fund the ongoing clinical development of its three lead product
candidates, IMU-838, IMU-935 and IMU-856, and for other general
corporate purposes.
The securities described above are being offered by the Company
pursuant to an effective shelf registration statement on Form S-3
(File No. 333-250083) previously filed with the Securities and
Exchange Commission ("SEC") on November 13,
2020, which registration statement was declared effective on
November 24, 2020. The securities
will be offered by means of a prospectus supplement and
accompanying prospectus relating to the offering that form a part
of the registration statement. A preliminary prospectus supplement
and accompanying prospectus relating to and describing the terms of
the offering will be filed with the SEC and will be available on
the SEC's website at www.sec.gov. Copies of the preliminary
prospectus supplement and accompanying prospectus relating to the
offering may also be obtained, when available, from Piper Sandler & Co., 800 Nicollet Mall,
J12S03, Minneapolis, MN 55402, or
by email at prospectus@psc.com, or by telephone at (800)
747-3924.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Immunic, Inc.
Immunic, Inc. (Nasdaq: IMUX) 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 further information, please visit:
www.imux.com.
Forward Looking Statements
This press release
contains "forward-looking statements" that involve substantial
risks and uncertainties for purposes of the safe harbor provided by
the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact, included in
this press release regarding the proposed offering, the expected
size of the proposed offering, the expected size of the
underwriters' option with respect to the proposed offering, the
satisfaction of the customary closing conditions of the offering,
the completion of the contemplated offering, strategy, future
operations, future financial position, future revenue, projected
expenses, prospects, plans and objectives of management, including
in relation to Immunic's development programs, are forward-looking
statements. Immunic may not actually achieve the plans, carry out
the intentions or meet the expectations or projections disclosed in
the forward-looking statements and you should not place undue
reliance on these forward-looking statements. Such statements are
based on management's current expectations and involve risks and
uncertainties. Actual results and performance could differ
materially from those projected in the forward-looking statements
as a result of many factors, including those set forth in the
sections captioned "Risk Factors" in Immunic's Annual Report on
Form 10-K for the fiscal year ended December
31, 2020, subsequent Quarterly Reports on Form 10-Q, and
other filings with the Securities and Exchange Commission. Copies
of these filings are available online at www.sec.gov or
ir.imux.com/sec-filings. Any forward-looking statement made in this
press release speaks only as of the date of this press release.
Immunic disclaims any intent or obligation to update these
forward-looking statements to reflect events or circumstances that
exist after the date on which they were made.
Contact Information
Immunic, Inc.
Jessica
Breu
Head of Investor Relations and Communications
+49 89 2080 477 09
jessica.breu@imux.com
Or
Rx Communications Group
Paula Schwartz
+1-917-322-2216
immunic@rxir.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/immunic-inc-announces-proposed-public-offering-of-common-stock-301334124.html
SOURCE Immunic, Inc.