NEW YORK, July 15, 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 the pricing of an underwritten public
offering of 4,500,000 shares of its common stock at a public
offering price of $10 per share. The
gross proceeds of the offering to the Company are expected to be
approximately $45 million, before
deducting underwriting discounts and commissions and other
estimated offering expenses. In addition, the Company granted the
underwriters a 30-day option to purchase up to an additional
675,000 shares of its common stock at the public offering
price.
The closing of the offering is expected to occur on or about
July 19, 2021, subject to the
satisfaction of customary closing conditions.
Piper Sandler is acting as sole
book-runner for the offering. Ladenburg Thalmann & Co. Inc.,
Roth Capital Partners and Aegis Capital Corp. are acting as
co-managers 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.
A preliminary prospectus supplement relating to the offering was
filed with the SEC on July 14, 2021
and is available on the SEC's website at www.sec.gov. The final
prospectus supplement relating to and describing the terms of the
offering will be filed with the SEC and will be available on the
SEC's website. Before investing in the offering, you should read
each of the prospectus supplement and accompanying prospectus
relating to the offering in their entirety as well as the other
documents that the Company has filed with the SEC that are
incorporated by reference in the prospectus supplement and
accompanying prospectus relating to the offering, which provide
more information about the Company and the offering. Copies of the
final 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
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SOURCE Immunic, Inc.