NEW YORK, July 19, 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, announced the closing of an underwritten public offering
of 4,500,000 shares of its common stock at a public offering price
of $10.00 per share.
The Company received total proceeds from the offering, before
deducting the underwriting discounts and other offering expenses,
of $45.0 million.
Piper Sandler acted as sole
book-runner for the offering. Ladenburg Thalmann & Co. Inc.,
Roth Capital Partners and Aegis Capital Corp. acted 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 were offered by the Company
pursuant to a shelf registration statement filed by the Company
with the Securities and Exchange Commission ("SEC"), which was
declared effective on November 24,
2020. A final prospectus supplement and accompanying
prospectus related to the offering were filed with the SEC on
July 16, 2021 and are available for
free on the SEC's website at www.sec.gov. Copies of the final
prospectus supplement and accompanying prospectus related to the
offering may be obtained 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 does 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.
Cautionary Statement Regarding 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 offering, including the anticipated use of the net
proceeds from the 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 SEC. 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.