Overview

• Immunic reports Q3 net loss of $25.6 mln, with insufficient cash for 12 months

• R&D expenses decreased by $1.4 mln in Q3 2025 compared to Q3 2024

Outlook

• Company expects top-line data from phase 3 ENSURE trials by end of 2026

• Company preparing further clinical testing of IMU-856, contingent on financing

Result Drivers

• EMPhASIS TRIAL - Long-term phase 2 EMPhASIS data in relapsing-remitting MS showed high rates of patients free of confirmed disability worsening and favorable safety

• PATENT PROTECTION - Received Notice of Allowance from USPTO for patent covering vidofludimus calcium dose strengths, potentially extending U.S. market exclusivity

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Immunic Inc is $4.00, about 81% above its November 12 closing price of $0.76

Press Release: ID:nPn4vXYCga

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)