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Immunic, Inc. Announces Pricing of $25 Million Public Offering of Common Stock
NEW YORK, June 10, 2020 /PRNewswire/ -- Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company focused on developing best-in-class, oral
About this update from Immunic, Inc.
[{"type":"text","content":"NEW YORK, June 10, 2020 /PRNewswire/ -- Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company focused on developing best-in-class, oral therapies for the treatment of chronic inflammatory and autoimmune diseases, today announced the pricing of its previously announced public offering for the offering of 2,175,000 shares of common stock of the Company at a price to the public of $11.40 per share, for aggregate gross proceeds to the Company of approximately $25 million, before deducting the fees and estimated offering expenses payable by the Company. The offering is expected to close on or about June 12, 2020, subject to customary closing conditions.\nImmunic intends to use the proceeds from the offering to fund the ongoing clinical development of the Company's three small molecule products: IMU-838, IMU-935 and IMU-856, and for other general corporate purposes, including to investigate IMU-838, the Company's lead asset, as a potential oral treatment option for COVID-19.\nRoth Capital Partners and Ladenburg Thalmann acted as placement agents in connection with the offering.\nThe shares of common stock were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-225230), which was declared effective by the United States Securities and Exchange Commission (SEC) on June 13, 2018.\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the shares of common stock will be filed by Immunic with the SEC. When available, copies of the prospectus supplement, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Roth Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147\nAbout Immunic, Inc.\nImmunic, Inc. (Nasdaq: IMUX) is a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, including relapsing-remitting multiple sclerosis, ulcerative colitis, Crohn's disease, and psoriasis. The company is developing three small mole...