Business
Immunic, Inc. Announces Pricing of $90.0 Million Public Offering of Common Stock
NEW YORK, Aug. 4, 2020 /PRNewswire/ -- Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company developing a pipeline of selective oral
About this update from Immunic, Inc.
[{"type":"text","content":"NEW YORK, Aug. 4, 2020 /PRNewswire/ -- Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, today announced the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $18.00 per share. The proceeds of the offering to the Company are expected to be $90.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock at the public offering price, less underwriting discounts and commissions.\nThe closing of the offering is expected to occur on or about August 7, 2020, subject to the satisfaction of customary closing conditions.\nSVB Leerink is acting as sole bookrunning manager for the offering. Wedbush PacGrow and Ladenburg Thalmann are acting as co-managers for the offering.\nThe 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, including to investigate IMU-838 in a potential phase 3 program in relapsing-remitting multiple sclerosis, and for other general corporate purposes.\nThe securities described above are being offered by Immunic, Inc. pursuant to a shelf registration statement filed by Immunic, Inc. with the Securities and Exchange Commission (SEC), which was declared effective on June 13, 2018. A preliminary prospectus supplement and accompanying prospectus related to the offering was filed with the SEC on August 4, 2020 and is available for free on the SEC's website at www.sec.gov. \nThe final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and also will be available on the SEC's website. Before investing in the offering, you should read each of the prospectus supplement and the 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 the accompanying prospectus relating to the offering, which provide more information about the...