Business
Immunic, Inc. Reports Third Quarter 2020 Financial Results and Provides Corporate Update
- Released Very Positive Phase 2 Data for IMU-838 in Relapsing-Remitting Multiple Sclerosis; Company to Submit End-of-Phase 2 Meeting Requests to Regulatory
About this update from Immunic, Inc.
[{"type":"text","content":"- Released Very Positive Phase 2 Data for IMU-838 in Relapsing-Remitting Multiple Sclerosis; Company to Submit End-of-Phase 2 Meeting Requests to Regulatory Authorities at the End of Q1 2021 -\n - 200 Patients Randomized in Phase 2 Trial of IMU-838 for the Treatment of Moderate COVID-19; Top-Line Data From Main Phase 2 Efficacy Analysis Expected in Q1 2021 -\n - Readout of 18 Patients From Phase 2, Investigator-Sponsored Proof-of-Concept Clinical Trial of IMU-838 in Primary Sclerosing Cholangitis, Being Conducted at the Mayo Clinic, Expected During Q4 2020 -\n - With Approximately $133 Million in Cash and Cash Equivalents, Immunic is Funded Through Key Value Inflection Points into the Second Half of 2022 -\n\n\nNEW YORK, Nov. 5, 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 financial results for the third quarter ended September 30, 2020 and provides corporate update.\n\"The third quarter was marked by a significant achievement for our lead asset, selective oral DHODH inhibitor, IMU-838, with the release of top-line data from our phase 2 EMPhASIS trial in patients with relapsing-remitting multiple sclerosis, and subsequent publication of the full unblinded data set. IMU-838 demonstrated robust efficacy, through the achievement of all primary and key secondary endpoints, combined with an outstanding safety and tolerability profile. We believe that the phase 2 results emphasize the game-changing potential of IMU-838 as a once-daily oral therapy for this indication,\" stated Daniel Vitt, Ph.D., Chief Executive Officer and President of Immunic. \"On the heels of this overwhelmingly positive data, we completed a successful common stock offering, raising $103.5 million in gross proceeds, significantly bolstering our balance sheet. We are currently preparing our end-of-phase 2 submission for IMU-838 in relapsing-remitting multiple sclerosis to regulatory authorities, anticipated in the first quarter of next year, after which we look forward to scheduling our end-of-phase 2 meetings, during which we will have the opportunity to discuss our plans for a phase 3 program.\"\nDr. Vitt continued, \"We have also made notable strides in our development of IMU...