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Immunic Inc. (IMUX-7.21%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details Immunic's focus on developing a clinical pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases. The company is advancing its lead program, vidofludimus calcium, through Phase 3 and Phase 2 clinical trials for multiple sclerosis.
Immunic reported a net loss of $100.5 million for the year, compared to a net loss of $93.6 million in the previous year. The increase in net loss is attributed to ongoing research and development activities.
Research and development expenses were $80.0 million, a decrease from $83.2 million in the prior year. The decrease was due to reduced spending on the izumerogant program and IMU-856, offset by increased costs for vidofludimus calcium clinical trials.
General and administrative expenses increased to $18.0 million from $16.0 million, driven by higher personnel costs and stock-based compensation.
The company raised $80 million in a private placement in January 2024 and plans to use these funds to continue developing its lead product candidates.
As of December 31, 2024, Immunic had cash and cash equivalents of $35.7 million. The company acknowledges that additional capital will be required to fund operations beyond the next twelve months.
Immunic's pipeline includes the IMU-856 program, targeting gastrointestinal diseases, and the IMU-381 program, focused on gastrointestinal disease needs.
The company faces significant risks, including the need for additional funding, potential delays in clinical trials, and regulatory approval challenges.
Immunic's stock is listed on the Nasdaq Global Select Market under the symbol 'IMUX'.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Immunic Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.