August 13, 2020

Stock News Buzz: Immunic (NASDAQ:IMUX)

Immunic (NASDAQ:IMUX) changed 1.65% to recent value of $8.6. The stock transacted 83229 shares during most recent day however it has an average volume of 88.45K shares. It spotted trading -54.86% off 52-week high price. On the other end, the stock has been noted 105.25% away from the low price over the last 52-weeks.

On May 08, 2020, Immunic (NASDAQ:IMUX) a clinical-stage biopharmaceutical company focused on developing best-in-class, oral therapies for the treatment of chronic inflammatory and autoimmune diseases, released financial results for the first quarter ended March 31, 2020 and highlighted recent activity.

First Quarter 2020 and Subsequent Highlights

  • April 2020: Completed a $15.0 million registered direct offering led by institutional investor, Altium Capital.
  • April 2020: Released that lead asset, IMU-838, has successfully demonstrated preclinical activity against clinical isolates of SARS-CoV-2 associated with COVID-19. As a result, the company is now exploring the feasibility of conducting a prospective, multicenter, randomized, placebo-controlled, double-blind phase 2 clinical trial in patients with moderate COVID-19.
  • April 2020: Reported several changes to the company’s executive team, including the resignation of Chief Financial Officer, Sanjay S. Patel, CFA, and the promotion of Glenn Whaley to the position of Vice President Finance, Principal Financial and Accounting Officer. Additionally, announced that Duane Nash, MD, JD, MBA, current Chairman of the Board of Directors, has temporarily assumed the role of Executive Chairman.
  • January 2020: Exercised option to obtain the exclusive worldwide rights to commercialization of a group of compounds, designated by the company as IMU-856, aimed at restoring intestinal barrier function, from Daiichi Sankyo Co., Ltd.
  • Anticipated Clinical Milestones
  • Top-line data from the phase 2 EMPhASIS trial of IMU-838 in RRMS is expected to be available in the third quarter of 2020.
  • Completion of preclinical and manufacturing activities necessary for initiation of phase 1 clinical studies of IMU-856 are expected during the first half of 2020.
  • The current, single ascending dose part of the ongoing phase 1 trial of IMU-935, being conducted in Australia, is planned to be followed by a multiple ascending dose (MAD) portion in healthy volunteers and a safety evaluation in patients with mild-to-moderate psoriasis as a third part of this phase 1 trial. Based on the temporary pausing of trials in healthy volunteers imposed by Ethics Committees in Australia due to COVID-19, the MAD portion of the trial is expected to start in the second half of 2020.
  • Top-line data from the phase 2, investigator-sponsored proof-of-concept clinical trial for IMU-838 in PSC, being conducted at the Mayo Clinic, is expected to be available in early 2021.

Top-line data from the phase 2 CALDOSE-1 trial in ulcerative colitis (UC) is expected to be available during the fourth quarter of 2021. Its earnings per share (EPS) expected to touch remained 88.40% for this year while earning per share for the next 5-years is expected to reach at 15.50%.

The company has 14.49M of outstanding shares and 12.50M shares were floated in the market. According to the most recent quarter its current ratio was 4.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.91% from the mean of 20 days, 17.42% from mean of 50 days SMA and performed -8.95% from mean of 200 days price. Company’s performance for the week was 13.01%, 41.22% for month and YTD performance remained -11.34%.