Immunic Raises $400M in Oversubscribed Warrant Placement as Shares Soar 20%
Immunic Inc. shares rose 20.1% on Friday as the company closed an oversubscribed private placement raising $400 million at $0.873 per warrant. The funding will advance its Phase 3 ENSURE relapsing multiple sclerosis trial with data due end-2026 and underpin a mid-2027 NDA submission targeting 2028 U.S. approval.
1. Equity Raise Details
Immunic completed an oversubscribed private placement raising up to $400 million through the sale of 229.08 million pre-funded warrants and 229.076 million share purchase warrants at $0.873 each, delivering $200 million in upfront proceeds with the option to raise an additional $200 million upon warrant exercise.
2. Clinical and Regulatory Timeline
The capital infusion will fund the ongoing Phase 3 ENSURE trial in relapsing multiple sclerosis, with topline data anticipated by end-2026, support initiation of a Phase 3 program in primary progressive multiple sclerosis later this year, and underpin a mid-2027 NDA submission targeting potential U.S. approval in 2028.
3. Stock Performance and Outlook
Shares jumped 20.1% to trade above key moving averages on Friday with volume surging to 55.97 million, far exceeding the average of 1.62 million, while analysts maintain buy ratings and resistance and support levels are noted at $1.50 and $1.00 respectively.