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IMUX

Immunic, Inc.

IMUX

Immunic, Inc. • NASDAQ
$0.71 ▲ 1.55% (+0.01)
Market Cap $70.25 M
52w High $1.42
52w Low $0.56
Dividend Yield 0%
P/E -0.89
Volume 678.78K
Outstanding Shares 98.69M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $25.993M ▼ $-25.579M ▲ 0% $-0.13 ▲ $-25.579M ▲
Q2-2025 $0 $27.083M ▲ $-26.82M ▼ 0% $-0.2 ▲ $-27.04M ▼
Q1-2025 $0 $26.825M ▲ $-25.473M ▼ 0% $-0.25 ▲ $-26.782M ▼
Q4-2024 $0 $25.596M ▼ $-25.175M ▼ 0% $-0.28 ▼ $-25.14M ▲
Q3-2024 $0 $25.726M $-24.368M 0% $-0.24 $-25.684M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $35.132M ▼ $40.704M ▼ $30.205M ▲ $10.499M ▼
Q2-2025 $55.31M ▲ $61.429M ▲ $27.518M ▲ $33.911M ▲
Q1-2025 $14.304M ▼ $20.515M ▼ $25.802M ▲ $-5.287M ▼
Q4-2024 $35.668M ▼ $40.868M ▼ $22.439M ▼ $18.429M ▼
Q3-2024 $59.071M $64.762M $23.543M $41.219M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-25.579M ▲ $-20.14M ▲ $-67K ▼ $0 ▼ $-20.178M ▼ $-20.207M ▲
Q2-2025 $-26.82M ▼ $-24.609M ▼ $-36K ▲ $65.518M ▲ $41.006M ▲ $-24.645M ▼
Q1-2025 $-25.473M ▼ $-21.776M ▲ $-47K ▼ $0 ▼ $-21.364M ▲ $-21.823M ▲
Q4-2024 $-25.175M ▼ $-22.963M ▼ $-3K ▲ $77K ▲ $-23.403M ▼ $-22.966M ▼
Q3-2024 $-24.368M $-20.803M $-50K $0 $-20.627M $-20.853M

Five-Year Company Overview

Income Statement

Income Statement Immunic’s income statement reflects a typical clinical‑stage biotech profile: no product revenue yet and recurring operating losses driven mainly by research and development and corporate overhead. Losses have been steady over the past several years rather than sharply accelerating, suggesting controlled spending but no clear path to break-even until a drug is approved or partnered. Per‑share losses have been meaningful, which highlights both the early stage of the business model and the reliance on future clinical and partnering milestones to justify ongoing costs.

Balance Sheet

Balance Sheet The balance sheet is small and lean, with total assets largely made up of cash and no financial debt reported. Equity remains positive but modest, showing that the company still has some cushion but not a large capital base. The declining asset and cash levels over recent years indicate that the company is steadily drawing down its resources to fund trials. With no debt burden, financial leverage risk is low, but the limited size of the balance sheet underscores a likely need for future capital raises or partnerships to support late‑stage development.

Cash Flow

Cash Flow Cash flow is consistently negative from operations, reflecting ongoing R&D and administrative spending without offsetting revenue. Capital expenditures are negligible, so nearly all cash burn is tied to running the business and advancing the pipeline rather than building physical assets. Free cash flow has been predictably negative each year, and there is no sign yet of internal cash generation. This creates a clear dependency on external financing, licensing deals, or other strategic arrangements to sustain the current pace of development.

Competitive Edge

Competitive Edge Competitively, Immunic is a small player operating in very large and crowded markets, especially multiple sclerosis, where it faces global pharmaceutical companies with established drugs. Its edge is focused, not broad: oral small‑molecule therapies with differentiated mechanisms and the potential for better convenience and safety. Strong patent coverage and late‑stage development in MS help create a potential niche, while the approach in celiac disease and gastrointestinal disorders targets areas with fewer or no approved treatments. Still, the company’s size, lack of commercial infrastructure, and dependence on successful trial outcomes and partnerships are notable competitive constraints.

Innovation and R&D

Innovation and R&D Innovation is the company’s core strength. Its lead MS drug candidate combines targeted immune modulation with a possible neuroprotective effect, which, if confirmed in trials, would address important gaps in current treatments. The celiac and gut‑focused program uses a regenerative mechanism rather than classic immune suppression, offering a different angle in a space with high unmet need. Additional early‑stage assets suggest a pipeline strategy, not a single‑drug bet. However, all of this remains subject to clinical, regulatory, and financing risks, and timelines are long, with key data and trial completions stretching over the next several years.

Summary

Overall, Immunic is a pre‑revenue, R&D‑driven biotech with promising but unproven assets in large autoimmune and gastrointestinal markets. Financially, it runs on a straightforward model: steady research spending, no debt, a shrinking cash cushion, and a clear need for future funding or partnerships. Strategically, its value proposition rests on differentiated science, oral delivery, and strong intellectual property rather than current commercial strength. The company’s future will be heavily influenced by upcoming clinical readouts and its ability to secure capital and collaborations to carry its programs through late‑stage development and potential approval.

NEWS

November 26, 2025 · 6:30 AM UTC

Immunic to Participate in the 8th Annual Evercore ISI Healthcare Conference in December

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November 13, 2025 · 6:30 AM UTC

Immunic, Inc. Reports Third Quarter 2025 Financial Results and Provides Corporate Update

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October 29, 2025 · 6:30 AM UTC

Immunic to Participate in Industry and Investor Conferences in November

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October 1, 2025 · 6:30 AM UTC

Immunic to Participate in Scientific and Investor Conferences in October

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September 25, 2025 · 6:30 AM UTC

Immunic Presented Key Vidofludimus Calcium Data at the 41st Congress of ECTRIMS, Highlighting Its Potential in Multiple Sclerosis

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