IMUX Stock — Immunic Inc.: Cash, EV, Pipeline

Share price

$10.62

Market cap

$144.9M

Cash

$155.1M

Enterprise value

-$10.2M

Balance sheet

Cash	$155.1M
Debt	$0.0M
Net cash	$155.1M
Enterprise value	-$10.2M
Basic shares	13.6M shares
Fully diluted shares	50.1M shares
Fully diluted market cap	$532.4M
Cash per share	$11.40

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Dec 13, 2026 - Jan 24, 2027	IMU-838 tablets	Phase 3	Multiple Sclerosis	—
Dec 13, 2026 - Jan 24, 2027	IMU-838 tablets	Phase 3	Multiple Sclerosis, Relapsing-Remitting	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Vidofludimus calcium

Phase 3 · Active Modality: oral small molecule

Aliases IMU-838

Target DHODH; Nurr1 (neuroprotective transcription factor)

Indications

Relapsing multiple sclerosis (RMS) (Phase 3)
Progressive multiple sclerosis (PMS) (Phase 2)

Catalysts

— 2026
— 2026

Status note Lead candidate. ENSURE-1 (1,121 pts) and ENSURE-2 (1,100 pts), 30 mg daily vs placebo; enrollment completed June 2025; if positive, NDA submission targeted mid-2027. Phase 2 CALLIPER in progressive MS reported 2025 (PBVC primary not met; directionally favorable disability outcomes); Phase 3 in PMS planned.

IMU-856

Phase 1 · Active Modality: oral small molecule (SIRT6 modulator)

Target SIRT6

Partnerships Daiichi Sankyo: option and license agreement (2018); option exercised January 2020 for exclusive worldwide commercialization rights; development/regulatory/sales milestones and royalties

Indications

Celiac disease (Phase 1)
IBD / GvHD / other intestinal barrier-function diseases (Preclinical)

Status note Phase 1b in celiac disease showed positive effects on gut architecture, symptoms, biomarkers, and nutrient absorption. Exploring strategic alternatives (financing, licensing, or partnering); further clinical testing contingent on such a transaction.

IMU-381

Preclinical · Active Modality: small molecule (next-generation Nurr1 platform)

Target Nurr1

Indications

Neurologic, gastrointestinal and other autoimmune diseases (Preclinical)

Status note Preclinical testing of next-generation Nurr1 platform molecules.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	IMU-838 tablets
Lead indication	Multiple Sclerosis
Lead phase	Phase 3
Active trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT05134441	Phase 3	Active, not recruiting	Sponsor	Immunic AG	—	Multiple Sclerosis	—
NCT05201638	Phase 3	Active, not recruiting	Sponsor	Immunic AG	—	Multiple Sclerosis, Relapsing-Remitting	—
NCT03846219	Phase 2	Active, not recruiting	Sponsor	Immunic AG	—	Relapsing-Remitting Multiple Sclerosis (RRMS)	—

Sponsor-matched active trials from ClinicalTrials.gov (3 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for Immunic AG on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Braidwell LP	645,010	+645,010	0.37%	2026-08-14
Ikarian Capital	67,464	-607,198	0.17%	2026-08-14
ADAR1 Capital Management	0	-30,000	0.00%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

IMUX — Immunic Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders