Immunic Inc. (IMUX) Announces $15M Registered Direct Offering of Common Stock

Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company focused on developing best-in-class, oral therapies for the treatment of chronic inflammatory and autoimmune diseases, today announced that it has entered into securities purchase agreements with certain institutional investors, led by Altium Capital, providing for the purchase and sale of 1,764,706 shares of common stock at a price of $8.50 per share in a registered direct offering.

The offering is expected to close on or about April 27, 2020, subject to satisfaction of customary closing conditions. Net proceeds of the offering, after placement agent fees are expected to be approximately $14 million. Immunic intends to use the proceeds to fund the ongoing clinical development of the Company's three small molecule products: IMU-838, IMU-935 and IMU-856, and for other general corporate purposes, including to investigate IMU-838, the Company's lead asset, as a potential oral treatment option for COVID-19.

Roth Capital Partners is acting as sole agent in connection with the offering.

The shares of common stock were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-225230), which was declared effective by the United States Securities and Exchange Commission (SEC) on June 13, 2018.

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