Immunic Inc. (IMUX) proposes public offering

Immunic, Inc. ("Immunic" or the "Company") (Nasdaq: IMUX), a biotechnology company developing a clinical pipeline of orally administered, small molecule therapies for chronic inflammatory and autoimmune diseases, today announced that it has commenced an underwritten public offering of (i) pre-funded warrants to purchase shares of common stock, (ii) Series A warrants to purchase shares of common stock (or pre-funded warrants) expiring on December 31, 2025, (iii) and Series B warrants to purchase shares of common stock (or pre-funded warrants) expiring five years following the issuance date. The Series A and B warrants will immediately expire in proportion to the extent that the corresponding pre-funded warrant offered hereby is exercised on or prior to September 30, 2025, subject to certain exceptions. All of the securities to be sold in the proposed offering will be offered by Immunic. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

The Company intends to use the net proceeds received from the proposed offering to fund its clinical trials and operations and for other general corporate purposes.

Leerink Partners is acting as the sole bookrunner for the offering.

The offering is being made by Immunic pursuant to a shelf registration statement on Form S-3 (File No. 333-275717), as amended, initially filed with the Securities and Exchange Commission (the "SEC") on November 22, 2023, which became effective on May 31, 2024. The offering is being made only by means of a preliminary prospectus supplement and the accompanying base prospectus that form a part of the registration statement. A preliminary prospectus supplement and the accompanying base prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying base prospectus, and when available, copies of the final prospectus supplement and the accompanying base prospectus relating to the offering, may be obtained by contacting Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525 ext. 6105, or by email at [email protected].

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