Biotech firm Immunic's Q3 net loss widens on higher R&D costs

Overview

• US biotech firm's Q3 net loss widened to $42.3 mln, or $0.99 per share

• Operating expenses and R&D costs rose due to higher personnel and NDA readiness activities

• Company's Phase 3 MS trials remain on track, with top-line data expected December 2026

Outlook

• Immunic expects top-line Phase 3 ENSURE trial data in relapsing MS in December 2026

• Company plans potential NDA submission for vidofludimus calcium in mid-2027 if ENSURE results are positive

• Initiation of Phase 3 PROTECT-MS trial in progressive MS ongoing, first-patient-enrolled expected in H1 2027

Result Drivers

• R&D SPENDING - Higher R&D expenses driven by increased personnel costs, drug supply for vidofludimus calcium, and NDA readiness activities

• G&A COSTS - General and administrative expenses rose, mainly due to higher personnel costs and non-cash stock compensation related to a separation agreement

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Immunic, Inc. is $30.00, about 285.1% above its November 12 closing price of $7.79

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)