Immunic, Inc. Reports Q3 2024 Financial Results

On November 7, 2024, Immunic, Inc. released its third-quarter financial results and provided a corporate update. The biotechnology company, focused on developing therapies for chronic inflammatory and autoimmune diseases, continues advancing its pipeline, especially in multiple sclerosis.

A significant milestone was reached in its Phase 3 ENSURE trials for relapsing multiple sclerosis, with positive interim analysis confirming the continuation of the trials without increasing sample size. The Phase 2 CALLIPER trial in progressive multiple sclerosis is on track to report top-line data in April 2025.

For Q3 2024, R&D expenses increased to $21.4 million due to development costs, while G&A expenses rose to $4.4 million, primarily due to personnel expenses. Net loss for the quarter was $24.4 million, with cash reserves of $59.1 million expected to fund operations into Q3 2025.