Immunic announces private placement of up to $240M; first $80M tranche closes Jan 8

IMMUNIC, INC.

First tranche $80M at $1.43/share to close Jan 8, 2024; lead investor BVF Partners.
Second tranche mandatory $80M at $1.716/share conditional on Phase 2b topline data for vidofludimus calcium in PMS (April 2025) and stock price/volume thresholds.
Third tranche up to $80M at same price but cashless settlement possible; total gross proceeds $80M–$240M.
Proceeds to fund vidofludimus calcium, IMU-856, and IMU-381 clinical development; first tranche extends cash runway into Q3 2025.

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