Immunic Q2 net loss $27M; vidofludimus reduces disability worsening 24% in PMS trial

IMMUNIC, INC.

2025-Q2 EPS reported -$0.45 vs consensus -$1.68 ▲ beat (+73.3%)

Net loss of $27.0M ($0.20/share) for Q2 2025 vs $21.4M ($0.21/share) in Q2 2024.
Cash and equivalents $55.3M; company states insufficient liquidity for 12 months without additional capital.
Phase 2 CALLIPER: vidofludimus calcium reduced 24-week confirmed disability worsening 23.8% overall, 31.3% in PPMS.
Phase 3 ENSURE enrollment completed (1,121 and 1,100 patients); top-line data expected by end of 2026.
Two financings raised $70.1M gross in Q2 2025; R&D expenses $21.4M (+$3.0M YoY).

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