Immunic Q3 2025 net loss $25.6M; cash $35.1M; warns insufficient liquidity for 12 months

IMMUNIC, INC.

2025-Q3 EPS reported -$0.55 vs consensus -$1.71 ▲ beat (+67.8%)

Net loss of $25.6M ($0.13/share) vs $24.4M ($0.24/share) in Q3 2024; nine-month loss $77.9M.
Cash and equivalents $35.1M as of Sep 30, 2025; company states it lacks adequate liquidity to fund operations for 12 months without additional capital.
R&D expenses $20.0M, down from $21.4M; G&A $6.0M, up from $4.4M.
At ECTRIMS, presented CALLIPER data showing statistically significant 24-week confirmed disability improvement in progressive MS.
Received USPTO Notice of Allowance for patent covering vidofludimus calcium dose strengths for PMS; top-line ENSURE data expected by year-end 2026.

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