On August 10, 2020 Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, reported the closing of an underwritten public offering of 5,750,000 shares of its common stock at a public offering price of $18.00 per share, which includes the exercise in full by the underwriters of their option to purchase an additional 750,000 shares (Press release, Immunic, AUG 10, 2020, View Source [SID1234563380]).
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Immunic received total proceeds from the offering, before deducting the underwriting discounts and other offering expenses, of $103.5 million.
SVB Leerink acted as sole bookrunning manager for the offering. Wedbush PacGrow and Ladenburg Thalmann acted as co-managers for the offering.
The Company intends to use the net proceeds of the offering to fund the ongoing clinical development of its three lead product candidates, IMU-838, IMU-935 and IMU-856, including to investigate IMU-838 in a potential phase 3 program in relapsing-remitting multiple sclerosis, and for other general corporate purposes.
The securities described above were offered by Immunic, Inc. pursuant to a shelf registration statement filed by Immunic, Inc. with the Securities and Exchange Commission (SEC), which was declared effective on June 13, 2018. A final prospectus supplement and accompanying prospectus related to the offering was filed with the SEC on August 5, 2020 and is available for free on the SEC’s website at www.sec.gov.
Copies of the final prospectus supplement and the accompanying prospectus related to the offering may be obtained from: SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by email at [email protected], or by telephone at (800) 808-7525, ext. 6218.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.