Buy Rating Affirmed for Immunic’s Vidofludimus Calcium Due to Promising Phase 2 Results and Strong MS Treatment Potential

Analyst Matthew Caufield of H.C. Wainwright reiterated a Buy rating on Immunic (IMUX – Research Report), retaining the price target of $10.00.

Matthew Caufield has given his Buy rating due to a combination of factors including the promising results from the Phase 2 CALLIPER trial for Immunic’s oral candidate vidofludimus calcium in progressive multiple sclerosis (PMS). The trial demonstrated significant neuroprotective benefits and a reduction in disease progression independent of relapse activity. Notably, vidofludimus calcium reduced the relative risk of confirmed disability worsening events and showed a substantial reduction in brain volume loss, which is a critical measure for PMS.
Furthermore, the ongoing Phase 3 development in relapsing multiple sclerosis (RMS) patients, with the ENSURE-1 and ENSURE-2 trials, is anticipated to further validate the candidate’s efficacy. The dual mechanism of vidofludimus calcium, which includes neuroprotection and anti-inflammatory effects, positions it as a strong contender for addressing unmet needs in MS treatment. Despite the need for additional capital to sustain operations, the potential of vidofludimus calcium in the MS pipeline supports a positive outlook, justifying the Buy rating and a $10 price target.