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Immunic
(NASDAQ:IMUX)
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Rating:51Neutral
Price Target:
$14.00
▲(4.56% Upside)
Action:Reiterated
Date:06/30/26
The score is primarily constrained by weak financial performance (pre-revenue, persistent losses, and ongoing cash burn), which outweighs otherwise favorable technical strength (price above major moving averages with positive momentum). Corporate events are a modest positive (clinical updates, governance/leadership upgrades, and Nasdaq compliance), while valuation remains pressured due to negative earnings and no dividend yield provided.
Positive Factors
Low leverage / minimal debt
Minimal debt reduces fixed financial obligations and interest pressure, preserving flexibility to fund R&D and clinical programs through equity or partnerships. For a pre-revenue biotech, low leverage lowers bankruptcy risk and improves options for future financing or strategic deals over the next several quarters.
Negative Factors
Persistent pre-revenue cash burn
Sustained negative operating and free cash flows require continual external financing until commercialization or partner revenue emerges. Ongoing burn pressures strategic flexibility, risks dilutive financing, and elevates execution risk if clinical timelines or regulatory paths extend beyond current runway.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / minimal debt
Minimal debt reduces fixed financial obligations and interest pressure, preserving flexibility to fund R&D and clinical programs through equity or partnerships. For a pre-revenue biotech, low leverage lowers bankruptcy risk and improves options for future financing or strategic deals over the next several quarters.
Read all positive factors
Immunic (IMUX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$190.29M
Dividend YieldN/A
Average Volume (3M)172.86K
Price to Earnings (P/E)―
Beta (1Y)0.92
Revenue GrowthN/A
EPS Growth38.59%
CountryUS
Employees92
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-5.98
Shares Outstanding13,621,483
10 Day Avg. Volume173,429
30 Day Avg. Volume172,859
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)-1.25
Price to Sales (P/S)0.00
P/FCF Ratio-0.10
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$29.80Price Target Upside122.55% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-4.4
Revenue Forecast (FY)N/A
Immunic Business Overview & Revenue Model
Company Description
Immunic, Inc. is a biopharmaceutical firm currently in the clinical development phase, dedicated to pioneering selective oral immunotherapies for a range of chronic inflammatory and autoimmune conditions. Its primary investigational compound, IMU-...
How the Company Makes Money
As a clinical-stage biotechnology company, Immunic’s operations are primarily funded through financing activities rather than recurring product sales. null...
Immunic Earnings Call Summary
Earnings Call Date:Nov 07, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The earnings call presented significant positive developments, including strengthened leadership, progress in key clinical trials, and potential market impact of vidofludimus calcium. However, challenges such as increased R&D expenses and net losses were also noted. The sentiment leans slightly positive due to the promising clinical trial results and potential market opportunities.Positive Updates
Strengthened Management and Board
Appointment of Jason Tardio as President and COO and Simona Skerjanec to the Board, enhancing the team's expertise in drug commercialization and development.
Negative Updates
Increased R&D Expenses
R&D expenses increased to $21.4 million for Q3 2024 compared to $19.8 million in Q3 2023.
Read all updates
Q3-2024 Updates
Positive
Negative
Strengthened Management and Board
Appointment of Jason Tardio as President and COO and Simona Skerjanec to the Board, enhancing the team's expertise in drug commercialization and development.
Read all positive updates
Company Guidance
During the Q3 2024 earnings call for Immunic, the company provided several key metrics and guidance concerning its financial status and clinical development programs. Immunic ended the quarter with $59.1 million in cash, which is expected to fund operations into Q3 2025. R&D expenses were reported at $21.4 million for the quarter, reflecting an increase from the previous year due to costs associated with clinical trials, offset by savings from deprioritized programs. The net loss for the quarter was approximately $24.4 million or $0.24 per share. Significant clinical milestones were also discussed, including the anticipated top-line data from the Phase II CALLIPER trial in progressive MS expected in April 2025, and the continuation of the Phase III ENSURE trials in relapsing MS, with the first trial completion expected by Q2 2026. The company also highlighted ongoing interest from pharmaceutical companies for potential partnerships, driven by the innovative profile and market potential of their lead asset, vidofludimus calcium.Immunic Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
48
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -33.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -104.13M | -97.00M | -100.37M | -93.50M | -86.44M | -92.86M |
| Net Income | -104.29M | -97.17M | -100.51M | -93.61M | -120.41M | -92.94M |
Balance Sheet | ||||||
| Total Assets | 189.74M | 24.05M | 40.87M | 54.30M | 127.75M | 139.10M |
| Cash, Cash Equivalents and Short-Term Investments | 186.63M | 15.48M | 35.67M | 46.67M | 116.37M | 86.86M |
| Total Debt | 421.00K | 684.00K | 1.00M | 1.33M | 1.56M | 992.00K |
| Total Liabilities | 38.51M | 30.73M | 22.44M | 25.37M | 14.07M | 11.98M |
| Stockholders Equity | 151.23M | -6.67M | 18.43M | 28.93M | 113.68M | 127.11M |
Cash Flow | ||||||
| Free Cash Flow | -81.45M | -85.97M | -85.03M | -71.16M | -65.26M | -83.30M |
| Operating Cash Flow | -81.33M | -85.81M | -84.77M | -70.83M | -65.14M | -83.23M |
| Investing Cash Flow | -116.00K | -161.00K | -264.00K | 9.46M | -9.74M | -67.00K |
| Financing Cash Flow | 254.22M | 65.58M | 74.54M | 1.03M | 95.76M | 42.84M |
Immunic Technical Analysis
Positive
13.39
Price Trends
14.33
Positive
12.81
Positive
10.20
Positive
Market Momentum
-0.09
Positive
53.76
Neutral
67.74
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMUX, the sentiment is Positive. The current price of 13.39 is below the 20-day moving average (MA) of 14.36, below the 50-day MA of 14.33, and above the 200-day MA of 10.20, indicating a bullish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 53.76 is Neutral, neither overbought nor oversold. The STOCH value of 67.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IMUX.
Immunic Risk Analysis
Immunic disclosed 78 risk factors in its most recent earnings report. Immunic reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Immunic Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $127.42M | 1,617.50 | 3.96% | ― | 216600.00% | 79.14% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $190.29M | -2.34 | -220.75% | ― | ― | 38.59% | |
48 Neutral | $132.12M | -2.46 | 107.73% | ― | ― | 36.33% | |
46 Neutral | $47.62M | -0.67 | -99.87% | ― | ― | 8.93% | |
45 Neutral | $17.16M | -0.48 | -208.23% | ― | ― | 55.37% | |
44 Neutral | $139.10M | -5.85 | -61.43% | ― | -100.00% | 18.25% |
* Healthcare Sector Average
IMUX
Immunic
14.54
5.52
61.14%
ATYR
aTyr Pharma
0.50
-4.74
-90.42%
VTVT
vTv Therapeutics
34.61
20.51
145.48%
NRXP
NRX Pharmaceuticals
3.09
0.63
25.61%
EQ
Equillium
2.12
1.57
283.36%
HOWL
Werewolf Therapeutics
0.40
-0.78
-65.93%
Immunic Corporate Events
Business Operations and StrategyFinancial Disclosures
Immunic Updates Corporate Strategy, Highlights Vidofludimus Plans
Neutral
Jul 15, 2026
On July 14, 2026, Immunic made an updated corporate presentation available on its website, outlining its development programs, clinical trial plans and overall strategic focus. The materials detail expectations around future operations, cash runwa...
Executive/Board Changes
Immunic Names CEO Erik Lundgren to Board
Neutral
Jul 6, 2026
On June 29, 2026, Immunic director Tamar Howson resigned from the Board and its Compensation Committee as she transitioned into retirement, with the company emphasizing that her departure did not stem from any disagreement over operations, policie...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Immunic Expands Equity Plan and Reelects Board Directors
Positive
Jun 29, 2026
On June 29, 2026, Immunic, Inc. held its annual meeting of stockholders, where shareholders approved an amendment to the company’s 2019 Omnibus Equity Incentive Plan to increase the authorized common shares available for issuance under the p...
Business Operations and StrategyProduct-Related Announcements
Immunic Highlights Positive Phase 2 CALLIPER MS Data
Positive
May 28, 2026
On May 28, 2026, Immunic, Inc. reported new data from its phase 2 CALLIPER trial of lead asset vidofludimus calcium in progressive multiple sclerosis, presented in one late-breaking and two additional posters at the Consortium of Multiple Sclerosi...
Business Operations and StrategyExecutive/Board Changes
Immunic Appoints New CEO to Lead MS Strategy
Positive
May 27, 2026
Immunic, Inc., a Nasdaq-listed late-stage biotechnology company focused on novel oral therapies for neurologic diseases, is centered on its lead multiple sclerosis candidate vidofludimus calcium, now in phase 3 trials in relapsing multiple scleros...
Business Operations and StrategyExecutive/Board Changes
Immunic Appoints Michael Bonney as Board Chair
Positive
May 19, 2026
On May 19, 2026, Immunic announced that veteran biopharmaceutical executive Michael W. Bonney was appointed Chair of its Board of Directors, effective May 16, 2026, with former interim chair Simona Skerjanec remaining on the board. Bonney brings m...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.