February 19,
2026 - B. Riley Securities,
Inc., a leading full-service investment bank, announced it
served as a placement agent in connection with the successful
closing of Immunic, Inc.'s ("Immunic") (Nasdaq: IMUX) private
placement of up to $400 million.
The transaction included $200 million in upfront proceeds through the
issuance of 229,076,000 pre-funded warrants, with up to
an additional $200 million in proceeds through exercisable
warrants.
Headquartered in New York, Immunic is a biotechnology company
developing a clinical pipeline of orally administered, small molecule therapies
for chronic inflammatory and autoimmune diseases.
Proceeds from the transaction will
support Immunic's strategic evolution from a research and
development-focused biotechnology company into a fully integrated
commercial-stage organization. The capital will enable completion
of Immunic's ongoing Phase 3 ENSURE clinical trials
of vidofludimus calcium in relapsing multiple sclerosis (RMS), with
top-line data expected by year-end 2026, and submission of a New Drug
Application (NDA) to the FDA in mid-2027. Proceeds will also fund initiation of
a Phase 3 clinical program in primary progressive multiple sclerosis (PPMS) and
pre-commercial preparations, including expansion of medical and commercial
teams.
Read more about the transaction here.
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