Why Did IMUX Stock Surge 33% Pre-Market Today?
Synopsis
Immunic announced a private placement of up to $400 million to support its clinical studies and other operational needs.
Immunic Inc. (IMUX) announced on Friday that it has secured a private placement that could generate up to $400 million in gross proceeds, providing funding to advance its multiple sclerosis programs and support future product launches.
The financing, led by existing investor BVF Partners and including several institutional backers, includes $200 million in upfront proceeds and the potential for an additional $200 million if warrants are exercised.
Immunic plans to use the money raised to support its clinical studies, day-to-day operations, and other general business needs. Together with its existing cash and investments, the funds are expected to cover operating and capital costs through the end of 2027.
Following the announcement, Immunic stock traded over 33% higher in Friday’s premarket.
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