Clinical-stage biopharmaceutical company Immunic (NSDQ:IMUX) announced that it is offering common stock shares for approximately $25 million.
The offering includes nearly 2.2 million shares of common stock priced to the public at $11.40 per share, amounting to proceeds of $25 million before deducting fees and estimated offering expenses. In an SEC filing dated June 10, Immunic said it expected the offering to close on June 12.
Immunic intends to use the proceeds to fund the ongoing clinical development of its three small molecule products, IMU-838, IMU-935 and IMU-856. Funding may also go toward general corporate purposes, including investigating IMU-838 as a potential oral treatment option for COVID-19.
Roth Capital Partners and Ladenburg Thalmann acted as placement agents in connection with the offering.