Immunic initiated with Buy into MS readouts at Brookline

Brookline analyst Tyler Bussian last night initiated coverage of Immunic with a Buy rating and $10 price target. The company’s lead asset, IMU-838, is a second-generation DHODH inhibitor in development for the treatment of multiple sclerosis, the analyst tells investors in a research note. The firm says that compared to currently available treatments, IMU-838 is more potent and has an improved safety profile. It expects the Phase 3 readouts to be positive and “significant catalysts” for the stock.