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Immunic
(NASDAQ:IMUX)
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Rating:43Neutral
Price Target:
$6.50
▼(-60.58% Downside)
Action:Reiterated
Date:10/03/26
The score is primarily weighed down by weak financial performance (no revenue, sizable losses, and significant cash burn) and bearish technical conditions (price well below key moving averages with negative MACD). Valuation contributes little support due to a negative P/E and no dividend yield data.
Positive Factors
Low Leverage
Very low debt reduces fixed financial obligations and preserves flexibility as Immunic funds clinical development. The improved TTM equity position also provides a stronger capital structure than in 2025, although continued losses could erode that benefit over time.
Negative Factors
No Commercial Revenue
Immunic remains pre-commercial, so its operating model currently lacks product revenue to support research and development spending. Until a candidate reaches approval and commercialization, business performance will depend primarily on clinical progress and continued access to external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Very low debt reduces fixed financial obligations and preserves flexibility as Immunic funds clinical development. The improved TTM equity position also provides a stronger capital structure than in 2025, although continued losses could erode that benefit over time.
Read all positive factors
Immunic (IMUX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$101.11M
Dividend YieldN/A
Average Volume (3M)432.03K
Price to Earnings (P/E)―
Beta (1Y)0.77
Revenue GrowthN/A
EPS Growth50.66%
CountryUS
Employees100
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-4.80
Shares Outstanding13,644,467
10 Day Avg. Volume373,441
30 Day Avg. Volume432,034
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)-12.46
Price to Sales (P/S)0.00
P/FCF Ratio-0.97
Enterprise Value/Market Cap4.93
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-15.12K
Enterprise Value/Ebitda-4.48
Forecast
1Y Price Target
$36.56Price Target Upside121.68% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)-3.59
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-...
Immunic Earnings Call Summary
Earnings Call Date:Nov 07, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Oct 29, 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
58
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 | -111.42M | -97.00M | -100.37M | -93.50M | -86.44M | -92.86M |
| Net Income | -111.57M | -97.17M | -100.51M | -93.61M | -120.41M | -92.94M |
Balance Sheet | ||||||
| Total Assets | 159.17M | 24.05M | 40.87M | 54.30M | 127.75M | 139.10M |
| Cash, Cash Equivalents and Short-Term Investments | 155.10M | 15.48M | 35.67M | 46.67M | 116.37M | 86.86M |
| Total Debt | 567.00K | 684.00K | 1.00M | 1.33M | 1.56M | 992.00K |
| Total Liabilities | 31.59M | 30.73M | 22.44M | 25.37M | 14.07M | 11.98M |
| Stockholders Equity | 127.58M | -6.67M | 18.43M | 28.93M | 113.68M | 127.11M |
Cash Flow | ||||||
| Free Cash Flow | -88.05M | -85.97M | -85.03M | -71.16M | -65.26M | -83.30M |
| Operating Cash Flow | -87.72M | -85.81M | -84.77M | -70.83M | -65.14M | -83.23M |
| Investing Cash Flow | -329.00K | -161.00K | -264.00K | 9.46M | -9.74M | -67.00K |
| Financing Cash Flow | 188.82M | 65.58M | 74.54M | 1.03M | 95.76M | 42.84M |
Immunic Technical Analysis
Negative
16.49
Price Trends
11.12
Negative
12.75
Negative
11.47
Negative
Market Momentum
-1.01
Negative
36.35
Neutral
50.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IMUX, the sentiment is Negative. The current price of 16.49 is above the 20-day moving average (MA) of 7.78, above the 50-day MA of 11.12, and above the 200-day MA of 11.47, indicating a bearish trend. The MACD of -1.01 indicates Negative momentum. The RSI at 36.35 is Neutral, neither overbought nor oversold. The STOCH value of 50.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | $101.03M | -232.27 | -6.27% | ― | 216600.00% | 75.57% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $47.63M | -1.33 | -166.98% | ― | ― | 55.37% | |
47 Neutral | $107.81M | -3.35 | 168.68% | ― | ― | 67.07% | |
45 Neutral | $77.99M | -4.80 | -41.15% | ― | -100.00% | 64.23% | |
43 Neutral | $101.11M | -1.54 | -157.89% | ― | ― | 50.66% | |
43 Neutral | $16.19M | -0.27 | -95.59% | ― | ― | 21.92% |
* Healthcare Sector Average
IMUX
Immunic
7.41
-0.94
-11.25%
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VTVT
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NRXP
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EQ
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1.23
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HOWL
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0.98
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Immunic Corporate Events
Business Operations and StrategyDelistings and Listing ChangesProduct-Related Announcements
Immunic Highlights Multiple Sclerosis Program in R&D Webinar
Neutral
Sep 9, 2026
On September 9, 2026, Immunic hosted a Relapsing Multiple Sclerosis Research and Development Day webinar to present updates on its RMS program via a video conference held from 11:00 a.m. to 12:30 p.m. ET. The event highlighted the company’s ...
Business Operations and StrategyExecutive/Board Changes
Immunic Adds Veteran Finance Leader to Board
Positive
Aug 11, 2026
On August 10, 2026, Immunic announced that it had appointed Elena Ridloff, CFA, to its board of directors, effective August 6, 2026, adding a director with more than two decades of experience in finance, capital markets and corporate development a...
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.