Quarterly ResultMay 13, 2026, 06:42 AM
Immunic 1-for-10 Reverse Stock Split; Q1 Net Loss $(32.6)M, Cash $186.6M
AI Summary
Immunic, Inc. implemented a 1-for-10 reverse stock split effective April 27, 2026, with all share information in the report restated. For Q1 2026, the company reported a net loss of $32.6 million, an increase from $25.5 million in Q1 2025. Cash and cash equivalents significantly increased to $186.6 million as of March 31, 2026, primarily due to $188.6 million in net proceeds from a February 2026 private placement. The company expects these funds to support operations for over 12 months.
Key Highlights
- Stockholders authorized a 1-for-10 reverse stock split, effective April 27, 2026.
- Net loss for Q1 2026 was $(32.6) million, compared to $(25.5) million in Q1 2025.
- Net loss per share for Q1 2026 was $(1.08), compared to $(2.51) in Q1 2025.
- Cash and cash equivalents surged to $186.6 million as of March 31, 2026, from $15.5 million at Dec 31, 2025.
- Net cash provided by financing activities was $188.6 million in Q1 2026, driven by a private placement.
- Research and development expenses increased to $25.6 million in Q1 2026 from $21.5 million in Q1 2025.
- Accumulated deficit reached $(641.2) million as of March 31, 2026.
- The company expects current funds to cover operations for over 12 months.