IMUX Stock Jumps 6% Pre-Market Today – Here’s The Latest Update On Its Compliance With Nasdaq Listing Rules

• IMUX shares have consistently traded above $1 since February 27.
• The company appointed Jon Congleton, CEO of Mineralys Therapeutics, to its board of directors on Tuesday.
• It recently closed a private placement of up to $400 million to support late-stage trials for the treatment of multiple sclerosis.

Shares of Immunic, Inc (IMUX) gained around 7% on Wednesday after the company said it had regained compliance with Nasdaq’s listing rules on March 26.

The firm regained compliance after the stock closed at or above $1 for at least 20 consecutive business days. The update removes concerns about a potential delisting from the Nasdaq Capital Market.

IMUX shares have consistently traded above $1 since February 27.

On Tuesday, the company appointed Jon Congleton, CEO of Mineralys Therapeutics, to its board of directors. 

Immunic Secures Patent And Raises $400 Million

Last month, the European Patent Office granted Immunic a key patent covering dosing regimens for its lead drug, Vidofludimus Calcium, to treat patients with multiple sclerosis. The protection is expected to last until 2038, with a potential extension to 2043. 

The patent broadly covers multiple forms of the drug, ensuring strong exclusivity across Europe and building on earlier approval from the United States Patent and Trademark Office.

The company also closed a private placement of up to $400 million, led by BVF Partners. Immunic secured $200 million upfront, with additional funding tied to future warrants. The company said the funds will support late-stage trials for multiple sclerosis, aimed at helping slow disease progression.

How Did Retail Traders React?

Retail sentiment on Stocktwits remained in the ‘bearish’ zone over the past 24 hours.

One user highlighted the potential for a reverse share split.

Another user was bullish about Congleton’s appointment.

Year-to-date, the stock has gained more than 113%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.