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Immunic Gets Bullish Rating On Multiple Sclerosis Drug Prospect

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Priya Nigam
·1 min read
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Immunic Inc’s (NASDAQ: IMUX) lead candidate, IMU-838, has an “attractive safety profile” and exhibited positive efficacy results in the Phase II trials, according to JMP Securities.

The Immunic Analyst: Gobind Singh initiated coverage of Immunic with a Market Outperform rating and a price target of $55.

The Immunic Thesis: IMU-838, an oral small molecule, is a novel DHODH inhibitor and can also be “a potent FXR ligand that can suppress overactive immune responses,” Singh said in the initiation note.

IMU-838 is currently in Phase II trials for ulcerative colitis and is likely to begin Phase III trials for multiple sclerosis (MS) later this year, the analyst stated.

“We think IMU-838 will also advance into Ph2/3 trials for PSC and COVID-19 later this year (or early next),” he added.

The safety and efficacy of Immunic’s lead candidate are “key distinguishing advantages that position IMU-838 as best in class and, potentially, even best oral MS therapy,” Singh noted.

While saying that “our valuation is primarily driven by IMU-838 in RRMS (relapsing/remitting multiple sclerosis), not UC/CD (ulcerative colitis/Crohn's disease),” the analyst stated that second-quarter catalysts for IMU-838 in MS, “including 10mg MRI results and release of a Ph3 trial design/strategy.”

IMUX Price Action: Shares of Immunic had risen by 1.95% to $14.88 at the time of publication Wednesday.

(Photo by Louis Reed on Unsplash)

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