Immunic reports Q2 EPS (21c), consensus (23c)

“During the second quarter and subsequent period, we continued to achieve clinical and operational progress, punctuated with the addition of Jason Tardio to our team, in the newly-created position of Chief Operating Officer and President. Jason’s proven experience in launching and commercializing multiple sclerosis (MS) drugs for major biotechnology and pharmaceutical companies, including Novartis and Biogen, as well as his extensive partnering experience, will be invaluable, especially as we move closer to the potential commercialization of our late-stage clinical asset, vidofludimus calcium (IMU-838), an orally available nuclear receptor related 1 (Nurr1) activator. We also welcomed Simona Skerjanec to our Board of Directors, who most recently served as the Senior Vice President, Global Head Neuroscience and Rare Diseases at Roche, where she had a successful track record achieving double-digit sales growth, including with Ocrevus(R) (ocrelizumab), one of the most successful medicines for MS,” stated Daniel Vitt, Ph.D., Chief Executive Officer of Immunic. “We plan to provide detail on our MS development program at our next MS R&D Day in New York City in September. The event will feature two renowned industry experts alongside Immunic’s management team to discuss the unique profile of vidofludimus calcium and its potential to become a groundbreaking treatment of choice for both relapsing MS (RMS) and progressive MS (PMS) patients. We believe that vidofludimus calcium could elevate today’s standard of care by providing a holistic solution for the full range of MS patients, given that it is designed to selectively manage all components of smoldering MS with its neuroprotective, anti-inflammatory and antiviral effects.”