Immunic Names Lundgren Chief Executive Officer
The late-stage biotech ended June with $155.1 million in cash after a February private placement and said ENSURE top-line data are expected by the end of 2026.
Immunic appointed Erik Lundgren chief executive officer. The company is developing oral therapies for neurologic diseases.
For the three months ended June 30, 2026, Immunic reported a net loss of approximately $34.1 million, compared with $26.8 million a year earlier.
Total operating expenses for the quarter were $35.3 million, including $7.2 million of non-cash charges primarily related to stock compensation. Research and development expenses were $25.9 million, compared with $21.3 million a year earlier. General and administrative expenses increased to $9.4 million from $5.7 million.
Cash and cash equivalents were $155.1 million at June 30, 2026. Immunic expects these funds to fund operations into late 2027.
The company said its Phase 3 ENSURE trials of vidofludimus calcium in relapsing multiple sclerosis remained on track for top-line data by the end of 2026. If results are positive, Immunic plans to submit a U.S. New Drug Application in mid-2027, with a targeted potential regulatory approval date in 2028. It also plans to initiate a Phase 3 program in progressive multiple sclerosis later in 2026.
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