IMMUNIC, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $82.0M | $80.0M | $83.2M | $71.3M | $61.1M |
| Operating expenses | $103.2M | $98.1M | $99.2M | $119.5M | $91.7M |
| Operating income | -$103.2M | -$98.1M | -$99.2M | -$119.5M | -$91.7M |
| Income tax expense | $0 | — | — | — | — |
| Net income | -$97.2M | -$100.5M | -$93.6M | -$120.4M | -$92.9M |
| Balance Sheet | |||||
| Cash and equivalents | $15.5M | $35.7M | $46.7M | $106.7M | $86.9M |
| Current assets | $22.9M | $39.3M | $52.5M | $125.9M | $105.0M |
| Total assets | $24.1M | $40.9M | $54.3M | $127.8M | $139.1M |
| Current liabilities | $30.6M | $22.2M | $24.7M | $13.1M | $11.4M |
| Total liabilities | $30.7M | $22.4M | $25.4M | $14.1M | $12.0M |
| Stockholders' equity | -$6.7M | $18.4M | $28.9M | $113.7M | $127.1M |
| Cash Flow Statement | |||||
| Cash from operations | -$85.8M | -$84.8M | -$70.8M | -$65.1M | -$83.2M |
| Depreciation and amortization | $168,000 | $134,000 | $111,000 | $77,000 | $85,000 |
| Stock-based compensation | $8.9M | $8.5M | $7.1M | $7.9M | $5.9M |
| Capital expenditure | $161,000 | $264,000 | $334,000 | $112,000 | $67,000 |
| Free cash flow | -$86.0M | -$85.0M | -$71.2M | -$65.3M | -$83.3M |
| Impairments | $0 | $0 | $0 | $33.0M | $0 |
Shares outstanding 13.6M · Free float 22.6%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.