Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company focused on developing best-in-class, oral therapies for the treatment of chronic inflammatory and autoimmune diseases, today announced the pricing of its previously announced public offering for the offering of 2,175,000 shares of common stock of the Company at a price to the public of $11.40 per share, for aggregate gross proceeds to the Company of approximately $25 million, before deducting the fees and estimated offering expenses payable by the Company. The offering is expected to close on or about June 12, 2020, subject to customary closing conditions.

Immunic intends to use the proceeds from the offering to fund the ongoing clinical development of the Company's three small molecule products: IMU-838, IMU-935 and IMU-856, and for other general corporate purposes, including to investigate IMU-838, the Company's lead asset, as a potential oral treatment option for COVID-19.

Roth Capital Partners and Ladenburg Thalmann acted as placement agents in connection with the offering.

The shares of common stock were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-225230), which was declared effective by the United States Securities and Exchange Commission (SEC) on June 13, 2018.

About Immunic, Inc.

Immunic, Inc. (Nasdaq: IMUX) is a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies aimed at treating chronic inflammatory and autoimmune diseases, including relapsing-remitting multiple sclerosis, ulcerative colitis, Crohn's disease, and psoriasis. The company is developing three small molecule products: IMU-838 is a selective immune modulator that inhibits the intracellular metabolism of activated immune cells by blocking the enzyme DHODH; IMU-935 is an inverse agonist of ROR?t; and IMU-856 targets the restoration of the intestinal barrier function. Immunic's lead development program, IMU-838, is in phase 2 clinical development for relapsing-remitting multiple sclerosis and ulcerative colitis, with an additional phase 2 trial considered in Crohn's disease. The company is also investigating IMU-838 as a potential treatment option for COVID-19. An investigator-sponsored proof-of-concept clinical trial for IMU-838 in primary sclerosing cholangitis is ongoing at the Mayo Clinic. For further information, please visit: www.imux.com.