Immunic (IMUX) Investor presentation summary

Company overview and strategy

• Focused on developing first-in-class oral therapies for chronic inflammatory and autoimmune diseases, especially multiple sclerosis (MS) and gastrointestinal disorders.

• Pipeline includes vidofludimus calcium for MS and IMU-856 for gastrointestinal diseases.

• Leadership team has a track record of successful drug development and commercialization.

• Cash balance of $186.6 million as of March 31, 2026.

Clinical pipeline and milestones

• Vidofludimus calcium is in phase 3 for relapsing MS (ENSURE-1 and ENSURE-2) and phase 2/3 for progressive MS (CALLIPER trial).

• ENSURE trials fully enrolled; top-line data expected by end of 2026.

• CALLIPER trial completed, showing substantial reductions in disability worsening in progressive MS.

• Phase 1b trial of IMU-856 in celiac disease demonstrated proof-of-concept and dose-dependent increase in GLP-1.

Market opportunity and competitive landscape

• MS market is valued at $20 billion and growing at 4% annually, with several blockbusters generating over $1 billion in sales.

• Oral disease-modifying therapies (DMTs) expected to maintain over one-third market share by 2032.

• Vidofludimus calcium targets a $3-7 billion peak sales opportunity in MS, including relapsing and progressive forms.

• High unmet need in progressive MS, especially PPMS, with only one approved therapy and a $6B+ global market.