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NEW YORK - Immunic, Inc. (NASDAQ:IMUX), a small-cap biotech company currently valued at $81.55 million, has received a Notice of Allowance from the United States Patent and Trademark Office for a patent covering dose strengths of its lead asset, vidofludimus calcium, for the treatment of progressive multiple sclerosis. According to InvestingPro data, the company’s stock trades at $0.83, with analysts setting price targets between $4 and $10.
The patent specifically covers daily doses ranging from 10 mg to 45 mg for treating progressive multiple sclerosis, including primary progressive and secondary progressive forms. This marks the fifth U.S. patent directed to the use of vidofludimus calcium in multiple sclerosis. InvestingPro analysis shows the company holds more cash than debt on its balance sheet, though it’s currently burning through cash rapidly - two of eight key insights available to subscribers.
The patent is expected to provide protection until 2041, with potential for extension through Patent Term Extension.
The allowance comes shortly after Immunic reported positive phase 2 CALLIPER trial data in progressive multiple sclerosis. In the trial, vidofludimus calcium demonstrated potential to delay time to 24-week confirmed disability worsening, supporting its ability to slow disease progression.
Vidofludimus calcium is an orally administered investigational small molecule drug with a dual mode of action that combines neuroprotective and anti-inflammatory effects. It activates the neuroprotective transcription factor Nurr1 while selectively inhibiting the enzyme dihydroorotate dehydrogenase.
The drug is currently in phase 3 clinical trials for relapsing multiple sclerosis, with top-line data expected by the end of 2026. To date, approximately 2,700 individuals have been exposed to the drug.
Immunic has built a multi-layered intellectual property portfolio for vidofludimus calcium, with patents covering various aspects including composition-of-matter, treatment methods, dosing regimens, and manufacturing processes. The company also has pending applications that could extend protection to 2044 if granted.
This information is based on a press release statement from Immunic, Inc.
In other recent news, Immunic Inc. has reported significant findings from its multiple sclerosis treatment trials. The company announced that 92.3% of patients treated with their experimental drug vidofludimus calcium showed no 12-week confirmed disability worsening after 144 weeks, and 92.7% had no 24-week confirmed disability worsening. These results were part of the Phase 2 EMPhASIS trial’s open-label extension study, which has been positively received by H.C. Wainwright, leading them to reiterate a Buy rating with a $10.00 price target on Immunic stock. In contrast, B.Riley adjusted its price target for Immunic to $4.00 from $5.00, maintaining a Buy rating while noting the upcoming catalyst-rich period for the company.
Additionally, Immunic’s board of directors has authorized up to 35 million stock appreciation rights for employees and executive officers, pending final approval and potential shareholder agreement to amend the company’s 2019 Omnibus Equity Incentive Plan. This development highlights ongoing strategic decisions within the company. These updates reflect Immunic’s active engagement in both clinical advancements and corporate governance as it navigates through its strategic objectives.
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