Immunic Inc. Common Stock (IMUX)

FairStock Score: 30/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable earnings, honest accounting, and a margin of safety. Immunic is a clinical-stage biotech with no revenue in the filed periods shown. The losses are persistent: in fiscal Q2 2026, the quarter ended 2026-06-30, net loss was $34.1 million and diluted EPS was -$0.80; in fiscal Q1 2026, net loss was $32.6 million and diluted EPS was -$1.08. For fiscal 2025, net loss was $97.2 million, diluted EPS -$0.62; fiscal 2024 net loss $100.5 million, EPS -$1.00; and fiscal 2023 net loss $93.6 million, EPS -$2.11. Trailing free cash flow is -$88.0 million, which FairStock calculates as a -93.7% FCF yield against the $94.0 million market cap at the 2026-10-13 close. That means the company burns nearly its entire market value in a year. The balance sheet shows no debt by D/E 0.00, but FairStock ratios show ROE -138.17%, ROCE -66.80%, P/B 0.74, Piotroski 1/9, Altman Z-Score -3.20, and a FairStock Score of 30/100. The Lynch category is none because it lost money in each of the last four years. There is no demonstrated moat; the investment case rests on clinical trials, not on current business economics. At $6.89, the stock may look statistically cheap versus book value, but a negative-cash-flow biotech is speculation unless the science and financing become self-sustaining. I would need evidence of progress and a stronger balance sheet before calling it a value investment.

In plain English: Immunic is a clinical-stage biotech trying to develop oral medicines for chronic inflammatory and autoimmune diseases. The business is not yet strong: it has no reported revenue and keeps losing money, including a net loss of $34.1 million in the quarter ended June 30, 2026. The stock looks inexpensive compared with its accounting value, but because there are no profits and cash is being spent quickly, it is not a safe-looking value case on the numbers alone.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer