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Stock Alert: Immunic Shares Jump 35% In Late Trade

Shares of Immunic Inc. (IMUX) climbed $3.57 or 35.07% to $13.75 in the after-hours trading session on May 13, after the company announced that it has received first regulatory approval from Germany's BfArM (Bundesinstitut für Arzneimittel und Medizinprodukte) to initiate a phase 2 clinical trial of its selective oral DHODH inhibitor, IMU-838, in coronavirus disease 2019 (COVID-19).

The CALVID-1 study is a prospective, multicenter, randomized, placebo-controlled, double-blind phase 2 clinical trial in approximately 230 patients with moderate COVID-19, designed to evaluate efficacy, safety and tolerability of IMU-838. Dosing of the first patient is expected to occur later this month, and the top-line data is expected to be available later this year, the company said.

Immunic recently announced that IMU-838 had successfully demonstrated preclinical activity against severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Specifically, IMU-838 was observed to inhibit replication of clinical isolates of SARS-CoV-2 associated with COVID-19.

The stock has been trading in the range of $4.19 - $19.05 for the past one year, and closed Wednesday's trade at $10.18, down 52 cents or 4.86%. Trading volume increased to 256K versus an average volume of 104K shares.

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