Multiple Sclerosis Is A Crowded Space, But This Stock Is A Potential 6X Multi-bagger

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  • HC Wainwright assumes coverage on Immunic Inc IMUX, a late-stage clinical biotech company developing oral small molecule inhibitors for multiple sclerosis (MS) and psoriasis. 
  • The analyst issued a Buy call on the stocks with a price target of $26.
  • Lead drug vidofludimus calcium (IMU-838) is a novel oral DHODH inhibitor and Farnesoid X receptor (FXR) ligand currently in Phase 3 trials for relapsing MS (RMS) and Phase 2 trials for progressive MS (PMS). 
  • HC Wainwright notes FDA-approved Sanofi SA SNY Aubagio is a DHODHi, but without a clean safety profile, it still generated over $2 billion in sales in 2020. 
  • IMU-838 has already succeeded in a Phase 2 trial for MS with a clean safety profile. 
  • IMU-838 showed significant protection against serum neurofilament level (sNfL) increases, a neuronal damage marker, similar to reductions seen with Roche Holding AG's RHHBY successful Ocrevus, relatively recent (2017) launch in the "crowded" Multiple Sclerosis space. 
  • The analyst notes that IMU-838 could be the first oral to offer neuroprotection to Multiple Sclerosis patients and will gain market share in progressive MS, making its launch distinct from other oral MS drugs.
  • Price Action: IMUX shares are trading at $3.91 on the last check Monday.
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