Immunic

Q2 FY2026 EarningsQ2 FY26 results slightly missed consensus on the bottom line, with a net loss of $34.1M compared to the $31.4M expected. EPS of -$0.80 beat the mean consensus of -$1.16, though this was primarily driven by a significantly higher weighted-average share count following the February 2026 private placement. Operating expenses rose 30% YoY to $35.3M, fueled by heavy non-cash stock compensation and increased R&D for NDA-enabling studies, while the cash position remains robust at $155.1M to support Phase 3 programs.