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Why Is Immunic (IMUX) Stock Up 23% Today?


  • Immunic (IMUX) stock is rising alongside clinical trial results.
  • Positive results from a Phase 2 trial are behind today’s gains.
  • That news brings with it heavy trading of IMUX stock.
IMUX Stock - Why Is Immunic (IMUX) Stock Up 23% Today?

Source: aslysun / Shutterstock.com

Immunic (NASDAQ:IMUX) stock is getting a boost on Wednesday after the company released results from its Phase 2 CALDOSE-1 Trial.

This study had it testing the effectiveness of vidofludimus calcium as a treatment for moderate-to-severe ulcerative colitis (UC). The good news here is that vidofludimus calcium was successful at improving remission rates over a 50-week period.

At a 10 milligram (mg) dose, vidofludimus calcium’s remission rate was 42.3%. When increasing that to a 30 mg dose, the remission rate increased to 61.5%. To put those numbers in perspective, the remission rate for patients in the placebo group was 27.8%.

Daniel Vitt, President and CEO of Immunic, said the following about the news:

“Although we do not intend to initiate phase 3 development of vidofludimus calcium in UC on our own and without additional funding and resource allocation, based on this encouraging outcome, we will explore an exciting variety of options for the UC program as well as other inflammatory bowel disease (IBD) indications.”

What This Means for IMUX Stock

The positive clinical trial news means that Immunic may end up developing vidofludimus calcium further with the help of a partner. If that comes to pass, it could mean another boost for IMUX stock past today’s gains.

IMUX stock is on the rise today as investors buy up shares. This has heavy trading taking place with some 7 million shares traded as of this writing. For the record, the company’s daily average trading volume is closer to 1 million shares.

IMUX stock is up 22.6% during pre-market trading on Wednesday!

Investors seeking all of the latest stock market news will want to keep reading!

We’ve got all of the hottest stock market news traders need to know about on Wednesday! That includes what’s happening with shares of 180 Life Sciences (NASDAQ:ATNF), the biggest pre-market stock movers this morning and more. You can find out more on these matters at the links below!

More Wednesday Stock Market News

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Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/04/why-is-immunic-imux-stock-up-23-today/.

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