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

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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