Immunic Inc 2025年度报告

☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember31, 2025or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromtoCommission File Number:001-36201Immunic, Inc.(Exact name of registrant as specified in its charter) 56-2358443 (I.R.S. Employer Identification No.) Suite 200NY 10036(Zip Code) (332) 255-9818(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of Each ClassTrading symbol(s)Name of each exchange on which registeredCommon Stock, $0.0001 par valueIMUXThe Nasdaq Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No☒Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes No☒ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 ofRegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit and postsuch files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smallerreportingcompany☒Emerging growth company☐ Largeacceleratedfiler☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal controlover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared orissued its audit report.☐If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b)☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐No☒ The aggregate market value of the common equity held by non-affiliates of the Registrant, based on the closing price of the common stock on The NasdaqStock Market on June 30, 2025 was $83.1million. On February 24, 2026, 130,464,825 shares of common stock, $0.0001 par value, were outstanding. Documents Incorporated by Reference: Certain portions of the registrant’s definitive Proxy Statement for its 2026 Annual Meeting of Stockholders areincorporated by reference into Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form 10-K. Immunic, Inc. ANNUAL REPORT ON FORM 10-K For the Fiscal Year Ended December31, 2025 Table of Contents PART I Item1.Business.Item1A.Risk Factors.Item1B.Unresolved Staff Comments.Item1C.CybersecurityItem2.Properties.Item3.Legal Proceedings.Item4.Mine Safety Disclosures. PART II Item5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities.Item6.Selected Financial Data.Item7.Management’s Discussion and Analysis of Financial Condition and Results of Operations.Item7A.Quantitative and Qualitative Disclosures About Market Risk.Item8.Financial Statements and Supplementary Data.Item9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.Item9A.Controls and Procedures.Item9B.Other Information.Item9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspection PART III Item10.Directors, Executive Officers and Corporate Governance.Item11.Executive Compensation.Item12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.Item13.Certain Relationships and