Immunic Inc. (NASDAQ: IMUX) received notice from Nasdaq that it has regained compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, the biotechnology company announced.

The company received written notice from Nasdaq's Listing Qualifications Department on March 27 stating that Immunic satisfied the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The company's common stock maintained a closing bid price of $1.00 per share or greater for at least 20 consecutive business days, meeting the requirement on March 26.

Nasdaq has closed the matter following Immunic's compliance with the minimum bid price rule.

Immunic develops oral therapies for neurologic diseases. The company's lead program, vidofludimus calcium, is currently in phase 3 clinical trials for relapsing multiple sclerosis treatment, with top-line data expected by the end of 2026.

The drug candidate has shown therapeutic activity in phase 2 clinical trials for relapsing-remitting multiple sclerosis, progressive multiple sclerosis and other diseases. Vidofludimus calcium functions as a nuclear receptor-related 1 activator and selectively inhibits dihydroorotate dehydrogenase.

Immunic's development pipeline includes earlier-stage programs IMU-856 and IMU-381, targeting neurodegenerative, chronic inflammatory and autoimmune-related diseases.