Immunic, Inc. Announces Promotion of Glenn Whaley, CPA to Chief Financial Officer
Immunic, Inc. (Nasdaq: IMUX) announced the promotion of Glenn Whaley, CPA, to the role of Chief Financial Officer, effective immediately. Whaley, who joined Immunic in 2019 and has held various finance roles, is recognized for his expertise and contributions to the company's financial operations. The CEO, Daniel Vitt, expressed confidence in Whaley's leadership as the company prepares for crucial data readouts from its lead product candidates, vidofludimus calcium and IMU-935, expected later this year. The company focuses on developing therapies for chronic inflammatory diseases.
- Glenn Whaley's promotion reflects confidence in leadership and strategic direction.
- Upcoming data readouts for product candidates could enhance market potential.
- Whaley's extensive experience in finance is expected to strengthen operational efficiency.
- Dependence on upcoming data readouts creates uncertainty regarding future performance.
NEW YORK, March 16, 2022 /PRNewswire/ -- Immunic, Inc. (Nasdaq: IMUX), a clinical-stage biopharmaceutical company developing a pipeline of selective oral immunology therapies focused on treating chronic inflammatory and autoimmune diseases, today announced that Glenn Whaley, CPA, who has served as Vice President Finance, Principal Financial and Accounting Officer since April 2020, has been promoted to the position of Chief Financial Officer.
"Glenn has done an outstanding job since joining the company in 2019 and his more than 30 years of experience in accounting and finance have been invaluable to the smooth running of our U.S. operations as we have continued to progress our pipeline and pursue the many opportunities before us," commented Daniel Vitt, Ph.D., Chief Executive Officer and President of Immunic. "With numerous important data readouts expected later this year for both our lead product candidate, selective oral DHODH inhibitor, vidofludimus calcium (IMU-838) and IMU-935, a potentially best-in-class oral IL-17 inhibitor, not to mention additional pipeline related activities, we are extremely pleased to have Glenn in this critical position."
Mr. Whaley added, "The milestones achieved in 2021 for both vidofludimus calcium and IMU-935 may result in data that could prove transformative for the company. I am honored to lead the finance team as Chief Financial Officer and look forward to continuing to execute on the company's operational and financial goals."
Mr. Whaley joined Immunic as Principal Accounting Officer and Controller in December 2019. In April 2020, he was promoted to Vice President Finance, Principal Financial and Accounting Officer. Prior to joining Immunic, he held roles of increasing responsibility at specialty pharmaceuticals company, Pernix Therapeutics, most recently serving as Vice President of Finance. Previously, Mr. Whaley was Vice President of Finance for Alvogen, Inc, a global pharmaceutical company, and he served in various key financial roles in public accounting and in the pharmaceutical and telecommunications industries.
Mr. Whaley holds a Bachelor of Science degree from Rutgers University Business School and is a Member of the New Jersey Society of Certified Public Accountants and the American Institute of Certified Public Accountants.
Immunic, Inc. (Nasdaq: IMUX) is a clinical-stage biopharmaceutical company with a pipeline of selective oral immunology therapies focused on treating chronic inflammatory and autoimmune diseases. The company is developing three small molecule products: its lead development program, vidofludimus calcium (IMU-838), a selective immune modulator that inhibits the intracellular metabolism of activated immune cells by blocking the enzyme DHODH and exhibits a host-based antiviral effect, is currently being developed as a treatment option for multiple sclerosis, ulcerative colitis, Crohn's disease, and primary sclerosing cholangitis. IMU-935, a selective inverse agonist of the transcription factor RORγ/RORγt, is targeted for development in psoriasis, castration-resistant prostate cancer and Guillain-Barré syndrome. IMU-856, which targets the restoration of the intestinal barrier function, is targeted for development in diseases involving bowel barrier dysfunction. For further information, please visit: www.imux.com.
This press release contains "forward-looking statements" that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, prospects, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to Immunic's three development programs and the targeted diseases; the potential for Immunic's development programs to safely and effectively target diseases; the nature, strategy and focus of the company and further updates with respect thereto; the development and commercial potential of any product candidates of the company; expectations regarding the capitalization, resources and ownership structure of the company; and the executive and board structure of the company. Immunic may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Such statements are based on management's current expectations and involve substantial risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, the COVID-19 pandemic, risks and uncertainties associated with the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient financial and other resources to meet business objectives and operational requirements, the fact that the results of earlier preclinical studies and clinical trials may not be predictive of future clinical trial results, the protection and market exclusivity provided by Immunic's intellectual property, risks related to the drug development and the regulatory approval process and the impact of competitive products and technological changes. A further list and descriptions of these risks, uncertainties and other factors can be found in the section captioned "Risk Factors," in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on February 24, 2022, and in the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov or ir.imux.com/sec-filings. Any forward-looking statement made in this release speaks only as of the date of this release. Immunic disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made. Immunic expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this press release.
Contact Information
Immunic, Inc.
Jessica Breu
Head of Investor Relations and Communications
+49 89 2080 477 09
jessica.breu@imux.com
US IR Contact
Rx Communications Group
Paula Schwartz
+1-917-322-2216
immunic@rxir.com
US Media Contact
KOGS Communication
Edna Kaplan
+1 781 639 1910
kaplan@kogspr.com
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SOURCE Immunic, Inc.
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