ImmunInc Reports Net Loss of $49.3 Million in Q2 2023

ImmunInc,(IMUX) a leading biot echnology company, has released its unaudited financial statements for the second quarter of 2023. The company reported a net loss of $49.3 million for the quarter, reflecting the impact of operating expenses and other income (expense). Meanwhile, the company's revenue stood at $1.0 million for the same period.

Condensed Consolidated Balance Sheets

As of June 30, 2023, ImmunInc's total assets amounted to $88.7 million, compared to $127.8 million at the end of December 2022. The company's current assets, including cash and cash equivalents, investments, and prepaid expenses, reached $86.6 million. Meanwhile, its long-term assets, such as property and equipment, right-of-use assets, and other long-term assets, amounted to $2.2 million.

In terms of liabilities and stockholders' equity, ImmunInc reported total liabilities of $19.5 million, up from $14.1 million as of December 31, 2022. The company's current liabilities, which include accounts payable, accrued expenses, and other current liabilities, amounted to $18.2 million. Additionally, ImmunInc had long-term liabilities of $1.2 million, mainly related to operating lease liabilities.