BVF PARTNERS L P/IL enters IMMUNIC, INC. with 7.59M shares plus derivative instruments

Holding both equity and derivatives at entry signals strong long-term conviction in the company.

Direct Derivatives

BVF PARTNERS L P/IL

Filed: 2/27/2026ACC: 0000921895-26-000568

InsiderBVF PARTNERS L P/ILCIK 1055947

→

IssuerIMMUNIC, INC.CIK 1280776

DirectorOther

Since Feb 2026

7.59M

Baseline shares

100% direct

7.59M

Direct ownership

3 positions

126.52M

Derivative underlying

12 instruments

Security positions

All direct

Non-Derivative Holdings3

Common Stock, $0.0001 par value

Direct

Shares owned4.14M

Common Stock, $0.0001 par value

Direct

Shares owned427.63K

Common Stock, $0.0001 par value

Direct

Shares owned3.03M

Total

7.59M direct7.59M

Security Title	Shares Owned	Ownership Type
Common Stock, $0.0001 par value	4.14M	Direct
Common Stock, $0.0001 par value	427.63K	Direct
Common Stock, $0.0001 par value	3.03M	Direct
Total	7.59M	7.59M direct

Derivative Holdings12

Pre-Funded Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

4.50M

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Pre-Funded Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

6.82M

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Pre-Funded Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

444.45K

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Pre-Funded Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

3.51M

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Pre-Funded Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

28.80M

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Pre-Funded Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

912.81K

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Pre-Funded Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

5.28M

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

3.20M

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

20.53M

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

28.80M

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Pre-Funded Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

20.53M

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Pre-Funded Warrants to Purchase Common Stock

Direct

Underlying security

Common Stock, $0.0001 par value

Underlying shares

3.20M

Shares owned

N/A

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

126.52M

Owned

0.00

Security	Underlying	Exercise Window	Expiration	Underlying Shares	Shares Owned
Pre-Funded Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	4.50M	N/A
Pre-Funded Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	6.82M	N/A
Pre-Funded Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	444.45K	N/A
Pre-Funded Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	3.51M	N/A
Pre-Funded Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	28.80M	N/A
Pre-Funded Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	912.81K	N/A
Pre-Funded Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	5.28M	N/A
Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	3.20M	N/A
Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	20.53M	N/A
Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	28.80M	N/A
Pre-Funded Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	20.53M	N/A
Pre-Funded Warrants to Purchase Common Stock Direct	Common Stock, $0.0001 par value	—	—	3.20M	N/A
Total				126.52M	0.00