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Relapsing Remitting Multiple Sclerosis: one US-listed biotech with a clinical-stage programme

Neurology & PsychiatryUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$174Muniverse median $1.20B
Allocated capital$87M$174M competing
Phase 3 or filed10 mid, 0 early
Pure plays0this indication only
Capital rank278/299crowding rank 278

Relapsing Remitting Multiple Sclerosis is uncontested. Immunic (IMUX) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with IMU-838 in phase 3.

There is no public comparable to price it against. IMUX spreads its $174M market cap across 2 indications, so $87M of it is allocated here.

The one programme here is in late-stage development, with 1 dated catalyst in the next 12 months.

$87M of allocated capital sits in Relapsing Remitting Multiple Sclerosis, ranking it 278th of 299 indications by the money committed to it.

Companies developing drugs for Relapsing Remitting Multiple Sclerosis 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
IMUXImmunicIMU-838Phase 31$174MNo2 31 Dec 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Relapsing Remitting Multiple Sclerosis counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Relapsing Remitting Multiple Sclerosis has one competitor and a median of $174M.

Neurology & Psychiatry

Neurology & Psychiatry holds $120B of the map's capital, 17.9% of the total, spread across 46 indications and 58 companies. 19 of those indications have more than one company competing.

See every Neurology & Psychiatry indication on the map

Related indications in Neurology & Psychiatry

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Relapsing Remitting Multiple Sclerosis pipeline questions

Which biotech companies are developing drugs for Relapsing Remitting Multiple Sclerosis?

Immunic (IMUX, IMU-838, Phase 3). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Relapsing Remitting Multiple Sclerosis.

How advanced is the Relapsing Remitting Multiple Sclerosis pipeline?

Of the 1 clinical-stage programme in Relapsing Remitting Multiple Sclerosis, 1 is in Phase 3 or filed, 0 are in mid-stage development and 0 are in early-stage development.

Is anyone else developing a drug for Relapsing Remitting Multiple Sclerosis?

No. IMUX is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Relapsing Remitting Multiple Sclerosis, which is why the indication is classified as uncontested.

When is the next Relapsing Remitting Multiple Sclerosis catalyst?

The next dated catalyst in Relapsing Remitting Multiple Sclerosis is IMUX on 31 Dec 2026. 1 dated event across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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