Immunic Inc (Nasdaq: IMUX), a clinical-stage biopharmaceutical company focused on developing best-in-class, oral therapies for the treatment of chronic inflammatory and autoimmune diseases, announced on Friday that it has promoted Glenn Whaley, principal accounting officer and controller, to the position of vice president finance, effective immediately.

The company added that its chief financial officer, Sanjay S. Patel, CFA, has resigned to pursue opportunities in the nonprofit sector.

Whaley is to assume day-to-day financial management responsibilities, and will report directly to Daniel Vitt, PhD, chief executive officer and president.

Also with effect from 17 April 2020, Immunic's current chairman of the board of directors, Duane Nash, MD, JD, MBA, will temporarily assume the role of executive chairman.

Vitt stated: "We are pleased to have promoted Glenn to vice president finance, as he has proven to be instrumental in running our U.S. operations and financial reporting functions. As such, we are confident that under his leadership, operations will continue in a seamless fashion. I very much look forward to continuing to work closely with both Glenn and Duane as we further develop the company and advance our pipeline of three highly attractive small molecule candidates. In addition, I wish Sanjay the best for his future endeavours."