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Vital Therapies ($VTL) Rallies 145% After Board Approves All Stock Merger With Immunic AG Merger - This Is JUST THE BEGINNING.

|Includes: Immunic, Inc. (IMUX)

Vital Therapies' (NASDAQ:VTL) stockholders approved the proposals required to complete the business combination with Immunic AG.

Approximately 98.82% of the shares voted in favor of the Exchange Agreement proposal. The merger is expected to be consummated by mid-April.

On September 12, 2018 Vital Therapies gapped down from $7.10/share to $0.40/share, in a single day after the company's VTL-308 study failed to meet both primary and secondary endpoints.

I believe Vital Therapies' proprietary ELAD® technology and VTL-308 study results were flawed due to having been evaluated by the controversial Kaplan Meier statistical method model. Management went so far as to state, "while there was a numerical improvement in survival in the ELAD-treated group between three months and one year following randomization," before ending with the miss on both primary and secondary endpoints under the Kaplan Meier statistical method model.

The all stock merger of Vital Therapies and Immunic AG creates immediate value for investors as Vital Therapies ELAD® technology and Immunic AG's robust pipeline of candidates are brought together in a truly synergistic deal.

More details coming - work in progress.

Disclosure: I am/we are long VTL.