IMV - IMV STOCK NEWS

IMV Inc. has announced a registered direct offering for the sale of 3,448,276 common shares and warrants at a price of US$2.61 per share. The offering aims to raise approximately US$9 million, which will be allocated for the clinical development of its lead candidate, maveropepimut-S, in treating DLBCL and ovarian cancer, as well as for ongoing trials and general corporate purposes. The offering is expected to close on or about December 20, 2022. H.C. Wainwright & Co. is the exclusive placement agent for this transaction.

IMV Inc. announced encouraging initial results from its VITALIZE Phase 2B trial of MVP-S, a treatment for relapsed, refractory Diffuse Large B Cell Lymphoma (r/r DLBCL). Patients who received at least three prior treatments showed complete responses, highlighting the potential of MVP-S in challenging cases. The trial involves up to 102 subjects and aims to evaluate the drug's efficacy when combined with pembrolizumab. Detailed results will be presented at the Immuno-Oncology 360° conference in February 2023, indicating a positive milestone for the company's immunotherapy portfolio.

IMV Inc. has announced the commencement of trading of its common shares post-consolidation, effective December 7, 2022, under the ticker IMV on Nasdaq. This share consolidation, approved by shareholders, occurs on a 1-for-10 basis, aimed at meeting Nasdaq's minimum bid price requirement of US$1.00 per share. IMV is a clinical-stage biopharmaceutical company focused on immune-educating therapies for solid and hematologic cancers, leveraging its DPX platform for cancer treatment.

IMV Inc. announced that shareholders approved a 1-for-10 reverse stock split at a special meeting on December 7, 2022. This consolidation will take effect at 5:00 PM ET on the same day, with trading on a split-adjusted basis beginning on December 13, 2022. The split aims to maintain compliance with Nasdaq's minimum bid price requirements. Following the split, approximately 8.24 million shares will be outstanding. The reverse stock split was approved by 87.87% of votes cast.

IMV Inc. received a notification from Nasdaq regarding a deficiency in its Market Value of Listed Securities, which fell below the required $35 million for continued listing. The company has until May 22, 2023, to regain compliance. Despite this, trading of IMV shares will not be affected immediately, and it will continue to monitor its compliance status. Additionally, IMV will hold a special meeting on December 7, 2022, to consider a proposed share consolidation, which has received positive recommendations from independent proxy advisors.

IMV announced its financial and operational results for Q3 2022, highlighting progress in clinical trials for the immune-educating therapy MVP-S, aimed at treating various cancers. The VITALIZE Phase 2B trial for r/r DLBCL and AVALON Phase 2B trial for ovarian cancer are key focuses, with results expected in early 2023. The company restructured operations, reducing its workforce by one-third to concentrate resources on MVP-S. Financially, IMV reported a net loss of $8.9 million for Q3 2022, with cash reserves at $21.7 million, compared to $38.6 million at the end of 2021.

IMV Inc. (Nasdaq: IMV; TSX: IMV) announced a conference call and webcast scheduled for November 11, 2022, at 8:00 a.m. ET to discuss its 2022 third quarter financial and operational results. Analysts can register via a provided link, while others can access the audio webcast on IMV's website. The company focuses on developing therapies using its DPX platform to treat cancers, with lead candidate maveropepimut-S (MVP-S) showing promise in clinical trials.

IMV Inc. (Nasdaq: IMV) announced recent progress in its VITALIZE study, evaluating maveropepimut-S (MVP-S) for relapsed or refractory diffuse large B cell lymphoma (r/r DLBCL). Enrollment has accelerated, indicating strong interest in MVP-S, which combines with pembrolizumab and low-dose cyclophosphamide. The company aims to validate MVP-S and its DPX platform through Phase 2b trial outcomes, with findings expected to be presented at a scientific conference in early 2023. Positive clinical results indicate MVP-S's potential in enhancing patient responses in this challenging cancer type.

IMV Inc. has announced a strategic reorganization aimed at enhancing shareholder value. This includes a significant workforce reduction of about one third to concentrate resources on key clinical programs, particularly the Phase 2B VITALIZE trial for relapsed/refractory DLBCL and the AVALON trial for advanced ovarian cancer. Dr. Saman Maleki has been appointed to the Board of Directors, and Brittany Davison has been promoted to Chief Accounting Officer. An early clinical update on the VITALIZE trial is set for September.