IMV Inc. (IMV) Reports Q1 Loss of $0.19

IMV Inc. (NASDAQ: IMV) reported Q1 EPS of ($0.19), versus ($0.13) reported last year.

• Phase 2 SPiReL study of DPX-Survivac combination regimen with Keytruda® in r/r DLBCL successfully reached primary efficacy endpoint with 64% (7/11) of evaluable patients demonstrating a clinical response
• Translational and updated clinical response data from Phase 2 DeCidE1 study of DPX-Survivac in advanced ovarian cancer to be presented by Oliver Dorigo, MD, Ph.D., at the upcoming 2020 ASCO Virtual Scientific Program
• DPX-COVID-19, a vaccine candidate against COVID-19, on schedule to complete preclinical studies before the end of May and progressing towards initiation of Phase 1 study expected this summer
• Completed CAD $25.1M private placement with new and existing institutional investors, extending cash runway well into 2021

“Despite the current pandemic, we have continued to validate our platform and advance our clinical pipeline targeting various cancers and other serious diseases, including COVID-19,” said Frederic Ors, Chief Executive Officer at IMV. “Today, we are especially pleased to announce that SPiReL, a Phase 2 study of a DPX-Survivac combination regimen in patients with r/r DLBCL, has met its primary efficacy endpoint. This represents a significant milestone for DPX-Survivac, which has so far demonstrated the ability to shrink both solid and hematological tumors with long-lasting clinical responses and a differentiated safety profile. We believe these results in r/r DLBCL, taken together with emerging data from our DeCidE1 study in advanced ovarian cancer, support our plan to accelerate development in both of these indications.”

Mr. Ors continued, “Our recent financing fortifies our corporate position, with cash to fund operations for more than 12 months and several milestones anticipated across our portfolio in the interim. We look forward to presenting translational and updated clinical response data from DeCidE1 at the ASCO20 Virtual Scientific Program, and to further updates from each of our Phase 2 studies of DPX-Survivac later this year. Additionally, we are preparing to advance a DPX-based vaccine candidate for COVID-19, which is on track to enter into clinical trials later this summer.”

For earnings history and earnings-related data on IMV Inc. (IMV) click here.

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