IMV Inc. (IMV) Receives NASDAQ Delisting Notice

IMV Inc. (Nasdaq: IMV), a clinical-stage biopharmaceutical company developing a portfolio of immune-educating therapies based on its novel DPX® platform to treat solid and hematologic cancers, today announced that it was notified by the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") that Nasdaq, in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, has in exercising its discretion determined to delist the Company's common shares as a result of the Company's announcement on May 1, 2023 that the Nova Scotia Supreme Court had issued an initial order (the “Initial Order”) granting the Company and its subsidiaries protection under the Companies’ Creditors Arrangement Act (R.S.C., 1985, c. C-36) (the “CCAA”). The Company also announced on such date that it will seek the recognition of the Initial Order in the United States by filing a petition commencing proceedings under the Chapter 15 of the United States Bankruptcy Code. Nasdaq informed the Company that trading in the Company's common shares would be suspended at the opening of business on May 11, 2023, and a Form 25-NSE will be filed with the United States Securities and Exchange Commission, which will remove the Company’s common shares from listing on the Nasdaq.

IMV previously announced on March 31, 2023, its receipt of a letter from the Nasdaq Listing Qualifications Department regarding its failure to meet the minimum bid price of US$1.00 per share required for continued listing on Nasdaq pursuant to Nasdaq Listing Rule 5550(a)(2).

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