HomeTop MoversIMV stock plunge during pre-market trading session, despite any current update

IMV stock plunge during pre-market trading session, despite any current update

IMV Inc. (NASDAQ: IMV) stock gained by 4.12% at last close whereas the IMV stock-price declines by 6.21% in the pre-market trading session. IMV Inc. is a clinical-stage pharmaceutical business focused on improving the efficacy, applicability, and availability of immunotherapy for people with difficult-to-treat cancers and other serious medical needs.

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IMV stock’ Recent Past Development

On Aug 11, 2021, IMV reported its second-quarter 2021 financial outcomes. Given below are the highlights:

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  • IMV had $22.8 million in cash and cash equivalents and $24.6 million in working capital on June 30, 2021, relative to $36.3 million and $35.6 million at December 31, 2020.
  • For the three months ending June 30, 2021, research and development expenses were $5.2 million, compared to $3.8 million for the same period in 2020. Startup expenditures for the Phase 2B study in DLBCL, the schedule of manufacturing activities for MVP-S and DPX-SurMAGE, and an increase in manpower all contributed to the $1.4 million increase.
  • For the second quarter, general and administrative expenses were $3.4 million, up from $2.2 million in Q2 2020.
  • For the second quarter 2021 the total loss and comprehensive loss was $7.4 million ($0.11 per share) which is a rise of $2.6 million from the net loss and comprehensive loss of $4.8 million ($0.08 per share) for the same period in 2020.
  • The number of issued and outstanding common shares was 82,142,629 as of August 10, 2021, with a total of 15,705,452 stock options, warrants, and deferred share units outstanding.

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Other Development in IMV Stock

The DeCidE1 Phase 2 clinical trial testing maveropepimut-S (MVP-S, formerly known as DPX-Survivac) in patients with significant recurrent ovarian cancer has reached its final topline results, according to IMV.

Oliver Dorigo, Principal Investigator of the DeCidE1 study and Director of the Gynecologic Oncology Service at Stanford University stated,

The DeCidE1 trial’s aggregate results are extremely encouraging. Treatment was well accepted, with a 44.9 percent overall survival rate and a median overall survival of 19.9 months after 23.8 months of follow-up. Because majority of the participants in the experiment had been substantially pre-treated and 57.9% were platinum resistant, these results are quite encouraging. These findings suggest that maveropepimut-S should be studied further in ovarian cancer clinical trials.

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