IMV Inc. stock announced final topline results of DeCidE1 Clinical Trial after that the stock had become bullish today. IMV stock price saw a surge of 28.63% to reach $2.16 a share as today on August 10, 2021, as of this writing. The stock was down in the last trade and dropped by 2.33% at closing. Let’s discuss the recent events of the stock in detail.
DeCidE1 Clinical Trial:
About:
DeCidE1 is the Phase 1b/2 randomized, multicenter open-label study of IMV stock for the evaluation of maveropepimut-S(MVP-S) in patients with advanced ovary cancer. 22 patients suffering from ovary cancer participated in this study. Initially, patients received 2 MVP-S subcutaneous injections with a gap of three weeks and then eight weeks thereafter. A low dose of CPA with one week off and one week on has been given to patients till the end of treatment. Tumor biopsies were performed before and during the treatment.
Primary and Secondary endpoints
Safety, disease control rate, and the overall response rate were the primary endpoints of the study of IMV stock. Overall survival, response duration, progression time, cell-mediated immunity, immune cell infiltration in paired biopsy samples were the secondary endpoints.
Results:
The results of the study were promising, and treatment showed a 44.9% overall survival rate at 23.8 months of follow-up. The study showed a median overall survival of 19.9 months. 57.9% of patients were platinum-resistant to the heavy treatment. The trial management is optimistic that these results will support the further study of maveropepimut-S in ovarian cancer. The translational analysis has confirmed that maveropepimut-S generates tumor antigen-specific T cells. IMV stock has submitted the translational data for the presentation in the upcoming scientific meetings.
Public Offering of IMV stock:
IMV stock on July 15, 2021, did announce the pricing of the underwritten public offering of 14,285,714 units. The price of each unit was US$1.75, and the offering closed on July 20, 2021. Each unit consisted of one common share and three-quarters of one common share purchase warrant. The gross proceeds from this offering were approximately US$25 million before cutting underwriter commissions and other offering-related expenses.IMV stock planned to use net proceeds for its various clinical trials, drug delivery platform development, and general corporate purposes.
Wrap Up:
Investors are responding positively to the release of topline results of the DeCidE1 Clinical Trial. IMV stock will announce second-quarter 2021 financial results on August 11, 2021, which will further decide the fate of the stock.
