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IMV Receives Nasdaq Notification Concerning Market Worth of Listed Securities

 

Creator of the article:

Business Wire

Publishing date:

Nov 25, 2022  •  22 minutes in the past  •  4 minute learn

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DARTMOUTH, Nova Scotia, & CAMBRIDGE, Mass. — IMV Inc. (“IMV” or the “Firm”) (NASDAQ: IMV; TSX: IMV), a clinical-stage firm creating a portfolio of immune-educating therapies based mostly on its novel DPX® platform to deal with stable and hematologic cancers, at the moment introduced that, on November 22, 2022, the Firm acquired a notification letter from the Itemizing {Qualifications} Division of The Nasdaq Inventory Market LLC (“Nasdaq”) indicating that the Firm’s Market Worth of Listed Securities (“MVLS”) for the final 30 consecutive enterprise days was under the required minimal of US$35 million for continued itemizing on Nasdaq underneath Nasdaq Itemizing Rule 5550(b)(2).

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The notification letter is simply a notification of deficiency and has no instant impact on the itemizing or buying and selling of IMV’s frequent shares. The Firm will proceed to commerce on the Nasdaq Capital Market underneath the image “IMV”, topic to the Firm’s compliance with the opposite itemizing necessities. The Firm’s frequent shares are additionally listed on the Toronto Inventory Alternate, and the notification letter doesn’t have an effect on the Firm’s compliance standing with such itemizing.

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The letter additionally indicated that the Firm can be supplied with a compliance interval of 180 calendar days, or till Could 22, 2023, wherein to regain compliance pursuant to Nasdaq Itemizing Rule 5810(c)(3)(C). If at any time earlier than Could 22, 2023, the Firm’s MVLS closes at or above US$35 million for at least ten consecutive enterprise days, Nasdaq will present written notification that the Firm has achieved compliance underneath the MVLS requirement, and the matter can be closed. Within the occasion the Firm doesn’t regain compliance by Could 22, 2023, the Firm could face delisting.

The Firm’s enterprise operations will not be affected by the receipt of the notification letter and the Firm totally intends to regain compliance with Nasdaq itemizing guidelines. The Firm will actively monitor its MVLS and is evaluating all accessible choices to regain compliance with Nasdaq’s continued itemizing standards.

Particular Assembly of Shareholders

Shareholders are reminded of the upcoming particular assembly of shareholders to contemplate the proposed consolidation of IMV’s complete issued and excellent shares. Two main unbiased proxy advisors have issued suggestions for IMV shareholders to vote FOR the proposed share consolidation. The particular assembly is being held on December 7, 2022 at 11:00 a.m. (Jap Time). We encourage you to vote your shares properly prematurely of the proxy voting deadline on December 5, 2022 at 11:00 a.m. (Jap Time). For any questions or if you happen to require help with voting your shares, please contact our proxy solicitation agent, Laurel Hill Advisory Group at 1-877-452-7184 (North America Toll Free), 416-304-0211 (Calls Outdoors North America) or by electronic mail at help@laurelhill.com.

About IMV

IMV Inc. is a clinical-stage immuno-oncology firm advancing a portfolio of therapies based mostly on the Firm’s immune-educating platform, DPX™. By a differentiated mechanism of motion, the DPX platform delivers instruction to the immune system to generate a particular, sturdy, and protracted immune response. IMV’s lead candidate, maveropepimut-S (MVP-S), delivers antigenic peptides from survivin, a well-recognized most cancers antigen generally overexpressed in superior cancers. MVP-S additionally delivers an innate immune activator and a common CD4 T cell helper peptide. These parts foster maturation of antigen presenting cells in addition to sturdy activation of CD8 T cell effector and reminiscence operate. MVP-S remedy has been properly tolerated and has demonstrated outlined scientific profit in a number of most cancers indications in addition to the activation of a focused and sustained, survivin-specific anti-tumor immune response. MVP-S is presently being evaluated in scientific trials for hematologic and stable cancers, together with Diffuse Giant B Cell Lymphoma (DLBCL) in addition to ovarian, bladder and breast cancers. IMV can be creating a second immunotherapy leveraging the DPX immune supply platform, DPX-SurMAGE. This dual-targeted immunotherapy combines antigenic peptides for each the survivin and MAGE-A9 most cancers proteins to elicit immune responses to those two distinct most cancers antigens concurrently. A Part 1 scientific trial in bladder most cancers, utilizing MVP-S or DPX-SurMAGE, was initiated in early 2022. For extra data, go to www.imv-inc.com and join with us on Twitter and LinkedIn.

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IMV Ahead-Trying Statements

This press launch comprises forward-looking data underneath relevant securities legislation. All data that addresses actions or developments that we count on to happen sooner or later is forward-looking data. Ahead-looking statements use such phrase as “will”, “could”, “potential”, “consider”, “count on”, “proceed”, “anticipate” and different comparable terminology. Ahead-looking statements are based mostly on the estimates and opinions of administration on the date the statements are made. On this press launch, such forward-looking statements embody, however will not be restricted to, statements concerning IMV’s capability to take care of its Nasdaq itemizing past the compliance interval. IMV Inc. assumes no duty to replace forward-looking statements on this press launch besides as required by legislation. These forward-looking statements contain recognized and unknown dangers and uncertainties, and people dangers and uncertainties embody, however will not be restricted to, these associated to the Firm’s anticipated timeline related to its money runway; the Firm’s priorities with MVP-S and its DPX supply platform, the potential for its supply platform and the anticipated timing of enrollment and outcomes for its scientific trial packages and research as others dangers detailed infrequently in our ongoing quarterly filings and annual data kind. Buyers are cautioned to not depend on these forward-looking statements and are inspired to learn IMV’s steady disclosure paperwork, together with its present annual data kind, in addition to its audited annual consolidated monetary statements which can be found on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.

View supply model on businesswire.com: https://www.businesswire.com/information/dwelling/20221125005235/en/

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Contacts

Investor Relations

Irina Koffler, Managing Director, LifeSci Advisors
O: (646) 970-4681
M: (917) 734-7387
E: ikoffler@lifesciadvisors.com

Media

Delphine Davan, Senior Director, Communications and Investor Relations, IMV Inc.
O: (902) 492.1819 ext: 1049
E: ddavan@imv-inc.com

Madeline Joanis, Senior Account Govt, LifeSci Communications
M: (603) 479 5267
E: mjoanis@lifescicomms.com

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