STOCKS TELEGRAPH

Tag: IMV Inc

  • IMV Inc. Undergoes Drastic Shifts to Attain High Value

    IMV Inc. (NASDAQ: IMV) is a biotech player which describes itself as an ‘immuno-ocology company’. It has recently undertaken a number of major restructuring initiatives which it claims is part of a wider value-creating strategy.

    IMV Downsizes a Third of its Total Strength

    IMV is presently cutting down its staff size by 33%, in lieu of an operational shift, it has initiated, which will see its focus exclusively placed on the DPX platform, in which its prime candidate, MVP-S is currently under development. The decision comes following less than favorable trial results of its other candidates. MVP-S focuses primarily upon immuno-ocology. Another area where this restructure has been observed has been in the board structure, where Brittany Davison has been promoted to IMV’s Chief Accounting Officer and has been replaced by Saman Maleki, a Professor of Medical Biophysics, Pathology, and Oncology. The move highlights a shift to a more technically well-versed governance structure, better able to provide leadership to the company, given its broader ambitions.

    The Wider IMV Reorientation

    IMV’s decision to downsize and refocus resources on the DPX platform does not come in isolation. The move is part of a company-wide reorientation aiming at ensuring cash optimization. By letting go of low-promise trial candidates, IMV is essentially accelerating its Maveropepimut class of trials which are approaching several value-creating milestones within the short term. The move would boost the company’s financial sustainability as a whole, and help shed high-risk baggage with low prospects. Results of the chosen trials appear highly promising and give the company a much-needed go-ahead to proceed to phase IIb trials.

    Conclusion

    IMV stock sees itself as being at a turning point, which is essentially a make-or-break junction for the company. The recent downsizing must be in no way a last-ditch effort at ensuring survival. It is rather an acceleration in IMV’s most valuable domains.

  • 3 NASDAQ Stocks That Are Pumping Even As the Index Stumbles

    3 NASDAQ Stocks That Are Pumping Even As the Index Stumbles

    It’s a mixed bag in the U.S markets today. The Dow Jones and the S&P 500 have gained, while the NASDAQ has declined. The S&P 500 and the Dow’s gains are driven by a recovery in energy stocks and strong earnings in the finance sector, with JP Morgan leading the way with strong quarterly earnings. The NASDAQ’s drop is mainly due to the underperformance of the big tech stocks in the early morning session. However, even as the NASDAQ lags, certain stocks within it and performing very well today. Some of the biggest winners currently are COVID-19 related stocks. Narrowing down, below are some of the best performers in this session.

    IMV Inc [NASDAQ:IMV]

    Though volatile, this stock is a top performer in mid-morning trading, and is up by 51.67%. This comes after the company’s announcement that it had made rapid progress in the development of a COVID-19 vaccine. The company said that it was working with regulators to start clinical trials in the quickest time possible.  It further added that as per its agreement with Health Canada, the first phase clinical study will be randomized and aims to check the immunogenicity and safety for its vaccine called DPX-COVID-19. Given the fact that the whole world is looking forward to a cure or a vaccine for COVID-19, breakthrough on this front could see this stock gain significantly in the foreseeable future.

    Rigel Pharmaceuticals Inc [NASDAQ:RIGL]

    Rigel Pharmaceuticals Inc is another top gainer in the current session and is up by 64.35%. This follows news that a drug that is used for treating autoimmune disorders will be tested in the U.K for treating COVID-19 pneumonia.  The company further stated that the Imperial College London will do an open-label trial for the treatment called Tavalisse. Like other COVID-19 related stocks, a breakthrough on this front could see the stock rally in the foreseeable future.

    Perceptron Inc [NASDAQ:PRCP]

    Perceptron is in a strong rally at the moment, and at the time of writing, it was up by107.82%. The stock’s strong performance follows news that the company has received new order support for its upcoming electric vehicle.  Global Newswire has reported that a Tier-1 auto supplier has selected the company’s in-line measurement technology for its battery frame, lid, and compartment measurements in an upcoming EV launch. Commenting on the deal, Perceptron’s Vice President John Kearney said that the order was the first major order the company has received from a global tier-1 supplier.  He added that in recent times, the company has recorded an increase in demand as auto OEMs seek out ways to streamline their operations. With growing demand and now the entry of a tier-1 supplier, this stock will be on investor’s radar for the foreseeable future.