The stock of IMV Inc. (IMV) gained in the pre-market after the company announced that its first patient was dosed in the VITALIZE Phase 2B clinical trial in a press release. The stock of IMV was valued at around $1.31 in the pre-market gaining more than 3.97% from the previously closed value. At the end of the last trading session, the stock closed at $1.26. The volume of the stock traded in the last trading session was around 346.93K shares.
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Reason for the IMV stock gain
IMV Inc. (IMV) announced today that a first patient was dosed in the VITALIZE Phase 2B clinical trial in a press release. They will evaluate the drug to see the clinical benefit of IMV’s lead compound, omaveropepimut-S (MVP-S), in combination with Merck’s KEYTRUDA® (pembrolizumab). It will be observed in the patients that are diagnosed with relapsed/refractory DLBCL (diffuse large B cell lymphoma). In this trial, they will also observe the contribution of low-dose cyclophosphamide or CPA as an immune modulator.
This study defines a step forward for the registration of MVP-S. They believe this study will help them to understand the patients with r/r DLBCL and will also help them to find the benefits of VITALIZE in combination with KEYTRUDA. Furthermore, they said the study is open-ended and that they will evaluate the results in summer 2022.
Dr. Neil Berinstein presented a study at the ASH annual meeting in December 2020. He said that MVP-S when combined with KEYTRUDA generated much better clinical benefit and adverse events of grades 1 and 2. A 75% of objective response rate or ORR was observed in PD-L1+ patients.
Effect on the stock
As soon as the news went public, its stock gained in the pre-market. Investors most of the time invest in biotech firms that have the chance of approval from the FDA. The company is in the later stages of clinical trials for VITALIZE, that’s why investors were seen interested in the stock of IMV Inc. (IMV).
Conclusion
The stock of the IMV Inc. (IMV) has the chance to gain in the future as it is moving forward in the study. The VITALIZE is expected to get approved by the FDA, which will bring an increase in the revenue of the company.
