It was a huge win for IMV (NASDAQ:IMV) today as the biopharmaceutical company posted a big win in the ongoing fight against cancer of all types. The company surged upward following news about its DPX platform and the VITALIZE Phase 2B portion of testing it just passed.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
The reports noted that IMV’s DPX—specifically its lead product, MVP-S—presented results the company called “encouraging”. The tests featured MVP-S working together with Merck (NYSE:MRK) and its release, Keytruda. The two drugs target both solid and hematologic cancers. The results proved positive. Sufficiently so, in fact, that IMV plans to offer an oral presentation of the data. It will present at the upcoming Immuno-Oncology 360 conference, scheduled for February 2023.
Early notes about DPX indicate that it is a “…well-tolerated, easy-to-administer therapy”. Further, it offers substantial benefit for those who take it. Meanwhile,Rutgers Cancer Institute Chief of Blood Disorders Dr. Matthew Matasar noted that the treatment produced remarkable results so far.
IMV needed a success like this. The company’s share price has been in open decline for most of the last year. It spent most of late 2021 into 2022 plateaued in the $10-$14 range. However, starting in April, the company started a downward plunge that brought the company all the way to its 52-week low of $2.03 per share. Thanks to today’s upward push, the company has recovered. Now it challenges the $4 per share mark for the first time since October.
