- \n
- Identification of PD-L1 as a potential Biomarker with 86% of clinical responses in patients with r\/r DLBCL in our combination trial with Merck\u2019s Keytruda\u00ae <\/i><\/li>\n
- Cash and cash equivalents of $54.7M as of September 30th<\/sup>, 2020<\/i><\/li>\n
- Expanded Board of Directors and strengthened management team<\/i><\/li>\n
- Reviewing data presented at SITC on a conference call and webcast today at 8:00 a.m. ET <\/i><\/li>\n<\/ul>\n
DARTMOUTH, Nova Scotia–(BUSINESS WIRE<\/a>)–
\nIMV Inc. (the \u201cCompany\u201d or \u201cIMV\u201d) (TSX: IMV; NASDAQ: IMV), a clinical-stage biopharmaceutical company pioneering a novel class of cancer immunotherapies and vaccines against infectious diseases, announces financial results for the third quarter ended September 30, 2020 and provides an update on its clinical and operational progress.\n<\/p>\n\n\u201cBiomarkers predictive of responses can be game-changing in the development of new treatments for cancer. We are extremely happy to share our success this week in finding a potential predictive biomarker that is associated with a very high level of clinical efficacy in patients with relapsed\/refractory DLBCL. The PD-L1 biomarker is well recognized and already approved for multiple cancer indications and this finding brings us closer to an accelerated path to market for DPX-Survivac in this high unmet medical need patient population.\u201d\n<\/p>\n
\n\u201cIn addition to this significant milestone, we continued to make progress across our pipeline and corporate development objectives steadily advancing development in other cancer indications as well as our vaccine against COVID-19,\u201d said Fred Ors, Chief Executive Officer at IMV.\n<\/p>\n
Third quarter 2020 and Recent Operational Highlights:<\/b><\/p>\n
DPX-Survivac<\/span><\/b><\/p>\n
Phase 2 SPiReL Study in Relapsed \/ Refractory Diffuse Large B-Cell Lymphoma (r\/r DLBCL)<\/b><\/p>\n
\nSPiReL is an investigator-initiated Phase 2 study evaluating DPX-Survivac\/CPA in combination with Keytruda\u00ae (pembrolizumab) in r\/r DLBCL. The study is led by Dr. Neil Berinstein, MD, FFCP\u00a9, ABIM, hematologist-oncologist at the Odette Cancer Centre at Sunnybrook Health Sciences Centre in Toronto, Ontario.\n<\/p>\n
\nAs of October 30, 2020, 24 patients have been enrolled across six clinical sites in Canada. As reported in May 2020, the study has already met its primary efficacy endpoint.\n<\/p>\n
\nOn November 11, 2020, Dr. Berinstein delivered a poster presentation at The Society for Immunotherapy of Cancer (SITC) 35th Anniversary Annual Meeting. <\/i>As of the data cut-off date of this presentation, 18 pre-treatment samples from 18 patients enrolled in the SPiReL study were available for biomarker analysis and thirty-nine percent (7\/18) of these patients had pre-treatment tumors that were classified as PD-L1 positive.\n<\/p>\n
\nKey findings for this population include:\n<\/p>\n
- \n
- \n6\/7 subjects demonstrated a partial response (PR) or complete response (CR), resulting in an Objective Response Rate (ORR) of 86% (3 CR and 3 PR) and no clinical response (PR or CR) has been observed in the PD-L1 negative population (n=11); and\n<\/li>\n
- \nObserved 100% Disease Control Rate (DCR) defined as Stable Disease, PR or CR.\n<\/li>\n<\/ul>\n
\nOn the strength of these results, IMV is working on the design of the next clinical study in r\/r DLBCL. The Company plans to engage with the U.S. Food and Drug Administration (FDA) as soon as possible to identify the best path toward registration.\n<\/p>\n
Phase 2 DeCidE1 Study in Advanced Recurrent Ovarian Cancer<\/b><\/p>\n
\nDeCidE1 is a Phase 2 multicenter, randomized, open-label study to evaluate the safety and efficacy of DPX-Survivac\/CPA. This Phase 2 arm enrolled 22 patients with recurrent, advanced platinum-sensitive and\/or resistant ovarian cancer.\n<\/p>\n
\nIMV intends to present top line data during a virtual key opinion leader meeting on December 3, 2020 at 8:00 am ET.\n<\/p>\n
Phase 2 Basket Trial in Multiple Advanced Metastatic Solid Tumors<\/b><\/p>\n
\nThe Basket Trial is an open label, multi-center Phase 2 study, evaluating the safety and efficacy of DPX-Survivac\/CPA in combination with Keytruda\u00ae across five cohorts of patients with bladder cancer, liver cancer (hepatocellular carcinoma), ovarian cancer (with and without CPA), NSCLC and tumors shown to be positive for the microsatellite instability high (MSI-H) biomarker.\n<\/p>\n
\nAs of October 30, 2020, a total of 106 patients out of the planned 184 patients have been enrolled across all five indications at 19 clinical sites in Canada and the US.\n<\/p>\n
\nAs noted previously, the COVID-19 pandemic has impacted data collection and verification from this study. The Company intends to report results in the first quarter of 2021 to coincide with seasonal healthcare industry conferences.\n<\/p>\n
DPX-COVID-19<\/span><\/b><\/p>\n
\nIn October 2020, IMV announced that in consultation with Health Canada, it intends to combine its original Phase 1 and 2 studies into a single trial with the potential to accelerate the clinical development and the timeline of the overall project. The design of this study will incorporate the same two-age strata cohorts (18-55 years old and over 55 years old) as originally planned.\n<\/p>\n
\nSubject to the approval of Health Canada and after the completion and submission of the preclinical safety, GLP toxicology and challenge studies, the Phase 1\/2 trial is expected to be approved and initiated before the end of 2020.\n<\/p>\n
Additional funding and Increased Manufacturing Capacity<\/span><\/i><\/span><\/p>\n
\nIn October 2020, IMV announced that the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP)<\/a> will provide advisory services and up to $5.4 million in funding to support the continuation of clinical trials for its DPX-COVID-19 vaccine candidate. This funding is milestone based and will be dependent upon the achievement of certain objectives. To date, IMV has secured more than $10 million to fund its DPX-COVID-19 development efforts and other non-dilutive funding requests are ongoing.\n<\/p>\n
\nTo increase its current manufacturing capacity, IMV has entered a collaboration with a global manufacturing partner and initiated transfer and scale-up activities of DPX-COVID-19. This collaboration has the potential to bring two additional production sites in India and Europe with capacity to produce several hundred million doses of DPX-COVID-19.\n<\/p>\n
Corporate Update<\/span><\/b><\/p>\n
\nOn November 10, 2020, Andrew Hall joined IMV as Chief Business Officer. Mr. Hall was previously Executive Director, Business Development and Global Alliances at Celgene.\n<\/p>\n
\nIn July 2020, Michael P. Bailey was appointed to the board of directors. Mr. Bailey currently serves as President and Chief Executive Officer and a member of the board of directors at AVEO Oncology.\n<\/p>\n
Upcoming Milestones<\/span><\/b><\/p>\n
\nOver the course of upcoming quarters, the Company expects to deliver the following milestones:\n<\/p>\n
- \n
- \nDPX-Survivac<\/p>\n
- \n
- \nAdditional Phase 2 clinical results from the DLBCL combination at the American Society of Hematology (ASH) annual meeting to be held virtually on December 6, 2020\n<\/li>\n
- \nTop line Phase 2 clinical results from the ovarian cancer trial on December 3, 2020\n<\/li>\n
- \nUpdated Phase 2 clinical results from the basket trial in Q1 2021\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
- \n
- \nDPX-COVID-19<\/p>\n
- \n
- \nInitiation of Phase 1\/2 clinical trial with DPX-COVID-19 in 2020\n<\/li>\n
- \nPreliminary Phase 1\/2 results in Q1 2021\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
Overview of Third quarter 2020 Financial Results<\/span><\/b><\/p>\n
\nOn September 30, 2020, the Company had cash and cash equivalents of $54,700,000 and working capital of $55,875,000, compared with $14,066,000 and $13,199,000, respectively at December 31, 2019. This primarily reflects proceeds from the $25,100,000 private placement completed on May 7th<\/sup>, the 6,841,773 common shares issued for gross proceeds of US$30 million (CAD$40.8 million) under its March and June At-The-Market facilities and $2,276,000 from the exercise of 611,888 common share warrants. Based on its current operating plan, IMV expects its current cash position will be sufficient to fund operations for more than the next 12 months.\n<\/p>\n
\nResearch and development expenses increased by $889,000 during the quarter ended September 30, 2020, compared to Q3 2019. These increases are mainly due to pre-clinical development for DPX-COVID-19, which is offset by an increase in government assistance, and to a lesser extent, also attributable to personnel costs due to an increase in headcount. The increase in research and development expenses is partly offset by a decrease in travel, DPX-SurMAGE preclinical development and costs related to the DeCidE1 Phase 2 study of DPX-Survivac\/CPA, in patients with advanced recurrent ovarian cancer.\n<\/p>\n
\nGeneral and administrative expenses increased by $1,064,000 for the quarter ended September 30, 2020 compared to Q3 2019. This increase is explained by an increase in insurance premium and to a lesser extent is also attributable to an increase in foreign exchange loss. This increase is partly offset by a decrease of $223,000 in legal and professional fees and a decrease of $170,000 in travel due to COVID-19 travel restrictions.\n<\/p>\n
\nThe net loss and comprehensive loss of $8,327,000 ($0.13 per share) for the quarter ended September 30, 2020 was $431,000 higher than the net loss and comprehensive loss of $7,896,000 ($0.16 per share) for the quarter ended September 30, 2019.\n<\/p>\n
\nFor the nine-month period ended September 30, 2020, the net loss and comprehensive loss of $25,259,000 was $6,369,000 higher than the net loss and comprehensive loss for the nine-month period ended September 30, 2019. This relates mainly to a $5,161,000 increase in R&D expenses and a $3,000,000 increase in general and administrative expenses partly compensated by a $1,556,000 increase in government assistance mainly towards COVID-19 vaccine development.\n<\/p>\n
\nFor the nine months ended September 30, 2020, IMV’s cash burn rate, defined as net loss for the period adjusted for operations not involving cash (interest on lease obligation, depreciation, accretion of long-term debt, stock-based compensation and DSU compensation), was $23,566,000.\n<\/p>\n
\nAs of November 11, 2020, the number of issued and outstanding common shares was 67,093,547 and a total of 4,490,791 stock options, deferred share units and warrants were outstanding.\n<\/p>\n
\nThe Company’s unaudited interim condensed consolidated results of operations, financial condition and cash flows for the quarter ended September 30, 2020 and the related management’s discussion and analysis (MD&A) are available on SEDAR at www.sedar.com<\/a> and on EDGARat www.sec.gov\/edgar<\/a>. <\/i><\/p>\n
Conference Call and Webcast Information<\/strong><\/p>\n
\nManagement will host a conference call and webcast today, November 12, 2020, at 8:00 a.m. ET. Financial analysts are invited to join the conference call by dialing (866) 211-3204 (U.S. and Canada) or (647) 689-6600 (international) using the conference ID# 6146758. Other interested parties will be able to access the live audio webcast at this link<\/a>.\n<\/p>\n
About IMV<\/b><\/p>\n
\nIMV Inc. is a clinical stage biopharmaceutical company dedicated to making immunotherapy more effective, more broadly applicable, and more widely available to people facing cancer and other serious diseases. IMV is pioneering a new class of cancer-targeted immunotherapies and vaccines based on the Company\u2019s proprietary delivery platform (DPX). This patented technology leverages a novel mechanism of action that enables the activation of immune cells in vivo, which are aimed at generating powerful new synthetic therapeutic capabilities. IMV\u2019s lead candidate, DPX-Survivac, is a T cell-activating immunotherapy that combines the utility of the platform with a novel cancer target: survivin. IMV is currently assessing DPX-Survivac in advanced ovarian cancer, as well as a combination therapy in multiple clinical studies with Merck. IMV is also developing a DPX-based vaccine to fight against COVID-19. Visit www.imv-inc.com<\/a> and connect with us on Twitter<\/a> and LinkedIn<\/a>.\n<\/p>\n
Cautionary Language Regarding Forward-Looking Statements<\/b><\/p>\n
This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements regarding the Company\u2019s progress in developing a DPX-based vaccine candidate against COVID-19, the Company\u2019s belief that the DPX-based platform creates the opportunity for production of a COVID-19 vaccine, the Company\u2019s belief in the potential efficacy of its DPX-based vaccine against COVID-19, the anticipated timing of the Company\u2019s preclinical assays, studies and clinical trials related to its DPX-based vaccine against COVID-19 and the expected impact of COVID-19 on the Company\u2019s other clinical studies and trials and its operations generally. Such statements should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks and uncertainties affecting the Company and its products. <\/i><\/p>\n
The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. These forward-looking statements involve known and unknown risks and uncertainties and those risks and uncertainties include, but are not limited to, the Company\u2019s ability to develop a DPX-based vaccine candidate against the COVID-19 through the successful and timely completion of preclinical assays, studies and clinical trials, the receipt of all regulatory approvals by the Company to commence and then continue clinical studies and trials, and, if successful, the commercialization of its proposed vaccine candidate related to COVID-19, the Company\u2019s ability to raise sufficient capital, including potentially through grant awards available in Canada, to fund such clinical studies and trials and the production of any COVID-19 vaccine, the ultimate applicability of any third-party research and studies in related coronavirus and SARS studies and sequencing, the Company\u2019s ability to enter into agreements with the proposed lead investigators to assist in the clinical development on its vaccine candidate related to COVID-19, the Company\u2019s ability to collaborate with governmental authorities with respect to such clinical development, the coverage and applicability of the Company\u2019s intellectual property rights to any vaccine candidate related to COVID-19, the ability of the Company to manufacture any vaccine candidate related to COVID-19 rapidly and at scale, the ability for the Company to accurately assess and anticipate the impact of COVID-19 on the Company\u2019s other clinical studies and trials and operations generally and other risks detailed from time to time in the Company\u2019s ongoing filings and in its annual information form filed with the Canadian regulatory authorities on SEDAR as www.sedar.com<\/a> and with the United States Securities and Exchange Commission on EDGAR at www.sec\/edgar<\/a>. Investors are cautioned not to rely on these forward-looking statements and are encouraged to read the Company\u2019s continuous disclosure documents which are available on SEDAR and on EDGAR. <\/i><\/p>\n
\n
\n \u00a0<\/td>\n<\/tr>\n \n \n \nIMV INC.\n<\/p>\n
\nUnaudited Interim Condensed Consolidated Statements of Loss and Comprehensive Loss\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(In thousands of Canadian dollars, except for share and per share amounts)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \nThree-months ended\n<\/p>\n
\nSeptember 30\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \nNine-months ended\n<\/p>\n
\nSeptember 30\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2020\n<\/p>\n
\n$\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2019\n<\/p>\n
\n$\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2020\n<\/p>\n
\n$\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2019\n<\/p>\n
\n$\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Income<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSubcontract revenue\n<\/p>\n<\/td>\n
\n \n3\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n13\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n26\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest Income\n<\/p>\n<\/td>\n
\n \n85\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n151\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n209\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n405\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal income\n<\/p>\n<\/td>\n
\n \n88\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n164\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n212\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n431\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Expenses<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nResearch and development\n<\/p>\n<\/td>\n
\n \n6,541\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n5,652\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n18,628\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n13,467\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGeneral and administrative\n<\/p>\n<\/td>\n
\n \n3,699\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,635\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n9,778\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n6,778\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGovernment assistance\n<\/p>\n<\/td>\n
\n \n(1,684)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(606)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(3,649)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(2,093)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccreted interest and valuation adjustments\n<\/p>\n<\/td>\n
\n \n(141)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n379\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n714\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,169\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal operating expenses\n<\/p>\n<\/td>\n
\n \n8,415\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n8,060\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n25,471\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n19,321\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Net loss and comprehensive loss<\/b><\/p>\n<\/td>\n
\n \n(8,327)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(7,896)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(25,259)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(18,890)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Basic and diluted loss per share<\/b><\/p>\n<\/td>\n
\n \n(0.13)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(0.16)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(0.44)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(0.38)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWeighted-average shares outstanding\n<\/p>\n<\/td>\n
\n \n65,970,269\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n50,615,488\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n58,025,986\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n49,324,232\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n \nIMV INC.\n<\/p>\n
\nUnaudited Interim Condensed Consolidated Statements of Financial Position\n<\/p>\n<\/td>\n
\n \n \n <\/tr>\n \n \n \n(In thousands of Canadian dollars, except for share and per share amounts)\n<\/p>\n<\/td>\n
\n \n \n <\/tr>\n \n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \nSeptember 30,\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \nDecember 31,\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2020\n<\/p>\n<\/td>\n
\n \n \n \n2019\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Assets<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent assets\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and cash equivalents\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n54,700\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n14,066\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts receivable\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,663\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n845\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n7,191\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,032\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInvestment tax credits receivable\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,588\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,661\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current assets\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n65,142\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n19,604\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty and equipment\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,833\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,830\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal assets\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n67,975\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n22,434\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n
Liabilities and Equity<\/b><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n \n \nCurrent liabilities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
<\/tr>\n \n \n \nAccounts payable, accrued and other liabilities\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n8,236\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n6,157\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAmounts due to directors\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n62\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n60\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of long-term debt\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n843\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n88\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of lease obligations\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n126\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n100\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current liabilities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n9,267\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n6,405\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLease obligation\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,234\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,208\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term debt\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n8,670\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n8,373\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n19,171\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n15,986\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEquity\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n48,804\n<\/p>\n<\/td>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n6,448\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities and equity\n<\/p>\n<\/td>\n
\n \n$\n<\/p>\n<\/td>\n
\n \n67,975\n<\/p>\n<\/td>\n
\n \n \n$\n<\/p>\n<\/td>\n
\n \n22,434\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n\u00a0\n<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201112005180\/en\/<\/a><\/span><\/p>\n
Investor Relations
\n<\/b><\/p>\nMarc Jasmin, Senior Director, Investor Relations, IMV
\n<\/b>
O: (902) 492-1819, ext: 1042\u00a0
\n
M: (514) 617-9481
\n
E: mjasmin@imv-inc.com
\n<\/a><\/p>\nIrina Koffler, Managing Director, LifeSci Advisors
\n<\/b>
O: (646) 970-4681\u00a0
\n
M: (917) 734-7387\u00a0
\n
E: ikoffler@lifesciadvisors.com
\n<\/a><\/p>\nMedia
\n<\/b><\/p>\n
- \nDPX-COVID-19<\/p>\n
- \nDPX-Survivac<\/p>\n
- Cash and cash equivalents of $54.7M as of September 30th<\/sup>, 2020<\/i><\/li>\n