IMV Inc (IMV) Stock Climbs On Ovarian Cancer Data

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IMV Inc (NASDAQ: IMV) is making a run for the top early on in the premarket this morning, trading on gains of more than 5% early on. The gains come after the company announced breakthrough data in difficult-to-treat cases of ovarian cancer. Here’s what’s going on:

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IMV Stock Pops On Ovarian Cancer Data

In a release issued early this morning, IMV provided investors with updated results from an ongoing Phase 2 study known as DeCidE1. In the study, the company is assessing the efficacy and safety of its lead candidate, DPX-Survivac, in patients with advanced recurrent ovarian cancer.

The positive results outline DPX-Survivac immunotherapy as an active and well-tolerated option for patients with advanced ovarian cancer who have received multiple prior lines of therapy.

First and foremost, IMV pointed out that DPX-Survivac is the first in-vivo T cell therapy to demonstrate clinical activity in hard-to-treat solid tumors. In the trial, 79% of evaluable patients achieved disease control on target lesions. Moreover, 53% of these patients experienced regression of their tumors.

The data also suggest that the treatment leads to a durable response. In fact, around 37% of patients saw a clinical benefit that lasted greater than six months. This includes four partial regressions.

As far as overall response rate, the treatment has not yet reached this point as six patients are still being treated. Nonetheless, the treatment is proving to be well-tolerated with limited side effects observed.

In a statement, Frederic Ors, President and CEO at IMV, had the following to offer:

Today’s update marks a pivotal milestone for IMV and, we believe, is a breakthrough for targeted T cell immunotherapies, as these results demonstrate for the first time activity in a solid tumor which is among the hardest to treat. We were pleased to achieve the primary objectives of our DeCidE1 study, showing DPX-Survivac was active, durable and well-tolerated in advanced ovarian cancer. With these results in hand, we plan to engage with the US Food and Drug Administration (FDA) on the design of a potential pivotal trial in ovarian cancer that might support an accelerated pathway.

Notably, these results also continue to validate the unique mechanism of our DPX platform and the relevance of survivin as a cancer target, as we await updated Phase 2 data from two additional studies of DPX-Survivac in the first half of this year.

Why This Data Is So Important

At the end of the day, saying that the data released by IMV this morning is positive would be an understatement. To understand why I say this, it’s important to look at the patient population on the study here.

We’re not talking about first-line therapy in early-stage cancer patients. The patients in this trial have a very poor prognosis. Not only is their cancer late stage, these patients have all been treated with multiple prior lines of therapy, including chemo, radiation, and other common options for fighting cancer.

Unfortunately, even with these prior lines of therapy, these patients saw progression in their disease, making them incredibly difficult to treat. With that said, having more than 30% of the patients in this difficult-to-treat population respond in a positive way is really a slam dunk.

With that said, it’s worth taking a look at the market opportunity here. At the moment, IMV is trading with a market cap of under $250 million. Nonetheless, it is moving into a massive market. In fact, it is estimated that the ovarian cancer drugs market will grow to be worth $4.5 billion annually by the year 2022.

Considering the market cap and the market opportunity here, IMV could be sitting on a goose that lays the golden eggs. Think about it, for substantial gains, the company wouldn’t even need to tap into half of this market. Tapping into just a small percentage of the market would lead to meaningful revenues.

All in all, the positive data gives investors plenty to be excited about when it comes to IMV.

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