IMV to cut ~33% workforce amid reorganization

Sep. 15, 2022 9:14 AM ETIMV Inc. (IMV), IMV:CABy: Ravikash, SA News Editor

IMV (NASDAQ:IMV) said it was undertaking a reorganization and reducing its workforce by nearly one third.
The company will focus on its DPX platform and advance its lead DPX asset Maveropepimut-S (MVP-S), IMV said in a Sept. 15 press release.
IMV intends to focus its resources on ongoing MVP-S clinical programs in immuno-oncology (IO), notably phase 2b trials VITALIZE in relapsed/ refractory Diffuse Large B Cell Lymphoma (DLBCL) and AVALON for advanced metastatic ovarian cancer.
In addition, the Canadian company said that Saman Maleki was appointed to the board replacing Brittany Davison who will be promoted to chief accounting officer from her current role as senior vice president, Finance.
Maleki is an Assistant Professor of Oncology, Pathology & Laboratory Medicine, and Medical Biophysics at Western University and is an expert in the field of immuno-oncology, according to IMV.
IMV +4.05% to $0.77 premarket Sept. 15