An application to list on the Nasdaq as well as its recent 3:2:1 reverse stock split are pushing a Mackie Research analyst to raise his target stock price on ImmunoVaccine Inc (TSX:IMV), the Canadian clinical stage immune-oncology group, to C$8.70.
Andre Uddin is also keeping a Speculative Buy rating on the stock.
Next month, IMV’s researchers will present the top-line results of an ongoing Phase 1b study, which is testing its cancer vaccine DPX-Survivac in combination with the oncology research group Incyte’s 300mg epacadostat, a fledgling IDO1 inhibitor, to treat patients with advanced ovarian cancer.
Additional results from clinical trials are also expected from IMV in the third quarter.
IMV and Incyte have also opted to open a Phase2 study to evaluate the effectiveness of DPX-Survivac and low-dose cyclophosphamide with or without epacadostat in patients suffering from advanced ovarian cancer that has recurred.
IMV’s reverse split took effect on May 2 and its post-consolidation trading on the TSX is set to kick off on May 10.
Shares in ImmunoVaccine Inc added 2.5% to C$1.58 Thursday.