IMV Inc IMVIF

Nasdaq Notification Regarding Minimum Bid Price Deficiency

[davgro]

2022-07-08 04:08:17 PM ET (MT Newswires) 

04:08 PM EDT, 07/08/2022 (MT Newswires) -- IMV Inc. (NASDAQ and TSX: IMV), a clinical-stage company developing a portfolio of immune-educating therapies based on its novel DPX platform to treat solid and hematologic cancers, announced after trade Friday that on July 7, 2022, it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market indicating that, based upon the closing bid price of the company's common shares for the 30 consecutive business day period between May 23, 2022, through July 6, 2022, IMV did not meet the minimum bid price of US$1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to listing rules. According to a statement, the Notice has no immediate effect on the listing of the company's common shares on the Nasdaq Capital Market.

[Hideaway]

The Nasdaq notification along with market events are having quite an effect on sp.According to chart from presentation,not much big news in works until possibly year's end. Let's Hope something is announced soon as we have the summer months to get thru and if current trend continues,we will go lower. Anybody have comments?

[driller1a]

"The Nasdaq notification along with market events are having quite an effect on sp.According to chart from presentation,not much big news in works until possibly year's end." So...what you are saying is they are basically out of business.

[Hideaway]

I would suggest you read up on IMV's cash position and you will see they have sufficient reserves to carry them well into next year. They will not be "out of business" as you suggest and no where in my post did I state as such. Many of the long term investors in this stock are convinced that the science is solid and that is why we stay invested.Any junior biotec is risky so one

[pecuniam]

I've seen companies with large 'cash positions' go down under 5 cents a share. If the market does not see anything happening with regards to potential revenues and profits it's over for the equity stock.

[Jthom376]

On the $200,009,000 commone shares? Any thoughts? Have they positioned their self with a path to raise 200mill in stock sells?  if so, why now? Could the be preparing for a significant market move? Have they don't such before?! 

[driller1a]

Poor corporate management team.

[Hideaway]

Jthom could you elaborate on your post.I must have missed something as I can't recall a communication about raising $200 mill. Thanks in advance

[Jthom376]

It's an SEC filing from July 11... I'm no expert but to sell 200 mill worth... something significant is up.... they still have their ATM from 2020... US$200,000,000 Preferred Shares Common Shares Subscription Receipts Warrants Units July 11, 2022  Under this short form base shelf prospectus (the “Prospectus”), IMV Inc. (“IMV” or the “Corporation”) may, from time to time

[Jthom376]

https://www.imv-inc.com/investors/filings/sec-filings/content/0001104659-22-078754/0001104659-22-078754.pdf