Immunovaccine Announces Financial Results for the Quarter Ended June 30, 2013

Immunovaccine Inc. ("Immunovaccine" or "IMV") (TSX VENTURE:IMV), a clinical
stage vaccine company, today released its financial and operational results for
the quarter ended June 30, 2013.


John Trizzino, CEO of Immunovaccine, commented,

"During the quarter, our cancer vaccine program grew rapidly. The NCIC Clinical
Trials Group, supported by the Canadian Cancer Society, agreed to provide
clinical and operational support for a Phase II study of our lead product,
DPX-Survivac in advanced ovarian cancer patients. That trial is expected to
begin in the new year. The company also entered into Phase II collaborations of
DPX-Survivac in the treatment of glioblastoma and with DPX-0907 for breast and
ovarian cancer. Both of these collaborations involve research organizations in
Europe. In addition, the company received additional financial support from the
Province of Nova Scotia. On August 2, 2013, the Province awarded the company a
secured $5.0 million loan to help underwrite our working capital needs. These
new relationships, with the NCIC CTG, the two European research centers and the
Province, serve as certification of the science that forms the foundation of
everything we do at Immunovaccine. These trials will provide the additional
validating data that we need to move these vaccines toward our goal of
delivering breakthrough therapies for patients in need."


Highlights of the Second Quarter 2013 and Subsequent to Quarter End:



--  Canada's NCIC Clinical Trials Group (NCIC), supported by the Canadian
    Cancer Society, will sponsor and conduct a randomized Phase II study of
    DPX-Survivac in patients with advanced ovarian cancer. The study is
    designed to assess whether IMV's vaccine therapy can delay or prevent
    cancer recurrence. The Phase II trial is a randomized, blinded, placebo-
    controlled study with DPX-Survivac in combination with low dose oral
    cyclophosphamide as an immune modulator. The study will enroll
    approximately 250 patients with ovarian cancer at an estimated 20
    clinical centers. Through its sponsorship, NCIC will contribute the
    majority of the clinical resources and non-dilutive financial support
    required to complete the trial. The trial is expected to get underway in
    2014 with results in 2017. 
    
--  The Province of Nova Scotia's Economic and Rural Development department
    is supporting IMV with a $5 million loan to be used to fund a portion of
    working capital through 2016. The secured loan, which was obtained on
    August 2, 2013, is interest bearing and repayable in 2018.  
    
--  The Company has agreed to use its lead cancer product, DPX-Survivac, in
    a study based in Rome designed to extend life for glioblastoma patients.
    The multicenter Phase II trial will be led by Professor Marianna Nuti,
    Ph.D., Department of Experimental Medicine at the University of Rome,
    and conducted in collaboration with neurosurgeons and oncologists
    coordinated by Professor Maurizio Salvati, M.D. Four major trial centers
    across Italy will be involved, with the cost of the trial being assumed
    by the university. The randomized, placebo-controlled study will enroll
    more than 50 patients with newly diagnosed brain tumors that have been
    maximally resected. The study is expected to start in Q4 of 2013.  
    
--  Positive results from a Phase I clinical study of DPX-Survivac were
    presented at ASCO 2013. In a poster presentation at the conference,
    Immunovaccine highlighted study results that showed ovarian cancer
    patients treated with DPX-Survivac combined with low dose oral
    cyclophosphamide experienced pronounced and persistent T cell immune
    responses against survivin, a protein strongly associated with several
    tumor types. The Company believes that these immune responses are
    consistent in profile to those necessary from a cancer vaccine to
    potentially impact disease progression. 



Q2 2013 Financial Results

The Company prepares its unaudited interim condensed consolidated financial
statements in accordance with Canadian generally accepted accounting principles
as set out in the Handbook of the Canadian Institute of Chartered Accountants -
Part I ("CICA Handbook"), which incorporates International Financial Reporting
Standards ("IFRS") as issued by the International Accounting Standards Board
("IASB"). 


The Company's net loss and comprehensive loss of $965,000 for Q2 Fiscal 2013 was
$618,000 lower than the net loss and comprehensive loss for Q2 Fiscal 2012. This
relates mainly to the $194,000 decrease in research and development costs, an
$80,000 decrease in business development expenses and a $431,000 decrease to
accreted interest and adjustments, offset by an increase of $88,000 in general
and administrative expenses. 


For the quarter ended June 30, 2013, the Company reported total R&D expenses of
$587,000, a decrease of $194,000 compared to the three months ended June 30,
2012. G&A expenses of $561,000 were reported for Q2 Fiscal 2013 compared to
$474,000 for the three months ended June 30, 2012, an overall increase of
$87,000. Total business development expenses of $203,000 in Q2 Fiscal 2013
represented a decrease of $80,000 compared to the three months ended June 30,
2012.


At June 30, 2013, Immunovaccine had cash and cash equivalents of $893,000 and
working capital of $844,000, as compared to $2,002,000 and $2,064,000,
respectively at December 31, 2012.


As of June 30, 2013, the number of issued and outstanding common shares was
68,412,996. On June 30, 2013, the number of stock options outstanding was
5,738,720 and the number of outstanding warrants was 3,732,550.


Immunovaccine's unaudited interim condensed consolidated financial statements
for June 30, 2013, filed in accordance with IFRS, and the management discussion
and analysis (MD&A), are available at www.sedar.com.


About Immunovaccine

Immunovaccine Inc. applies its novel adjuvanting platform to the development of
vaccines for cancer therapy, infectious diseases and animal health. The
Company's DepoVax(TM) platform is a patented formulation that provides
controlled and prolonged exposure of antigens plus adjuvant to the immune
system. Immunovaccine has advanced two DepoVax(TM)-based cancer vaccines into
Phase I human clinical trials. The Company is also advancing a broad infectious
diseases pipeline including vaccines in such indications as malaria, respiratory
syncytial virus (RSV) and anthrax. In addition to the Company's human health
vaccine strategy, it continues to capture value from animal health vaccine
applications. Immunovaccine has key partnerships in the animal health sector
including an agreement with Zoetis (formerly Pfizer Animal Health). Connect at
www.imvaccine.com.


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. However, they 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 affecting the company,
including access to capital, the successful completion of clinical trials and
receipt of all regulatory approvals. Immunovaccine Inc. assumes no
responsibility to update forward-looking statements in this press release.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Immunovaccine Inc.
Kimberly Stephens
CFO
(902) 492-1819
info@imvaccine.com


Vida Strategic Partners (media)
Tim Brons
(415) 675-7402
tbrons@vidasp.com
(TSXV:IMV)
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