Stock Alert: IMV Touches New 52-week High On COVID-19 Vaccine Progress

(RTTNews) - Shares of IMV Inc. (IMV) are surging more than 100 percent or $3.02 in Tuesday's morning trade at $6.01, after earlier touching a new 52-week high of $6.82.

Tuesday, IMV announced rapid progress in developing its candidate vaccine to prevent COVID-19 infection. The clinical-stage immuno-oncology company said that Health Canada has agreed to the design of a phase 1 clinical study to assess the safety and immunogenicity of DPX-COVID-19 in 84 healthy adults across two age cohorts: adults between 18 and 55 years old inclusive; and aged 56 years and above.

Two dose levels of DPX-COVID-19 will be tested (25µg or 50µg). IMV said it plans to commence phase 1 clinical trials this summer, with results in the fall of 2020. Once results are published, it intends to initiate phase 2 clinical trials in the second half of the year.

IMV has traded in a range of $1.35 to $6.82 in the past 52 weeks.