Immunovaccine Announces Third Quarter 2017 Financial Results
“We have had another successful quarter at
Clinical program updates from third quarter 2017 and to date include:
- Completing enrollment in the 100mg epacadostat dose cohort, and initiating recruitment of the 300mg epacadostat dose cohort, for the Company’s Phase 1b clinical trial with
Incyte Corporation, which is evaluating DPX-Survivac, mCPA and epacadostat in advanced ovarian cancer patients.
- Receiving regulatory clearance from
Health Canada(shortly following the end of the quarter) to allow initiation of a Phase 2 clinical trial evaluating the combination of DPX-Survivac, mCPA and Merck’s checkpoint inhibitor, pembrolizumab, in diffuse large B-cell lymphoma (DLBCL).
Operational highlights of the third quarter 2017 and to date include:
- Breakthrough process established for DPX-NEO program: Technological achievements in synthesizing a broad range of diverse peptides in the DPX-NEO program may enable
Immunovaccineto address some of the major roadblocks to bringing these types of novel therapies to market.
- Veterinary vaccine milestones reached in the
Zoetiscollaboration: The Company’s long-standing animal health contract with Zoetisto develop cattle vaccines achieved multiple research milestones, which will allow Zoetisto advance two Immunovaccine-formulated vaccine candidates into late stage testing.
- Extension of the Province of
Nova Scotialoanmaturity date: Shortly after the quarter ended, Immunovaccinereceived a two-year extension of the maturity of the loan authorized in 2013. Under terms of the agreement, the original maturity date of August 9, 2018was extended to August 9, 2020.
Anticipated upcoming milestones include:
- Q4 2017: Anticipated topline results for the 100mg epacadostat dosing cohort in the Phase 1b trial in collaboration with
Incytewill mark the first clinical efficacy results of DPX-Survivac on active tumors.
- 1H 2018: Additional topline data are expected from the 300mg epacadostat dosing cohort in the Phase 1b
- 1H 2018: Early data are expected from the Phase 2 combination trial evaluating Merck’s pembrolizumab and DPX-Survivac in ovarian cancer.
The Company prepares its unaudited interim condensed consolidated financial statements in accordance with Canadian generally accepted accounting principles as set out in the Chartered Professional Accountants of
The net loss and comprehensive loss of
For the nine months ended
Immunovaccine Forward-Looking Statements
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.
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Pierre Labbé, Chief Financial Officer
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O: (415) 513-1284
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Source: Immunovaccine Inc.