Tribe Technologies
Trending >

Buy IMV for a double and then some, Echelon Wealth says


Echelon Wealth Partners analyst Doug Loe is holding steady on his estimation of IMV (IMV Stock Quote, Chart TSX:IMV) after the clinical stage biotech company released its quarterly results last week.

In an update to clients last Friday, Loe reiterated his “Speculative Buy” rating and $12.25 target price, representing a projected 12-month return of 135 per cent at the time of publication.

IMV delivered its fourth quarter and 2018 year end financials last Thursday, featuring revenues of $0.01 million and a net loss of $7.8 million. The company’s R&D costs escalated during the quarter, which Loe says is consistent with the heightened clinical testing for its lead cancer therapy, DPX-Survivac. In all, Loe says that he has no major reservations about elevating clinical costs, as the company is showing no major issues with financial risk and has sufficient cash to fund DPX-based clinical activities into the first half of 2020.

“NS-based immune therapy developer/formulator IMV reported FQ418 financial data for the Dec-end quarter that was in line with most of our income statement expectations, and clearly with more focus on imminent clinical milestones for the firm’s DepoVax portfolio than on financial data itself, excluding new balance sheet data,” says Loe.

An Engine for MedTech Innovation

This article is brought to you by Relay Medical Corp. (CSE:RELA)



Relay Medical is an integrated incubator/accelerator platform, developing a portfolio of medical technologies for pre-commercial exits in the Healthtech marketplace. Click on the logo for more info on this up-and-coming company…


“We calculate that EBITDA loss in the quarter was negative $6.6 million and thus was somewhat more negative than average quarterly EBITDA loss during the T9M period of about negative $4.1 million, with most of the FQ418 EBITDA delta arising from higher R&D costs as stated,” he says.

Projecting forward, Loe sees revenue starting to jump for IMV in the year 2023, where the top line should increase by 258 per cent to $17.9 million, followed by a 478 per cent increase in 2024 to $103.5 million. He predicts IMV will become EBITDA-positive in 2024 at $86.0 million.

We Hate Paywalls Too!

At Cantech Letter we prize independent journalism like you do. And we don't care for paywalls and popups and all that noise That's why we need your support. If you value getting your daily information from the experts, won't you help us? No donation is too small.

Make a one-time or recurring donation

About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
insta twitter facebook


Leave a Reply