March 1, 2019 / 4:21 PM / 9 months ago

BUZZ- Imv Inc: Plunges after C$26.7 mln stock deal

** Cancer drug developer’s Canadian shares drop 13.8 pct to $5.48; on pace for their 4th session of losses after C$26.7 mln stock deal

** Stock is set for its worst day in 4-1/2 years

** Co prices stock offering of 4.9 mln shares at C$5.45/shr, representing a discount of 14 pct to stock’s last close

** Offer size represents ~13 pct of co’s free float as of March 1

** Co intends to use proceeds from offering to accelerate development of DPX-Survivac in combination with Keytruda to treat certain solid tumors in bladder, liver

** U.S. listed shares of IMV fell 19.7 pct

** Including session losses, shares have lost 20 pct of its value this year (Reporting by Amy Caren Daniel in Bengaluru)

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