LUND, Sweden - Immunovia, a diagnostics company listed on Nasdaq Stockholm (IMMNOV), announced today the appointment of Norma Alonzo Palma, PhD, as its new Vice President of Clinical and Medical Affairs. The company, which specializes in early detection of pancreatic cancer, is gearing up for the next phase of clinical studies and payer pilots for its next-generation blood test.
Dr. Alonzo Palma brings over two decades of experience in oncology, diagnostics, and reimbursement, with a track record of leadership in medical affairs at several biopharmaceutical companies. She holds a PhD in Pharmacology & Physiology from Georgetown University and has completed a post-doctoral fellowship in molecular virology at the National Cancer Institute.
The CEO and President of Immunovia, Jeff Borcherding, expressed enthusiasm about Dr. Alonzo Palma's addition to the team, emphasizing her role in advancing the company's product development and fostering relationships with key stakeholders in the medical community.
This move comes after Immunovia's strategic restructuring in July 2023 to concentrate on the development of its innovative blood test, which successfully completed the discovery phase in November 2023. The United States represents the largest market for pancreatic cancer detection, with an estimated 1.8 million high-risk individuals who could benefit from Immunovia's testing.
The announcement is based on a press release statement and does not include any promotional content. Immunovia continues to collaborate with healthcare providers, experts, and patient advocacy groups to improve early detection and survival rates for pancreatic cancer.
InvestingPro Insights
As Immunovia welcomes Dr. Norma Alonzo Palma to its executive team, the company's financial health and market performance also warrant attention. According to real-time data from InvestingPro, Immunovia holds a market cap of approximately $7.34 million USD. Despite the challenges faced in profitability, with a negative P/E ratio reflecting a lack of earnings, the company has shown a striking 102.42% revenue growth over the last twelve months as of Q3 2023.
InvestingPro Tips indicate that while Immunovia is quickly burning through cash, it has more cash than debt on its balance sheet, which can be a cushion for its aggressive growth strategy. Analysts are anticipating sales growth in the current year, which aligns with the company's focus on advancing its blood test for early detection of pancreatic cancer. However, it's worth noting that the stock has experienced significant price volatility, and analysts do not anticipate the company will be profitable this year.
For those considering investing in Immunovia, it's important to note that the stock price has seen a strong return over the last three months, with a 204.5% price total return, signaling potential investor optimism in the company's future despite the lack of profitability over the last twelve months. Immunovia's valuation implies a poor free cash flow yield, and the company does not pay a dividend, which may be relevant for income-focused investors.
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