ImmunoCellular Therapeutics Ltd (NYSE MKT:IMUC) announced an agreement with Pure MHC, an Emergent Technologies portfolio company, for development of a novel assay for quality control that will be an important component of ImmunoCellular’s ICT-107 phase 3 registrational clinical program in newly diagnosed glioblastoma, anticipated to begin in the second half of 2015. Under the terms of the agreement, Pure MHC will develop and validate a new assay specifically created for ICT-107, a dendritic-cell based immunotherapy targeting six antigens found on glioblastoma cells, especially stem cells. The new assay will be used to validate the quality and confirm the activity of ICT-107 and allow it to be released for administration to patients in the phase 3 trial.
“The agreement with Pure MHC is another important milestone in ImmunoCellular’s progress toward the phase 3 registration trial for ICT-107,” said Andrew Gengos, ImmunoCellular Chief Executive Officer. “Designing a new release assay to support the specific requirements of the ICT-107 six-antigen complex requires special skill and expertise, and we are confident in Pure MHC’s ability to deliver a validated release assay. We believe that the knowledge and know-how gained from developing this assay can be applied to our other dendritic cell-based immunotherapy programs, thus representing a meaningful return on investment for our Company. We look forward to continuing to advance toward beginning patient enrollment in the phase 3 trial of ICT-107 in the late third quarter or early fourth quarter of this year.”
“Pure MHC has developed a suite of platform technologies in the field of immuno-oncology including the use of TCRm mAb to validate peptide vaccine delivery,” said Tommy Harlan, Pure MHC Chief Executive Officer. “Pure MHC looks forward to using its patented TCRm potency assay to support the release of ImmunoCellular’s ICT-107 dendritic cell-based immunotherapy for glioblastoma.” (Original Source)
Shares of ImmunoCellular Therapeutics closed last Friday at $0.4888 . IMUC has a 1-year high of $1.20 and a 1-year low of $0.43. The stock’s 50-day moving average is $0.48 and its 200-day moving average is $0.58.
On the ratings front, ImmunoCellular Therapeutics has been the subject of a number of recent research reports. In a report issued on March 13, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on IMUC, with a price target of $3, which implies an upside of 513.7% from current levels. Separately, on March 10, Maxim Group’s Jason Kolbert reiterated a Buy rating on the stock and has a price target of $3.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Jason Kolbert have a total average return of 9.2% and 2.2% respectively. Pantginis has a success rate of 52.7% and is ranked #228 out of 3638 analysts, while Kolbert has a success rate of 42.0% and is ranked #1351.
ImmunoCellular Therapeutics Ltdis a clinical-stage biotechnology company that develops immune-based therapies for the treatment of cancers, such as brain, ovarian and other solid tumors.