ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) announced the establishment of an agreement with Novella Clinical (Novella), to conduct the phase 3 registration trial of ICT-107 in patients with newly diagnosed glioblastoma. Novella is a full-service, global clinical research organization (CRO) providing clinical trial services to small to mid-sized oncology companies. The ICT-107 phase 3 trial will include approximately 120 clinical sites in the US, Europe and Canada, and will recruit about 400 patients with newly diagnosed glioblastoma. ImmunoCellular anticipates initiating the phase 3 trial in the fourth quarter of 2015.
“Establishing this agreement with Novella Clinical moves us one more critical step forward in the implementation of our phase 3 ICT-107 registrational trial,” said Andrew Gengos, ImmunoCellular Chief Executive Officer. “Novella’s special expertise in oncology clinical trials, combined with their strong international network, experience working with oncology cooperative groups, and reputation for high quality, efficiency and cost-effectiveness, make them an excellent partner for our ICT-107 program. We are rapidly building the infrastructure for our phase 3 program and remain on track to initiate the trial later this year.”
Novella’s President Richard Staub added, “We are proud and very pleased to be selected to support this proprietary oncology immunotherapy platform for glioblastoma. We look forward to working alongside ImmunoCellular to navigate the development and successful execution of this pivotal program to ultimately benefit patients.”(Original Source)
Shares of ImmunoCellular Therapeutics closed last Thursday at $0.49. IMUC has a 1-year high of $1.13 and a 1-year low of $0.43. The stock’s 50-day moving average is $0.49 and its 200-day moving average is $0.56.
On the ratings front, ImmunoCellular 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 represents a potential upside of 512.2% from where the stock is currently trading. 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 8.1% and 0.0% respectively. Pantginis has a success rate of 50.6% and is ranked #271 out of 3689 analysts, while Kolbert has a success rate of 39.9% and is ranked #2508.
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.