In a research report released earlier today, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on shares of ImmunoCellular Therapeutics (NYSEMKT:IMUC) with a $3 price target, following the news that the FDA granted a Special Protocol Assessment (SPA) for the Company’s Phase III ICT-107 study in newly diagnosed glioblastoma.

Pantginis wrote, “We believe this is a significant achievement for IMUC, which has been quite engaged with the regulatory authorities following the Phase II data showing the survival benefit in HLA-A2 patients. The analysis of the Phase II data at all of the prospectively defined endpoints took a significant amount of blocking and tackling, in our belief, and we believe the SPA is a testament to this work.”

“In this Phase III, patients will be randomized following surgery and chemoradiation. An additional step of analysis post chemoradiation will be added in order to exclude progressive patients prior to randomization, which should help improve chances of success. The company expects full enrollment to take ~2 years and 2-3 additional years for the needed survival events to occur. Two interim analyses are planned, a futility analysis at 30% of events and an efficacy analysis at 66%. These are expected to occur at ~2 and ~2.5 years following the first patient randomized.”, the analyst added.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -0.9% and a 40.6% success rate. Pantginis has a -44.9% average return when recommending IMUC, and is ranked #3128 out of 3734 analysts.

All the 2 analysts polled by TipRanks rate ImmunoCellular Therapeutics stock a Buy. With a return potential of 484.6%, the stock’s consensus target price stands at $3.

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