ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) announced that its Board of Directors has appointed Mark A. Schlossberg and Gregg A. Lapointe as Board members.
Mr. Schlossberg and Mr. Lapointe are seasoned business executives. Mr. Schlossberg has more than 15 years of experience in the biotechnology, pharmaceutical and medical device industries, and broad expertise in general management, legal affairs, finance, business development, and mergers and acquisitions. Mr. Lapointe has deep and broad executive, financial, operational, commercial and general management experience in large and small biopharmaceutical companies. Mr. Schlossberg has been appointed to the Audit and Nominating & Governance Committees of the Board, and Mr. Lapointe has been appointed to the Compensation Committee of the Board.
Andrew Gengos, ImmunoCellular Chief Executive Officer, commented: “Mark is an accomplished executive with a proven track record both in general management and legal support of key functions including, intellectual property, manufacturing, regulatory, finance, mergers and acquisitions, licensing, and commercial operations. Gregg is an accomplished, hands-on executive with extensive management and board experience in both large and small companies with differing areas of therapeutic focus and business models. Their diverse industry backgrounds will be valuable as we execute our product development strategies based on both our dendritic cell and stem cell technology platforms and pursue business development transactions to further build ImmunoCellular into a leading cancer immunotherapy company.”
Mr. Schlossberg currently serves as Senior Vice President, General Counsel and Corporate Secretary of Impax Laboratories, Inc., where he is part of the senior management team responsible for the strategic direction and financial condition of the company. He leads the legal team and previously had responsibility for the healthcare compliance team. Prior to Impax, he served as Vice President, Associate General Counsel of Amgen Inc., where he led the legal department, and was responsible for corporate governance, securities law, licensing, mergers and acquisitions, global operations, and sales and marketing compliance. Prior to joining Amgen, he held legal and business positions at Medtronic, Inc., and legal positions at Diageo plc, RJR Nabisco, Inc. and Mudge Rose Guthrie Alexander & Ferdon. Mr. Schlossberg holds a Bachelor of Sciences in business administration, finance from the University of Southern California and a Juris Doctor degree from Emory University.
Mr. Lapointe is currently the Chief Executive Officer of Cerium Pharmaceuticals, Inc., a specialty pharmaceutical company. He previously served as Chief Operating Officer and then as Chief Executive Officer of Sigma-Tau Pharmaceuticals, Inc., a pharmaceutical company focused on rare disorders and the U.S. wholly-owned subsidiary of Sigma-Tau Finanziaria S.p.A. Lapointe is a Certified Public Accountant (Illinois). He holds a Bachelor of Commerce degree from Concordia University of Montreal, a Graduate Diploma in Public Accountancy from McGill University of Montreal and a Master of Business Administration degree from Duke University. Mr. Lapointe also serves on the Boards of Directors of SciClone Pharmaceuticals, Inc., Soligenix, Inc., and Raptor Pharmaceuticals Corp.
The appointment of Mr. Schlossberg and Mr. Lapointe as independent members of the Company’s Board of Directors enables ImmunoCellular to regain compliance with the listing standards of the New York Stock Exchange MKT regarding the majority of independent directors’ requirement as well as having at least three independent directors serving on the Audit Committee. (Original Source)
Shares of ImmunoCellular Therapeutics closed yesterday at $0.48. IMUC has a 1-year high of $1.03 and a 1-year low of $0.35. The stock’s 50-day moving average is $0.43 and its 200-day moving average is $0.48.
On the ratings front, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on IMUC, with a price target of $3, in a report issued on August 13. The current price target represents a potential upside of 525.0% from where the stock is currently trading. According to TipRanks.com, Pantginis has a total average return of 0.3%, a 40.8% success rate, and is ranked #1988 out of 3768 analysts.
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.