ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) reported progress in its two lead cancer immunotherapy clinical programs: the phase 3 registrational trial of ICT-107 for newly diagnosed glioblastoma and the phase 1 trial of ICT-121 for recurrent glioblastoma.
In the ICT-107 phase 3 registrational trial, as of July 21, 2016, 109 patients have been screened in the US and Canada, with plans to randomize qualifying patients once they have completed standard of care and are re-screened (patients randomized in the trial are treated approximately 90 days following initial screening). In addition, clinical supplies (ICT-107 and placebo) for 12 patients have been manufactured. ImmunoCellular also reported that 56 clinical sites in the US and two sites in Canada have been activated, representing almost half the total number of the planned 120 sites for the trial.
ImmunoCellular has made progress toward initiating patient recruitment in Europe. The first clinical sites in Europe are anticipated to be activated in the third quarter of this year, and regulatory approval to begin the trial has now been received in the UK, the Netherlands and Spain. ImmunoCellular anticipates receiving regulatory approvals from all eight European countries participating in the trial in the third quarter of this year. In addition, ImmunoCellular’s European manufacturer, PharmaCell B.V., has notified it that their process is now qualified to manufacture ICT-107 under Good Manufacturing Practices (cGMP).
As previously disclosed, in September of 2015, The California Institute of Regenerative Medicine (CIRM) awarded ImmunoCellular up to $19.9 milliontoward financing the ICT-107 phase 3 trial. This award is distributed to ImmunoCellular in milestone payments that are primarily dependent on patient enrollment and randomization. In June 2016, ImmunoCellular amended the terms of its award from CIRM to (i) increase the project initial payment by $1.5 million, and (ii) reduce the potential future milestone payments by a corresponding $1.5 million. The potential total amount of the award from CIRM remains at $19.9 million, inclusive of amounts received to date. On July 18, 2016, ImmunoCellular received the $1.5 millionpayment from CIRM related to the increase in the project initial payment. To date, ImmunoCellular has received $5.5 million from CIRM.
ImmunoCellular also reports that the phase 1 open-label trial of ICT-121 in patients with recurrent glioblastoma has completed enrollment, reaching the target of 20 patients. The trial is being conducted at six sites in the US and preliminary results are expected within the next 12 months.
“I am pleased with the progress ImmunoCellular has made in implementing our ICT-107 and ICT-121 clinical programs,” said Andrew Gengos,ImmunoCellular Chief Executive Officer. “We continue to work diligently to advance these programs, as glioblastoma remains a high unmet medical need for which new treatments are needed. We appreciate the interest in our programs from the oncology community and our collaborators.” (Original Source)
Shares of ImmunoCellular are currently trading at $0.21, up 0.003 or 1.39%. IMUC has a 1-year high of $0.64 and a 1-year low of $0.20. The stock’s 50-day moving average is $0.24 and its 200-day moving average is $0.26.
On the ratings front, ImmunoCellular has been the subject of a number of recent research reports. In a report issued on June 8, Maxim Group analyst Jason McCarthy reiterated a Buy rating on IMUC, with a price target of $3, which implies an upside of 1342.3% from current levels. Separately, on March 31, Roth Capital’s Joseph Pantginis assigned a Buy rating to the stock and has a price target of $2.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason McCarthy and Joseph Pantginis have a total average return of -7.1% and 8.3% respectively. McCarthy has a success rate of 31.5% and is ranked #3850 out of 4081 analysts, while Pantginis has a success rate of 38.6% and is ranked #263.
ImmunoCellular Therapeutics Ltd. is a Los Angeles-based clinical-stage company that is developing immune-based therapies for the treatment of brain and other cancers. ImmunoCellular has concluded a phase 2 trial of its lead product candidate, ICT-107, a dendritic cell-based immunotherapy targeting multiple tumor-associated antigens on glioblastoma stem cells. ImmunoCellular’s pipeline also includes: ICT-121, a dendritic cell immunotherapy targeting the CD133 antigen on stem cells in recurrent glioblastoma; ICT-140, a dendritic cell immunotherapy targeting antigens on ovarian cancer stem cells; and the Stem-to-T-cell research program which engineers the patient’s hematopoietic stem cells to generate antigen-specific cancer-killing T-cells.