ImmunoCellular (OTC: IMUC.OB): Griffin Maintains Buy Rating with $3.25 Target

Griffin Securities issued an updated research report today on ImmunoCellular Therapeutics (OTC: IMUC.OB), which includes a price objective of $3.25 per share. Below are some highlights from the report, which is available to view or download as a PDF at the BioMedReports.com research downloads section and at the ProActive News Room landing page for IMUC.

IMUC is an emerging cancer immunotherapy company that is developing therapeutic and diagnostic product candidates taking aim at the root cause of the disease, cancer stem cells (CSCs), based on two distinct technology platforms - active (cancer vaccines) and passive (monoclonal antibodies or mAbs).

1.) The Phase I trial of ICT-107 yields tantalizing efficacy data against glioblastoma and with no safety issues.

2.) Roche (OTC: RHHBY.PK) licenses ICT-69 antibody therapy for multiple myeloma and ovarian cancer; more deals in the making.

3.) Therapies advance in the R&D pipeline, and the Company is preparing for new clinical trials.

4.) We reiterate our BUY recommendation and maintain our target price of $3.25 per share.

Early next year (1Q10 which ends 3/31/10), IMUC expects to make an IND filing with the FDA for permission to begin human clinical trials for a Phase 1 study of its off-the-shelf cancer stem cell vaccine candidate (ICT-121). IND Filings for ICT‐121 are expected for Brain Tumors in US or Europe during 1Q10 while IND Filings for ICT‐121 for Pancreatic Cancer are expected in the US or Europe during 3Q10.

The BioMedReports.com FDA Calendar service includes a database with over 400 entries of (1) pending new drug, biological agent, or medical device new product decisions at the FDA (e.g. NDA, BLA, 510k, PMA, sNDA, and sBLA filings); (2) pending new submissions to the FDA; (3) pending complete response letter (CRL) re-submissions to the FDA; and (4) pending clinical trial results.

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Disclosure: Long IMUC.OB

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