ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) has gained nearly 70% during the first two trading sessions of this week. In the last session, the stock traded with buzzing volume of 4.74 million shares, about 10-times its 30-day average volume of 457,387 shares.
Get a free technical analysis of IMUC.
ImmunoCellular is still trading approximately 70% below its 52-week high of $3.42. The stock crashed during last December as the company reported disappointing data from its ICT-107 related Phase II trial. The data suggested median overall survival of 2 months, missing the specified endpoint of a 9 month improvement. However, the company anticipated potential increase in median overall survival as the data matures.
Technical Analysis
When looking at the daily chart for the ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC), is in a strong uptrend and shows no signs of a reversal. The stock currently trades well above most of the important daily moving averages which is bullish sign. The relative strength index for the ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) continues to trend higher and shows no signs of reversal. The aroon oscillator currently trades in the strong buying zone which is bullish and gives no cause to be concerned.
In mid-November, ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) presented updated data from its ICT-107 Phase II trial. The data demonstrated a statistically significant PFS (progression-free survival) and numeric OS (overall survival) benefits in treatment arm compared to the control arm.
The randomized Phase II trial assessed efficacy and safety of drug candidate in patients with newly diagnosed glioblastoma multiforme following resection and chemoradiation. Median PFS for the ICT-107 treated group and control group were 11.4 months and 10.1 months, respectively, representing 1.3-month PFS benefit. Median OS for the ICT-107 treated group and control group were 18.3 months and 16.7 months, respectively, representing numeric 1.6-month OS benefit.
Most recently, ImmunoCellular announced that it received positive feedback from EMA (European Medicines Agency) on advancing ICT-107 to Phase III trial. The decision follows USFDA’s positive feedback related to the scope, design and endpoints of the Phase III program. The company is now finalizing the design for this program and exploring funding opportunities to being the trial in 2015.
ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) is a development stage company with pipeline portfolio including ICT-107, ICT-121 and ICT-140. The company is engaged in development of immune-based therapies targeting brain, ovarian and other cancer antigens and cancer stem cells.
ImmunoCellular incurred total of $4.64 million in R&D expenses during first nine months of 2014, increasing 19% from the prior year period. The company has increased its research and development expenses related to ICT-121 and ICT-140 during the first nine months of 2014. ImmunoCellular is expecting further increase in R&D expenditures in future periods as it prepares for ICT-107 Phase III program.
Conclusion: ImmunoCellular has strong cash position with balance of $23.51 million as of September 30, 2014, and limited current liabilities. During the nine months ended September 30, 2014, the Company raised $2.7 million and used $7.8 million in cash from operations. It’s current market valuation is approximately $46.9 million.
ImmunoCellular has made significant progress with ICT-107 development program. The company is also doing well in advancing ICT-121 phase I trial and commencing the exploratory phase II trial related to ICT-140. Positive data from ICT-107 Phase III program could help the company to begin with commercialization efforts and ensure first revenue generating candidate.
