You can take away the .OB, but you can’t take away the momentum from the penny stock of ImmunoCellular Therapeutics Ltd. (NYSE MKT: IMUC). We added IMUC to the list of penny stocks to watch on December 1 of last year when Wall Street analysts at Global Hunter Securities initiated coverage with a “buy” rating on the stock. We issued a watch alert on IMUC stock on January 31st when it was trading at just $1.63.
Well, IMUC left the OTC Bulletin Boards earlier this week to join the NYSE MKT and is now up 141% since we issued our alert.
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The Company announced today that it will be presenting new data from the previously completed Phase I clinical trial of ICT-107, IMUC‘s lead cancer vaccine candidate for the treatment of glioblastoma multiforme (GBM), at the 2012 Annual Meeting of the American Society of Clinical Oncology (ASCO) in Chicago, IL.
The abstract, titled “Correlation of survival with tumor antigen expression in patients with newly diagnosed glioblastoma receiving a multi-epitope pulsed dendritic cell vaccine” (Abstract #2087), has been accepted for presentation on June 2, 2012 from 1:15 PM to 5:15 PM, during the Central Nervous System Tumors General Poster Session. The data will show that there is downregulation of both the tumor associated antigens that ICT-107 is targeting as well as CD-133, a cancer stem cell (CSC) marker, in some of the patients. These observations suggest that targeting antigens highly expressed by CSCs is a promising strategy for treating patients with GBM.
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. The Company has commenced a Phase II trial of its lead product candidate, ICT-107, a dendritic cell-based vaccine targeting multiple tumor-associated antigens for glioblastoma.
Bottom Line: We Know Penny Stocks. IMUC shareholders who owned this while it was 0.28 back in 2009 or even those who just got into the penny stock in January at the 0.98 YTD low, congrats to holding on to reap the rewards of uplisting to the NYSE MKT exchange. A whole new group of deeper pockets are in this exchange and $5 is within reach.
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