Friday, 25 May 2012

ImmunoCellular to list on NYSE:MKT

Biotech firm ImmunoCellular Therapeutics (OTC:IMUC) reported that its common stock will now be listed on the New York stock Exchange, as the company seeks a broader investor base.

The California-based company develops novel therapies to fight against cancer using the immune system.

ImmunoCellular said it will begin trading on Wednesday, May 30 under the "IMUC" ticker on the NYSE:MKT.

Earlier this month, NYSE Euronext changed the exchange name from NYSE:AMEX to NYSE:MKT.

"This listing marks an important step in our company’s development by giving us access to a broader investor base and should provide increased transparency and liquidity for investors owning our stock," ImmunoCellular chief executive Manish Singh said in a statement.

NYSE Euronext’s co-head of U.S. listings, Scott Cutler, said: "IMUC will be joining other growth oriented companies in the U.S. taking advantage of the NYSE’s advanced and innovative market model to offer a premier value for listing and trading their stocks."

The listing approval is subject on the company continuing to meet all of the initial listing requirements on the day it is scheduled to commence trading.

On May 9, the company announced that it enrolled 189 patients for its Phase 2 clinical trial for its cancer based vaccine candidate.

It has initiated the trial in 25 sites, with patients enrolled in medical centers like Mass General Cancer Center and the Dana Farber Cancer Institute.

The company expects to enroll about 200 or more patients in the trial, and should be completed by the second quarter of 2012.

The Phase 2 trial of the cancer vaccine, ICT-107, is a double-blind, placebo-controlled, 2:1 randomized study designed to evaluate the safety and efficacy of the vaccine in patients with newly diagnosed GBM.

Rather than simply targeting a single tumor-specific antigen, the company's vaccine pursues multiple different antigens found on cancer stem cells (CSCs).

Cancer stem cells are thought to be the originators of common tumor cells. It is believed that destroying the CSCs will allow for longer survival without relapse.

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