ImmunoCellular Therapeutics (AMEX:IMUC) saw its shares rise 12 per cent Thursday after Maxim Group analysts began coverage of the company and put a buy rating on the stock.
Shares exceeded their 50 day average volume earlier today as shares were lately up by 12 per cent at $3.25 in the afternoon.
Yesterday, the company reported it finished enrolling patients in a phase 2 clinical trial for ICT-107, a dendritic cell-based vaccine aimed to treat glioblastoma, an aggresive type of brain cancer.
The phase 2 trial, which is a placebo-controlled and double blind study, enrolled 278 patients across 25 sites participating in the trial.
The trial's primary goal is overall survival, with secondary goals including progression free survival, immune response and safety.
"We believe ICT-107 represents the next generation of cancer immunotherapy by targeting both tumor cells and cancer stem cells with a dendritic cell-based vaccine," ImmunoCellular chief executive John S. Yu said in a statement Wednesday.
ImmunoCellular said depending on the trial's progress, results could be available sometime in the late second half of 2013.
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