LOS ANGELES--(BUSINESS WIRE)-- ImmunoCellular Therapeutics (OTCBB: IMUC) issued the following Letter to Shareholders today:
As the summer comes to a close, I wanted to update you on the Company’s accomplishments this year, which set the stage for an exciting fall. The first eight months of the year have been very successful, with the Company attaining many of its goals, despite a very difficult economic environment, which has created challenges for many small biotechnology companies. Today, IMUC is in its best financial position ever and well positioned to validate the success it achieved in a Phase I trial for ICT-107, its dendritic cell-based cancer vaccine product candidate. We expect to begin a Phase II study prior to the end of the year, which will be the broadest and most comprehensive study of the ICT-107 vaccine to date. Some of the recent corporate highlights include:
We are also opportunistically looking into other product candidates to be developed with our peptide-based vaccine approach for other cancer indications, such as ovarian cancer, and have plans to expand our business in other indications beyond glioblastoma in the next year. Our mission continues to be centered on using state-of-the-art science and technology to become a leading cancer immunotherapy company. We believe that ICT-107 has the potential to change the way glioblastoma and other cancers are treated, and we believe that we are entering a period of potentially great value creation for shareholders as we initiate this Phase II study.
We look forward to sharing these, and other corporate developments with our shareholders in the coming months.
|Manish Singh, Ph.D.|
|President and CEO|
This letter contains certain forward-looking statements that are subject to a number of risks and uncertainties, including without limitation the need for substantial additional capital to fund development of product candidates beyond their initial clinical or pre-clinical stages; the risk that the safety and efficacy results obtained in the Phase I trial for the dendritic cell-based vaccine will not be confirmed in subsequent trials; the risk that IMUC will not be able to secure a partner company for development or commercialization of ICT-107; the need to satisfy performance milestones to maintain the vaccine technology licenses with Cedars-Sinai; the risks associated with obtaining FDA clearance to commence clinical trials of the cancer stem cell vaccine on a timely basis or at all, including the need to successfully complete required animal toxicity studies; the risks associated with adhering to projected preclinical or clinical timelines and the uncertainties of outcomes of development work for product candidates, including those based on destroying cancer stem cells as a potentially safe and effective treatment for various cancers; the risk of obtaining patent coverage for the dendritic cell-based vaccine or cancer stem cell vaccine or that any patents covering those vaccines or IMUC’s monoclonal antibodies will provide commercially significant protection for these technologies; the risk that IMUC will be unable to secure complementary technologies or partners or licensees for its monoclonal antibodies on attractive terms or at all. Additional risks and uncertainties are described in IMUC’s most recently filed SEC documents, such as its most recent annual report on Form 10-K, all quarterly reports on Form 10-Q and any current reports on Form 8-K. IMUC undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CEOcast, Inc. for ImmunoCellular Therapeutics, Ltd.
Gary Nash, 212-732-4300
KEYWORDS: United States North America California
INDUSTRY KEYWORDS: Health Biotechnology Clinical Trials Oncology Pharmaceutical