Summer Street Research Partners announced today the recent closing of a financing for ImmunoCellular Therapeutics (OTC:IMUC), a Los Angeles-based clinical-stage company that is developing immune-based therapies for the treatment of brain and other cancers. ImmunoCellular raised approximately $8.1 million primarily from U.S. based institutional investors. Summer Street Research Partners served as the lead placement agent for the transaction. As I write, shares of ImmunoCellular are down 4 percent at $2.15 per share on moderate volume of nearly 60,000 shares. The company has a market cap of $47 million and a 52-week range between $0.84 and $2.44 per share.The Company recently started a Phase II trial of its lead product candidate, ICT-107, a dendritic cell-based vaccine targeting multiple tumor associated antigens for newly diagnosed glioblastoma.
"Summer Street Research is very excited to be involved with ImmunoCellular, an innovative company with some of the most compelling data seen to date in Glioblastoma. We are delighted to assist them with this financing and the interest from high quality fundamental healthcare investors," said Al Sollami, CEO of Summer Street Research Partners.
Summer Street Research Partners is an investment banking, institutional equity research and trading firm that focuses exclusively on the healthcare sector.
For more information on Summer Street Research Partners, please visit its Web site: www.ssrp.com.
For more information on ImmunoCellular, please visit its Web site: www.imuc.com.
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