- In an update to investors, ImmunoCellular Therapeutics (NYSEMKT:IMUC) says it plans to focus its resources on developing its Stem-to-T-Cell program after suspending enrollment in a Phase 3 study of former lead candidate ICT-107 due to lack of money. Proof-of-concept work remains to be done before preclinical testing can start.
- The company thinks its approach to cancer immunotherapy will be a winner because it involves a more gradual and measured release of killer T cells than CAR-Ts which should prove to be less toxic while producing a more sustained response.
- Considering the long development timeline, management intends to reduce its operating costs by cutting jobs and downsizing facilities. It also expects to raise additional capital through a new equity offering and/or grants and awards.
- The company will host a conference call today at 5:00 pm ET to discuss its plans.
- Now read: theMaven reports Q2 results
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