It may have been a money saving thing. Current salary (220K vs. ~135K (11.2K * 12 months)). Maybe his involvement didn't equated to 220K a year.
Roth Capital affirms ImmunoCellular Therapeutics (Nasdaq: IMUC) with a Buy rating and $3 price target after the company announced that the governing Board of the California Institute for Regenerative Medicine (CIRM), California's stem cell agency, has awarded the Company $19.9 million to support the ICT-107 phase 3 registration trial in patients with newly diagnosed glioblastoma.
Analyst Joseph Pantginis commented, “We believe this is a significant achievement for IMUC and has removed a major overhang on the shares as the Phase III is now fully funded with current cash (2Q15 cash of $30.9 million) and this major grant. Recall the Phase III recently received a SPA from the FDA and is still slated to start in 4Q15. the study will enroll ~400 patients with HLA-A2 status at ~120 sites in the U.S., E.U. and Canada. The primary endpoint of the study is overall survival (OS) and is expected to begin late this quarter or early 4Q15. PFS is the main secondary endpoint as well as patient stratification by MGMT status and their OS outcomes.”
“In this Phase III, patients will be randomized following surgery and chemoradiation. An additional step of analysis post chemoradiation will be added in order to exclude progressive patients prior to randomization, which should help improve chances of success. The company expects full enrollment to take ~2 years and 2-3 additional years for the needed survival events to occur. Two interim analyses are planned, a futility analysis at 30% of events and an efficacy analysis at 66%. These are expected to occur at ~2 and ~2.5 years following the first patient randomized. With the potential of "time to data" representing another overhang, we expect the company to draw potential visibility from both ICT-121 and the Stem-to-T-Cell program.”
Initiate Stem-to-T-cell program to drive toward a clinical candidate
Complete enrollment of ICT-121 phase 1 trial in recurrent glioblastoma; potential data in 2016
Continued evaluation of inbound opportunities to build our pipeline
Keep in mind the time you were buying at $2 so was Crestview (Jeff Marcus, Board Member, ~30% of Cumulus shares now). Most likely he is licking his chops now with the current value, but probably can't because of "insider" view and a lockout period. Once the gates open back up I expect him and his firm will be scooping up shares. Time to buy more if you can...GL.
Lots and lots of questions.
Noble Financial affirms Cumulus Media (Nasdaq: CMLS) at Buy with a price target of $8 following Q3 results and guidance. (Nov, 2014)
Analyst Michael Kupinski noted the following key points:
Third quarter revenues were largely in line with our estimates, which anticipated a soft advertising environment
Advertising trends appear to be improving in the fourth quarter; management indicated that core growth is pacing up with National and Local up in the double digits and in the low single digits, respectively
Despite the positive tone in core advertising in the fourth quarter, the company provided guidance that was lower than our estimate; as such, we are adjusting our estimates
Still a free cash flow story; management indicated that it plans to pare down debt by roughly $600 million over the next 18-24 months; a dollar in debt pare down should increase the equity value of the stock, or as much as $2.55 per share
Near current levels, the CMLS shares offer a compelling 21.8% free cash flow yield; we believe that the shares are compelling and timely given the prospect of an improving advertising outlook
Wow, that was fast. I guess the stock decline was telling the Cumulus board it was time for a change. I guess fresh thinking will be good for Cumulus and its employees. Waiting to here what the analysts have to say.
Top dollar would be $7-$10. That would consist of the success of phase III and a growing pipeline, that's currently in process.
Where did you hear that from? If it came from the trash talking mouth of Jerry Del Colliano, it means nada! Fly by night yapper looking for a buck.
Yes, I know the 20M grant coming in has terms and the other 30M will help people, which is great! Just saying! 55 cents means 10 cents under company value and their entire pipeline is worthless. Bio tech dumping can be the only logical anseer.
lilgodfther, nice name btw, you are rigth on. Once we past the penny flippers, I expect imuc to make a steady upward tread and a nice pop during the "January Affect".