LOS ANGLES--(BUSINESS WIRE)--ImmunoCellular Therapeutics (OTCBB: IMUC) issued the following Letter to Shareholders today:
Dear Shareholder:
ImmunoCellular Therapeutics had its strongest year yet in 2011, starting with the initiation of a Phase II study of our lead product candidate, ICT-107, and the announcement shortly thereafter of one of the largest financings in our company’s history. Many of the developments during 2011 have positioned the company for success in 2012. For example, we recently raised $10.4 million through a public offering underwritten by Cowen & Co. with Summer Street Research Partners acting as co-manager. With the completion of this offering, the company is now well financed to continue its planned operations at least through the end of 2013. In addition to fortifying our balance sheet, this financing signals investor confidence not only in our recent progress, but also and more importantly in our ability to continue our strong performance in 2012.
