ImmunoCellular Therapeutics Ltd (OTC:IMUC) has been moving up progressively over the past week. Yesterday, the stock 
added another 8.05% to its price on an increasing traded volume. But what’s behind the gain?
The only reasonable explanation for the climb appears to be the latest news by IMUC. On Sept 12, the company reported a 55% overall survival at three years from Phase I study in Glioblastoma.
The optimistic news immediately pumped up IMUC stock price and it started to climb. Though, it was supported by seekingalpha.com, which featured the stock on the same day the news was released.[BANNER]
IMUC is a LA-based clinical-stage company that is developing immune-based therapies for the treatment of brain and other cancers. In the beginning of this month, the company tried hard to secure its market position, though unsuccessfully. Now, the gain is finally achieved, however, the financials of IMUC haven’t changed yet.
As of June 30, 2011, the company’s cash and cash equivalents increased significantly, though its accumulated deficit exceeded $27 million. While at the same time the net loss remained substantially high and revenues continued pointing $nil.
Still, the management believes that their existing capital will be sufficient to fund their operations for at least the next twelve months. Though, they do not anticipate deriving any revenues from either product sales or licensing in the foreseeable future.
