- Research Firm Places Speculative Buy Rating -
CARLSBAD, Calif., Oct. 26 /PRNewswire-FirstCall/ -- The Immune Response
Corporation (OTC Bulletin Board: IMNR) announced today that Spelman
Research, an equity research firm, has initiated coverage on the Company
with a price target of $0.059 per share, and a Speculative Buy rating. The
Immune Response Corporation's product pipeline has two clinical stage
therapeutics in Phase II development, NeuroVax(TM) for multiple sclerosis
(MS), and IR103 for HIV/AIDS. The report was issued by Spelman Research's
Stelian Mitu, an experienced investment research analyst, who received his
CFA charter in 2003 and MBA degree in 1997.
In the Spelman report, Mr. Mitu writes, "The drug candidates -- IR103
(HIV) and NeuroVax(TM) (MS) -- are based on innovative technologies that do
not have analogues on the market ... If successful, IMNR's drugs may offer
significant advantages over their competitors. Unlike existing therapies
for treating MS and HIV, which often have very strict administration
regimes, are highly toxic, have multiple side effects. IMNR's solutions
have so far proven to be safe, cause virtually no side effects and need
only be administered on a monthly or quarterly basis, which makes a big
difference against some existing therapies whereby patients have to take
several pills daily."
To Access the Spelman Research report on The Immune Response Corp
The Spelman Research report on The Immune Response Corporation is
available at:
http://www.roiny.com/clients-irc-research.php?f=IMNR-Spelman-Research-Report.pdf
For additional information, please email ROI Group Associates at
imnr@roiny.com or call Robert Giordano at 212-495-0201.
About The Immune Response Corporation
The Immune Response Corporation (OTC Bulletin Board: IMNR) is an
immuno-pharmaceutical company focused on developing products to treat
autoimmune and infectious diseases. The Company's lead immune-based
therapeutic product candidates are NeuroVax(TM) for the treatment of MS and
IR103 for the treatment of HIV infection. Both of these therapies are in
Phase II clinical development and are designed to stimulate disease
pathogen-specific immune responses aimed at slowing or halting the rate of
disease progression.
NeuroVax(TM), which is based on the Company's patented T-cell receptor
(TCR) peptide vaccine technology, has shown potential clinical value in the
treatment of relapsing forms of MS. NeuroVax(TM) has been shown to
stimulate strong, disease-specific cell-mediated immunity in nearly all
patients treated and appears to work by enhancing levels of FOXP3+ Treg
cells that are able to down regulate the activity of pathogenic T-cells
that cause MS. Increasing scientific findings have associated diminished
levels of FOXP3+ Treg cell responses with the pathogenesis and progression
of MS and other autoimmune diseases such as rheumatoid arthritis (RA),
psoriasis and Crohn's disease. In addition to MS, the Company has open
Investigational New Drug Applications (IND) with the FDA for clinical
evaluation of TCR peptide-based immune-based therapies for RA and
psoriasis.
IR103 is based on the Company's patented, whole-inactivated virus
technology, co-invented by Dr. Jonas Salk and indicated to be safe and
immunogenic in extensive clinical studies of REMUNE(R), the Company's first
generation HIV product candidate. IR103 is a more potent formulation that
combines its whole-inactivated antigen with a synthetic Toll-like receptor
(TLR-9) agonist to create enhanced HIV-specific immune responses. The
Company is currently testing IR103 in two Phase II clinical studies as a
first-line treatment for drug-naive HIV-infected individuals not yet
eligible for antiretroviral therapy according to current medical
guidelines.
NeuroVax(TM) and IR103 are in clinical development by The Immune
Response Corporation and are not approved by any regulatory agencies in any
country at this time. Please visit The Immune Response Corporation at
http://www.imnr.com.
This news release contains forward-looking statements. Forward-looking
statements are often signaled by forms of words such as should, could,
will, might, plan, projection, forecast, expect, guidance, potential and
developing. Actual results could vary materially from those expected due to
a variety of risk factors, including whether the Company will continue as a
going concern and successfully raise proceeds from financing activities
sufficient to fund operations and additional clinical trials of
NeuroVax(TM) or IR103, the uncertainty of successful completion of any such
clinical trials, the fact that the Company has not succeeded in
commercializing any drug, the risk that NeuroVax(TM) or IR103 might not
prove to be effective as either a therapeutic or preventive vaccine,
whether future trials will be conducted and whether the results of such
trials will coincide with the results of NeuroVax(TM) or IR103 in
preclinical trials and/or earlier clinical trials. A more extensive set of
risks is set forth in The Immune Response Corporation's SEC filings
including, but not limited to, its Annual Report on Form 10-K for the year
ended December 31, 2005, and its subsequent Quarterly Reports filed on Form
10-Q. The Company undertakes no obligation to update the results of these
forward-looking statements to reflect events or circumstances after today
or to reflect the occurrence of unanticipated events.
REMUNE(R) is a registered trademark of The Immune Response Corporation.
NeuroVax(TM) is a trademark of The Immune Response Corporation.
Spelman Research was compensated by the Company in the amount of
twenty-six thousand, five hundred dollars for this report. For more
information on Spelman Research please go to http://www.spelmanresearch.com.
The Immune Response Corporation (the Company) has filed a registration
statement (including a prospectus) with the SEC for the resale of the
shares underlying its March 2006 private placement, consisting of $8
million of convertible notes, and $24 million of short-term warrants, all
priced at $0.02 per share, plus certain other shares. This prospectus can
be viewed at
http://www.sec.gov/Archives/edgar/data/817785/000093639206000622/a18840b3e424b3.ht
m Before you invest, you should read the prospectus in that registration
statement and other documents the Company has filed with the SEC for more
complete information about the Company and this offering. You may get these
documents for free by visiting EDGAR on the SEC Web site at http://www.sec.gov.
Alternatively, the Company will arrange to send you the prospectus if you
request it by calling (760) 431-7080.
INVESTOR CONTACT: COMPANY CONTACT:
Robert Giordano Michael K. Green, COO & CFO
ROI Associates The Immune Response Corporation
212.495.0201 760.431.7080
rgiordano@roiny.com info@imnr.com
SOURCE The Immune Response Corporation
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Related links:
http://www.imnr.com
http://www.spelmanresearch.com
CONTACT:
Investors, Robert Giordano of ROI Associates,
+1-212-495-0201, rgiordano@roiny.com, for The Immune Response
Corporation; or Michael K. Green, COO & CFO of The Immune
Response Corporation, +1-760-431-7080, info@imnr.com
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