CARLSBAD, Calif., Dec. 20 /PRNewswire-FirstCall/ -- The Immune Response
Corporation (OTC Bulletin Board: IMRP), an immuno-pharmaceutical company
focused on developing products to treat autoimmune and infectious diseases,
announced today that its common stock is now trading under the symbol
"IMRP" effective December 20, 2006 as a result of its previously approved
one-for-100 reverse stock split. Also effective on December 20, 2006, the
Company's publicly traded "Class B" warrants will trade under the symbol
"IMRPZ."
"Next year has the potential to be a landmark year for our company as
the strategic plan we implemented at the outset of 2006 continues to bear
important results," said Dr. Joseph O'Neill, President and CEO. "Completing
this planned reverse split is a key enabling step in realizing shareholder
value from the clinical and scientific progress we have made with our
multiple sclerosis as well as our HIV/AIDS program. These programs
potentially offer important clinical advances that could benefit millions
of patients around the world and position our products as leaders in the
multi billion dollar MS and HIV markets. Normalizing our share price and
restructuring the capitalization of our company is intended to enhance our
visibility in the marketplace, make us more attractive to the broader
investor and analyst community as well as position us to seek a listing for
our common shares on one of the major stock exchanges or marketplaces. I
firmly believe that Immune Response has the strategy, science, people and,
now, the capital structure in place to deliver significant upside to our
shareholders."
About The Immune Response Corporation
The Immune Response Corporation (OTC Bulletin Board: IMRP, formerly
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 with the intent 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-naïve 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.
INVESTOR CONTACTS: COMPANY CONTACT:
Gene Marbach Michael K. Green, COO and CFO
Makovsky & Company The Immune Response Corporation
(212) 508-9645 (760) 431-7080
gmarbach@makovsky.com info@imnr.com
Robert Giordano
ROI Associates
(212) 495-0201
rgiordano@roiny.com
SOURCE The Immune Response Corporation
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Related links:
http://www.imnr.com
CONTACT:
Investors, Gene Marbach of Makovsky &
Company, +1-212-508-9645, gmarbach@makovsky.com; or Robert
Giordano of ROI Associates, +1-212-495-0201, rgiordano@roiny.com,
both for The Immune Response Corporation; or Michael K. Green,
COO and CFO of The Immune Response Corporation, +1-760-431-7080,
info@imnr.com
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