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Shares of ImmunoCellular Therapeutics, Ltd. (IMUC) are up 24% after the company received an SPA from the FDA to run a phase 3 clinical trial in patients with Glioblastoma. More specifically the trial will enroll 400 newly diagnosed patients with Glioblastoma who are HLA-A2 positive, across approximately 120 clinical trial sites. 

The primary endpoint is set to be overall survival for this phase 3 trial, which investors should notice. A phase 2 trial in Glioblastoma that used the company's vaccine ICT-107 failed to meet the primary endpoint of overall survival -- only improved OS by 2 months which was not statistically significant. But the vaccine did improve upon Progression-free survival by 2 months over placebo. That is why investors should probably trade this only, and be cautious if holding long-term.

ICT-107 may or may not succeed since there are more patients in the trial compared to the phase 2 trial from before with only 124 patients enrolled but that remains to be seen. The patients will continue to be enrolled in this phase 3 trial by either the 3rd or 4th quarter of 2015.