SeeThruEquity Issues Company Update on TapImmune Highlighting Clinical Program Updates and Recent Financing

NEW YORK, NY / ACCESSWIRE / September 28, 2015 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued an update note on TapImmune Inc. (OTCQB: TPIV).

The note is available here: TPIV Update Note. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will be available on these platforms. The firm also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

“We expect TPIV to use the proceeds for general corporate purposes and to prepare initial Proof of Concept Phase II clinical studies in triple negative breast and ovarian cancer patients beginning the second half of 2015. Management has stated that the design of the proof of concept clinical studies will complement the clinical trial planned at Mayo Clinic following its $13.3mn grant from the Department of Defense. We are maintaining our 12-month price target of $6.97 per share” stated Ajay Tandon, Chief Executive Officer of SeeThruEquity.

Additional highlights of the note are as follows:

Department of Defense grant to cover costs of Phase II

On September 15, 2015, TPIV reported that the Mayo Clinic – a collaborative research partner with the company – had been awarded a grant of $13.3mn from the U.S. Department of Defense. The announcement is material for TPIV, as the grant commences immediately and will fully cover the cost of a 280 patient Phase II Clinical Trial of TPIV’s Folate Receptor Alpha Vaccine in patients with Triple Negative Breast Cancer. TPIV has the commercial rights to the vaccine, following a recent licensing agreement with The Mayo Clinic, which has potential therapeutic applications for ovarian cancer, breast cancer, endometrial cancer and non-small cell lung cancer.

Recent $4.9mn financing provides flexibility for TPIV

TPIV has made substantial progress on its balance sheet over the last several months, culminating in the exercise of 16.7mn Series B and Series B-1 warrants from August 19, 2015 to September 9, 2015. The exercise of these warrants took place at a strike price of $0.20 per share, and adds $4.9mn in new cash to TPIV’s balance sheet. Adjusting for the 2Q15 ending cash balance of $3.1mn, TPIV has access to an adjusted $8.0mn in cash on hand. TPIV will also benefit indirectly from the $13.3mn grant to The Mayo Clinic, as the company will have access to the data for Phase II the Clinical Trial, controls the IND application, and has commercial rights to the Folate Receptor Alpha Vaccine for patients with Triple Negative Breast Cancer being studied in the trial. While acknowledging that the warrant exercise price is well-below recent market prices and the price target, we note that TPIV has been operating with a going concern qualification from its auditors, Marcum LLP, and the transaction substantially eases liquidity pressure on TPIV while it pursues its clinical pathway.

Please review important disclosures on our website at www.seethruequity.com.

About TapImmune Inc.

TapImmune Inc. is an immunotherapy company specializing in the development of innovative technologies for the treatment of cancer, including metastasis, and infectious disease. The Company’s peptide or nucleic acid-based immunotherapeutics comprise one or multiple naturally processed epitopes (NPEs) designed to comprehensively stimulate a patient’s killer T-cells, helper T-cells and to restore or further augment antigen presentation by using proprietary nucleic acid-based expression systems. The Company’s technologies may be used as stand-alone medications or in combination with current treatment modalities. Please visit the Company’s website at http://www.tapimmune.com for details.

About SeeThruEquity

SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

For more information visit www.seethruequity.com.

Contact:
Ajay Tandon
SeeThruEquity
info@seethruequity.com

SOURCE: SeeThruEquity

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