OncoSec Medical (OTC: ONCS) announced today it had received certification to the International Organization for Standardization. The certification means the company’s manufacturing processes are compliant with the European Union. Traders initially greeted the news with a degree of indifference as the stock opened unchanged at $0.20. The first full hour of trading garnered more enthusiasm from buyers when OncoSec Medical shares jumped to $0.23, the high for the day. About half of the 1.9 million shares traded on the day exchanged hands during that time. The day’s trading fell just shy of the average daily volume. The stock ended the day with a gain of 10% to close at $0.22.
Trading in shares of OncoSec Medical has been rather dull of late, with the stock flapping like a flag in a gentle breeze. Over the last several months, the price range has been locked between $0.30 and just under $0.20, with most of the action occurring at the lower end. For the last year, Oncosec Medical stock traded as high as $1.00, which occurred at the beginning of February. The low trade came before the New Year when the stock kissed $0.12.
Though it may not be obvious by the stock price, OncoSec medical has received some news-related attention lately. Two days ago, Seeking Alpha ran a story about cancer treatments, which highlighted the company along with three other biomedical peers. The article stated, “OncoSec Medical takes the prize as having the most novel approach for administering an adjuvant.”
OncoSec Medical designs, develops and commercializes therapies for the treatment of solid cancer tumors. The therapies use electroporation to deliver chemotherapy or nucleic acids encoding cytokines into tumors and surrounding tissue. As of January, the company had not reported any revenues from operations.
On July 23, 2012, Reuters detailed a report on data concerning two random Phase III clinical trials using electrochemotherapy.
The most recent newsletter activity for the stock came a little over a month ago when StockProfessors added OncoSec Medical to its list of stocks to watch. The full report can be found on Stockreads.com. Promoters of the stock buzzed quite a bit three weeks ago, but have been silent since. On July 9, 2012, Penny Trader Publisher noted, “Up 14% in morning trading to $.285 with 2M shares traded.” Penny Trader was not compensated for its comments. All 18 promotions for OncoSec Medical can be viewed on Stockpromoters.com.
The question for traders in the coming days is whether news is enough to stir excitement in buyers and drive the stock price higher. Volume does not appear to be lacking while share prices drift sideways. What will it take to get shares of OncoSec Medical out of the doldrums?
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