OncoSec Medical’s (OTC: ONCS) CEO and President, Punit Dhillon, revealed in an interview published in Seeking Alpha that not only will the company provide the subset data from the melanoma and Merkel cell program before the end of 2012, but will also provide an update on deals pertaining to the NeoPulse program. The CEO also expressed displeasure over the valuation of OncoSec considering the timely data and efficacy results.
The California-based biopharmaceutical company is currently developing an advanced-stage ImmunoPulse DNA-based immunotherapy and NeoPulse therapy to treat solid-tumor cancers. OncoSec, positioned in the cancer immunotherapy space, uses a patented electroporation platform for enhancing cancer drug delivery and uptake of a locally delivered DNA-based immunocytokine. The potential outpatient clinic treatment provides the same benefits as other drug delivery methods apart from mitigating concerns related to other intralesional therapies. Using an electric field, the OMS device efficiently delivers DNA into cells. Since these electric fields dissipate once the electroporation is stopped, there is no concern about residual long-term effects. The Phase I study demonstrated that only one week of treatment could result in clinical benefit for late-stage cancer patients.
In the interview, CEO and President Punit Dhillon stated that the company has completed the analysis of the Phase III head and neck cancer data and presented those results at this year’s International Head and Neck Cancer Conference held in July in Toronto, Canada. With regard to the Phase III and IV NeoPulse trials, Dhillon informed that the company is currently evaluating the extensive database of information obtained and the results are likely to be published in the first quarter of 2013.
When questioned on the use of third parties to review the data, the CEO replied that even though beneficial, it is not a priority to the company. Punit Dhillon elaborated that in the case of the NeoPulse program, the objective is to present the data for evaluation to a number of specifically targeted potential partners as a license opportunity. Dhillon also added, “If we can land a partner for this program, which we see as a near-term commercial opportunity, then we feel that this would be a significant validation of our data and the NeoPulse program”.
Dhillon also said that interim analysis for both the melanoma trial and the Merkel cell carcinoma trial is currently underway and expects the results to be available before the end of 2012. When asked to speak from a financial and investment point of view to shareholders, Dhillon stated that OncoSec is extremely undervalued considering the data and efficacy results. He also claimed that the company’s Phase I data is the best in class for any metastatic melanoma program in history. Dhillon underlined that OncoSec has met every milestone that it set out to reach. Claiming that the company expects to complete even more milestones by the end of 2012, Dhillon confirmed the possibility of an uplist to the big boards and targeting international markets.
Reiterating that OncoSec is undervalued, Dhillon said, “In less than two years, OncoSec has started three phase II clinical trials. Two of which have already exceeded enrollment goals. When you look at our data and efficacy results, along with our clinical pipeline and company milestones, it can definitely be argued that OncoSec is extremely undervalued”.
OncoSec announced that Punit Dhillon will present an overview of ImmunoPulse at the 3rd Annual Cancer Immunotherapy Conference on October 4, 2012, at the New York Academy of Medicine.
After hovering between $0.18 and $0.20 per share for nearly six months, OncoSec ended the day at $0.2399 per share, up $0.0209 or 9.5% on a volume of 3.71 million shares.
