OncoSec Medical (OTC: ONCS) announced that it would be presenting at the 3rd Annual Cancer Immunotherapy Conference on October 4, 2012, at the New York Academy of Medicine. The conference meshes researchers, clinicians, investors and business leaders into a single day event for the purpose of exchanging information and opportunities. President and CEO Punit Dhillon will present for OncoSec Medical.
The company also received another piece of exposure in a Seeking Alpha interview with Punit Dhillon. In the article printed yesterday, Dhillon gave a status report on the Phase III head and neck cancer clinical studies for its ImmunoPulse therapies. In addition, he expects the results for both the melanoma and Merkel cell carcinoma to be released by the end of the year.
At first, traders looked rather unimpressed with the news. The stock opened the trading session right where it left off on yesterday’s closing bell. By the time traders had made lunch reservations, share prices reached an intraday high of $0.25. In the afternoon, the stock treaded water. When the bell rang to signal the end of another trading day, the stock posted a gain of nearly 10%. For the session, share prices ended two cents higher than they did on Monday to close at $0.24. The number of shares traded during the session exceeded 3.7 million shares, which easily eclipsed the 587,000 traded on an average day.
Since April, the stock has traded rather flat in a dime range between $0.20 and $0.30. Right before the ringing of the New Year, shares traded at their 52-week low when buyers and sellers made an exchange for $0.12. At the end of January, the stock spiked to an annual high of $1.00. Any further rallies were dashed when the company announced a $7.75 million public offering on March 26, 2012. The offering closed on March 28, 2012, with the company selling 31 million shares at $0.25 per share, plus warrants for another 31 million shares with an exercise price of $0.35.
In other news, the company announced on September 25, 2012, that it had established the University of Washington as a site for Phase II metastatic melanoma trials. Studies will also be conducted at the University of California, the John Wayne Cancer Institute and Lakeland Cancer center.
On September 11, 2012, the company stated it had secured the license for Electroporation intellectual property from the University of South Florida. In effect the agreement extends the life of the patent for ImmunoPulse technology to the year 2024.
On July 23, 2012, OncoSec Medical reported its electrochemotherapy showed enhanced quality of life in Phase III clinical studies for patients suffering from recurrent squamous cell carcinoma of the head and neck.
OncoSec Medical is categorized as a drug-medical device company. The company, through electroimmunotherapy and electrochemotherapy, focuses on developing treatments for solid tumor cancers. Current treatment regimens for solid tumors use a combination of surgery and chemotherapy. The company’s technology relies on a direct delivery system of cancer-fighting drugs. The San Diego-based company was founded in 2008.
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