Shares in the penny stock of OncoSec Medical Inc. (OTC: ONCS), which is developing its advanced-stage ElectroOncology therapies to treat solid tumors, look to continue their rally this week. ONCS announced prior to the market open positive interim analysis of their Phase IV study from 81 subjects in a primary and locally recurrent squamous cell carcinoma of the head and neck in Europe. ONCS is set to open at around 19 cents today.
The study ONCS conducted demonstrates their therapy’s ability to provide local tumor control and quality of life outcomes favorably comparable to the standard outcomes that are associated with surgery. The results of OncoSec Medical’s Phase IV study were presented at the 5th European Conference on Head and Neck Oncology last Friday in Poznan, Poland.
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ONCS Stock Snap Shot:
Market Cap: 10.80M
(May 16, 2011): 1.99
(Dec 20, 2011): 0.12
Avg Vol (3 month): 641,187
Avg Vol (10 day): 1,761,290
Shares Outstanding: 56.86M
5 Day Stock History:
Percent Change: 11.71%
Moving Average 0.1776
Average Volume 2,600,648
ONCS focused its attention of this phase IV head and neck cancer study on assessing the ability of their OMS ElectroChemotherapy to control growth and/or recurrence of the cancer 8 months following treatment. The positive results displayed that local tumor control was achieved in 46/49 (94%) primary tumors and 12/21 (57%) recurrent tumors. Interim Analysis: No recurrence of the tumors was displayed during the monitoring period.
The results could have an impact on the penny stock of OncoSec Medical since they were on par with the expected outcomes of surgery. The safety evaluation of their OMS ElectroChemotherapy for the 81 patient study demonstrated that the treatment was safe and well-tolerated with no grade three or higher adverse events related to treatment reported during this study.
Bottom Line: ONCS had a nice run last week gaining nearly 12%. Is ONCS a penny stock to watch or to add to the list of penny stocks to buy, perhaps not. Think: Day Trade. Momentum will come in spurts and when it does, play the penny stock for what its worth, a few points.
RSI and MACD both support that momentum is not something that ONCS currently possesses.