The penny stock of OncoSec Medical Inc. (OTC: ONCS), a company treating advanced-stage solid tumors, had a rally from mid-December to February 1st gaining 488% . Today, ONCS announced the Commissioner of Patents, Commonwealth of Australia Patent Office, recently granted a new Method of Use patent for the company’s OMS ElectroOncology treatment platform. ONCS stock price is set top open at 0.181: 3.57% above the 50-Day moving average, -46.54% below the 200 Day moving average, and -85.63% below the $1.26 52-week high.
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ONCS Stock Chart
The Company recently filed their 10-Q for the period ended April 30, 2012. Amazingly for an OTC listed penny stock, they reported having $6,569,626 in cash and cash equivalents, total liabilities of just under $3 million, an accumulated deficit of just $4,607,267, no revenues as of yet, but operating expenses for the quarter of just $1,588,849.
There are 87.86 million shares outstanding for OncoSec. However,when scanning the Insiders holding ONCS stock, we found that Avtar Dhillon (see here) and Anthony Maida (see here) both are connected to Stevia First Corp. (STVF) with Dhillon getting the sweet deal of 500,000 stock options at $0.10 on STVF. Both were issued 100,000 stock options on ONCS executable at $0.21 back on April 25th.
Does it mean much about the connection with STVF? Not really.
About OncoSec Medical’s OMS ElectroChemotherapy
OMS ElectroChemotherapy is an investigational therapy being evaluated to reduce the rate of cancer recurrence without quality of life side effects. As a potential adjunct to surgery, this therapeutic approach involves removal (using a scalpel) of the tumor mass, without removal of excess healthy tissue, followed by treatment with OMS ElectroChemotherapy. This approach has been shown to selectively kill cancer cells that may exist in the surrounding tissue, which may result in a reduced rate of recurrence and the potential to complement standard-of-care surgical procedures as an alternative to surgery alone.
More information is available at www.oncosec.com.
To view the SEC filings for ONCS, click here.
Bottom Line: There is very little volume with this penny stock which is one thing traders do not like. In April, ONCS reported some very positive results from their of treatment of recurrent squamous cell carcinoma of the head and neck. If you like long biotech penny stocks, add ONCS to your list.
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