Subscribers who got our penny stock alerts on OncoSec Medical Incorporated (ONCS) understanding it was a long setup have been emailing in all day today. The congratulatory replies are similar to the ones who went long other biotechs like PPHM and CBIS. After picking ONCS stock on June 24th and holding tight, today’s news of them receiving European Economic Area authorization to CE mark their proprietary gene and drug delivery platform, the OncoSec Medical System electroporation device, has sent the share price past 40 cents for the first time in seven months.
Essentially, traders of ONCS since the alert who have been playing the dips have more than doubled the long money that bought in as low as 19.6 cents.
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ONCS Stock Chart
Market Cap: 36.90M
Close: 0.42, up 0.085 (25.37%)
Volume: 6,883,810
Dollar Volume: $2,724,663
High: 0.438
Low: 0.345
Trades: 879
Average Trade Size: 7,831
Since Our June 24 Alert: 123.47%
June 25 stats: click here
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Today’s trading on ONCS was the highest volume session in nearly three months. As detailed in this morning’s PR, a CE mark solidifies that the OMS electroporation device has met all applicable directives of the European Commission and the laws and regulations of the EU member states. As such, OncoSec’s devices can now be commercialized within the 30-nation European Economic Area and Switzerland. Gotta remember Switzerland.
OncoSec’s electroporation device basically is a tumor-taser. It applies short electric impulses to a tumor, causing pores to open in the membrane of cancer cells, significantly increasing the uptake of anti-cancer agents into these cells.
Couple the granting of OncoSec’s CE mark together with the International Organization for Standardization’s 13485 standard for the “design, development, manufacture, and distribution of electroporation devices,” which the company received in July, and ONCS could soon be off to the races with their device manufacturing and eventually booking some revenues.
About ONCS Stock
OncoSec Medical Incorporated is a biopharmaceutical company developing its advanced-stage ImmunoPulse DNA-based immunotherapy and NeoPulse therapy to treat solid tumor cancers.
Click here to view the SEC filings for ONCS.
Bottom Line: ONCS was a great penny stock find when we were scanning for something to send out back in June. With the investor conference circuit they were scheduled for, it was simple to see that money was going to get thrown their way allowing long traders of ONCS stock to see a slow rise. The action on the shares this week alone looks like its steaming up to end the month grabbing for its 52-week high: $1.
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