OncoSec Medical Inc (NASDAQ:ONCS) Shares React to Positive Phase II Data

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OncoSec Medical Inc (NASDAQ:ONCS) shares fell 6.58% to $1.42 and an additional 1.41% in after-hours trading. Share prices have been trading in a 52-week range of $1.03 to $3.49. The company has a market cap of $30.43 million at 19.73 million shares outstanding.

In a press release this week, OncoSec Medical Inc  reported new positive clinical data from a Phase II Investigator Sponsored Trial assessing the combination of its investigational intratumoral therapy, ImmunoPulse IL-12, and the approved anti-PD- 1 therapy in patients with unresectable metastatic melanoma. This trial is led by the University of California, San Francisco and is evaluating the following key endpoints: best overall response rate by Response Evaluation Criteria in Solid Tumors and immune-related Response Criteria; safety and tolerability; duration of response; 24-week landmark progression-free survival; median PFS; and overall survival.

The study indicated that ImmunoPulse IL-12 can increase response rates in patients who are not expected to respond to anti-PD-1 therapy alone. The combination therapy continued to demonstrate a favorable safety profile and was well tolerated.

“Collectively, these data suggest that intratumoral IL-12 DNA with electroporation in combination with pembrolizumab can effectively alter the tumor microenvironment by triggering adaptive resistance,” said Alain Algazi, M.D., the study’s lead investigator, and skin cancer specialist in the Melanoma Center at the UCSF Helen Diller Family Comprehensive Cancer Center. “This increases the substrate for a therapeutic PD-1/PD-L1 blockade while driving systemic anti-tumor immunity and concordant clinical responses in patients unlikely to benefit from anti-PD-1 monotherapy.”

“OncoSec’s vision to bring intratumoral gene therapies to the oncology market continues to advance with these positive, impactful data, which hold immense promise for cancer patients who are unlikely to benefit from immunotherapy,” said Punit Dhillon, OncoSec Medical Inc President and CEO. “These results provide a strong foundation for our planned Phase II registration trial, which will evaluate the combination of ImmunoPulse® IL-12 and an anti-PD-1 therapy in melanoma patients who have previously failed an approved anti-PD-1 therapy alone. We expect to initiate this study later in 2017.”

OncoSec Medical Inc is a biotechnology company that is focused on designing, developing and commercializing gene therapies, therapeutics and medical approaches to stimulate an anti-tumor immune response for the treatment of cancer.

Its lead product candidate, ImmunoPulse IL-12, consists of a plasmid construct encoding the proinflammatory cytokine, IL-12, which is delivered into the tumor through in vivo electroporation. As of July 31, 2016, the Company was pursuing two Phase II trials: ImmunoPulse IL-12 monotherapy in patients with metastatic melanoma and ImmunoPulse IL-12 plus pembrolizumab in patients with advanced, metastatic melanoma. In addition, it is pursuing ImmunoPulse IL-12 monotherapy in patients with triple negative breast cancer. Its ImmunoPulse product candidates are based on its deoxyribonucleic acid (DNA)-based immunotherapy technology, which is designed to stimulate the human immune system, resulting in systemic anti-tumor immune responses.

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With an upbringing rooted in deep ethical values, Yashu Gola knows how to put honesty and dedication into his articles. This young and dynamic financial analyst has done his graduation in IT engineering. His interests in financial writing have once brought him to our digital doorsteps. Since then, he has been an integral part of ForexMinute.com and writes the most captivating news-articles on the foreign exchange industry, cryptocurrencies, and medical marijuana trading.