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Nice volume today and in a very tight range. Ready for a new move to the upside.
Eventually we will get.....squuueeezed! and she pops big time!
Niiiiice! I like it !
The daily volume in the past month since the updated info on the current Merck combo study was released has been much higher than most sessions in the previous year so I am pretty happy with that. The market definitely has an eye on Oncosec now. SITC detailed results and anticipation into next years interim data on PISCES will keep people watching because good results will definitely mean a much higher share price. We are in for good times here.
I think stakes are slowly and quietly being built. Many people giving away their shares in disgust. I am still holding out.
No matter really, if it isn't Kerrisdale it is someone else. I watch whalewisdom.com for the holders. This should be updated with a lot more buyers this past quarter with the increase in volume we have seen in the last few weeks. Big turnaround in progress here.
Kerrisdale has not released the information yet this morning who the stake was in, but it sounds like it could be Oncosec .
What are the odds that Mitchell Kopin (Intracoastal Capital LLC) and Jordyn Kopin (who worked for Oncosec in 2014) are related? Mitchell Kopin has had a close eye on Oncosec for some time. I would say he has pretty good knowledge of what Oncosec has to offer.
Kerrisdale Capital is stimulating speculation on Twitter about a new stake:
"We've bought 7% of a heavily shorted biotech that's worth 4x+ higher than current trading levels. Releasing report tomorrow".
This sounds like it might be a stake in Oncosec. We will see tomorrow.
Mitchell Kopin was in Oncosec in 2014, early to the party like most of us, but he is back in now with a larger percentage stake. He knows the Oncosec story and this time.... the timing is right.
Yup! Definitely another 50,000 share purchase. So obvious what is going on here. We are getting ready to pop heading into 2 SITC late breaking abstracts. We could see game-changing data....bank on it!
Like Buffett, his name is stock moving so it is not surprising. I think he may actually have a larger stake in it too. Checkout guru focus article.
https://www.gurufocus.com/news/585917/steven-cohen-takes-57-stake-in-cancer-biopharma-oncosec
Steven Cohen (Trades, Portfolio), chairman and CEO of hedge fund Point72 Asset Management, bought OncoSec Medical Inc. (NASDAQ:ONCS), stretching his sizable positioning in the healthcare industry.
Cohen has 18.4% of Point72 Asset Management’s 809 long positions invested in the healthcare industry. The $187 billion portfolio of Point72 Asset Management is part of Cohen’s Point72, a family asset manager he opened after his former hedge fund, SAC Capital Advisors, was investigated for insider trading.
Point72 bought 5.7% of the company, consisting of 1.7 million shares, on Oct. 25. The transaction was valued around $1.96 million, though Cohen may have been the institutional investor the company said on Oct. 25 bought shares through a definitive purchase agreement.
A biopharmaceutical company, OncoSec Medical Inc. has developed an intratumoral cancer immunotherapy called ImmunoPulse that stimulates the immune system to attack tumors. The therapy has shown an acceptable safety profile and preliminary evidence of anti-tumor activity in various types of skin cancers, as well as the potential to initiate a systemic immune response without toxicities of other treatments.
OncoSec has four treatments in its pipeline. The closest, for metastatic melanoma, is in Phase II of a three-phase process for approval. Three others are in earlier stages.
The company had no revenue and net losses of $5.8 million, or 28 cents per share, compared to net losses of $6.6 million or 39 cents per share for fourth quarter fiscal 2017, which ended July 31.
When Steven Cohen takes a large position in an under recognized microcap stock like Oncosec, people should listen.
Read what happened to Celator when he took a position last year.
http://www.businessinsider.com/steve-cohen-discloses-celator-stake-2016-3
It went from the $1 range to $30 on a buyout from Jazz Pharma.
Oncosec is going to score a really nice licensing deal with Merck when PISCES data is revealed. Merck needs to buy growth and the only way to get it is to do more deals that augment the one-trick pony they have....Keytruda. They would like to be JNJ but they are not. More restructuring and possibly an animal health sale next year like Lilly is thinking about will provide billions of dollars to fund future deals for their combination studies with small caps like Oncosec.
LONCAR should include ONCS in their index with the excellent data so far.
I like this Merck CEO quote:
“Our performance in the third quarter demonstrates the strength of our underlying business, with growth from key product launches, good global demand for vaccines, as well as strength from our Animal Health business. We will continue augmenting our pipeline through value-creating business development like our oncology collaboration with AstraZeneca to address unmet medical need and drive future growth.”
Oncosec is trying to address an unmet medical need too.....sound similar.
DEAL TIME!
Both companies need it.
Few more large buys at 1.17 for 15,000 shares. Price continues to slowly move up.
More large buys slipping in here and there at 20,000 and 10,000 shares. Looking good for a move up.
I noticed that between the selling somebody is picking up in 50,000 share lots. That must be an Institution. I am looking forward to the next quarter holding updates to see who has been adding.
I usually check on:
whalewisdom.com
Yes, I think he will be adding more Oncosec when he starts up his new hedge fund.
Similar situation could happen here. People will need to catch up to they story with Oncosec fast before the train rolls out.
I agree with this statement. The fact is that their is underestimated real value in Oncosec. Multiple orders of 50,000 shares already going through this morning. Looking good today.
We are going up. People may have a negative view of Cohen because of the investigation against him, but people are in the market to make money and he has an exceptional 30% annual return rate before any scandal. It means something that he is investing big here in a very undervalued stock with Oncosec. $5 Target near-term is doable into next year and then beyond.
That chart looks very good to me. It becomes more and more obvious that Oncosec is primed for a successful PISCES trial.
BioRunUp on twitter promoting the news about Point72 stake in Oncosec now. News is starting to spread. I have been away from my computer all day so I just saw this. I am stoked by the news!
That's what we need more of, solid investors. The sentiment will swing swiftly to positive for Oncosec. The ball is just getting rolling. Can't wait for SITC in a few weeks. Good times ahead.
Yes I did Guti. DRR data from Oncosec could be a very nice surprise. I noticed on the conference call today Punit mentioned the additional data to be released at SITC. I am looking forward to the detailed charts for individual patients compared to the previous data update on the current combo study. The Merck/Bristol battle for dominance is only going to heat up and I think overall Keytruda is going to win. Oncosec has been a real underdog these past years so maybe the PISCES data will change all that.
page 17?
Significant increase of proliferating “partially exhausted” CD8+ T cells with combination therapy
Oncosec will release additional data on DRR (durable response rate) from their current combo study at SITC. The abstracts are late-breaking so the data should be new and significant. DDR may be another factor that sets Oncosec apart from the competition besides 50% BORR and minor side effects.
for comparison here is a link to T-Vec data:
https://jitc.biomedcentral.com/articles/10.1186/s40425-017-0276-8
I like also like this statement in the closing announcement regarding the secondary offering: "OncoSec also announced today that it has entered into a definitive purchase agreement with an accredited institutional investor"
We are attracting more institutional interest now.
Let's keep our fingers crossed they score a licensing deal in the near future and we will be golden. This company has been completely underestimated and undervalued for so long. Time for that to change.
They are in good shape for now. I hope their is no need for another capital raise. According to the recent SEC filing for the offering they report "At July 31, 2017, we had $11.4 million in cash and cash equivalents" If they are burning around 2 mil a month we are probably closer to 14 or 15 million cash on hand after the current offering......I think. I hope they have more money than this but I think we are okay until PISCES data next year.
With the recent capital raise of 7 million minus the burn rate since past quarter and current quarter we should be around 14 to 15 million in cash, but that should be enough money to get us to PISCES data release before another raise is needed. If we strike a Licensing deal next year we will be in excellent shape. If we don't immediately get a deal then we are in for more dilution....but most likely shares would be sold at a much higher price in anticipation of a big deal after positive PISCES data release and an accelerated FDA approval.
We are almost to the finish line. We just need a licensing deal with Merck and all will be forgiven.
Oncosec has not been a comfortable stock to be in for years now, but the fact is that positive PISCES data next year may get them a licensing deal with Merck and that would finally lead Oncosec to a much higher value....there is no doubt about that. I will admit that it has been a really ugly ride here.
I see this as the absolute direction Oncosec is heading. More detailed data at SITC will confirm this. Once we have a licensing deal we will see a much higher market cap. Shorts can't have their way forever here.
Momentum will continue to build up until SITC abstracts are released. The preliminary data already released on the numbers representing a 50% BORR in predicted non-responders was excellent, but the detailed data will highlight the increase in partial responders to complete responders at 24 weeks. Dilution is out of the way now so the way is paved for the share price to move higher on the data.
Appears that this latest stock offering was handled by Wainwright, Oppenheimer was terminated, but not before they sold nearly 1 million shares for Oncosec.
Effective as of October 22, 2017, the Company terminated the equity distribution agreement (the “Distribution Agreement”), dated July 25, 2017, by and between the Company and Oppenheimer & Co. Inc. (“Oppenheimer”). The Distribution Agreement permitted the Company to offer and sell, by any method deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities Act and from time to time through or to Oppenheimer, acting as sales agent or principal, shares of its common stock having an aggregate gross sales price as specified in the most recent prospectus supplement filed with the Commission relating to such shares. As a result of the termination of the Distribution Agreement, no further offers or sales of shares of the Company’s common stock will be made thereunder. As of the date of this Current Report on Form 8-K, the Company has sold an aggregate of 897,311 shares of its common stock pursuant to the Distribution Agreement, for gross proceeds of $1,125,626 and net proceeds, after deducting Oppenheimer’s commissions and other expenses paid or payable by the Company, of $1,097,459.
so Oncosec netted around $7 million if you include another $1 million from Oppenheimer. I sure hope this is the last dilution before a licensing deal is struck.
This was actually a new stock offering, not the ATM agreement with Oppenheimer. Wondering why the shift in the offering all of a sudden. Must have had sudden interest from certain institutions....hopefully not just SABBY
NOTICED ALOT OF BUYING AT 1.05 AT THE END OF TODAY.
My take on Oncosec for the next year is this:
They now have a cash runway to Q3 of next year, enough runway to get them to PISCES data release.
If the results are good.....they sign a licensing deal with Merck and cash will not be a problem.
On good results I can't imagine Merck not doing a deal with Oncosec.
If they do a capital raise next year on good results it will be at a much higher share price which is good because Oncosec states that they will need substantial capital at that point for ongoing operations.
TNBC is still enrolling patients, so I see this as the next data release catalyst after SITC data on current combo study.
SABBY most likely is involved in this offering. They are the largest Oncosec holder and have been in and out of it from the beginning. The SEC filing states that purchasers would experience instant dilution to 1.05 per share. Must be the belief that SITC data is going to lift this share price right back up. Not sure why you would agree to be instantly diluted unless there is something more to this.
Of other interest Oncosec updated TNBC info stating they have enrolled half (5 patients). We should see some sort of data on this soon.