OncoSec Medical Inc (ONCSQ): 8-k released today. Ernie, while you are...

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guti

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Tuesday, 01/26/2016 8:56:35 PM

Tuesday, January 26, 2016 8:56:35 PM

8-k released today. Ernie, while you are trying to figure out why the share price dropped significantly for a year and a half, today a Termination of a Material Definitive Agreement with Merlin was informed to the SEC.

OncoSec and Merlin had entered into a Research and Development Services Agreement in March 2015. Under the Amended Agreement, Merlin has provided research and development services to Oncosec. They have developed a catheter device used to treat visceral tumors. After reviewing the cost and efficiency of its programs, Oncosec has terminated the Amended Agreement in a notice to Merlin dated January 21, 2016. The termination date will be effective February 21, 2016. Oncosec will now work with Merlin to transition Merlin’s projects in advance of the termination date. Expect news before the termination date on what $1.5 million in cost has given to Oncosec.