DD Support Board and Research Team

[DragonBear]

Going concern-per your post on that forum

Provide evidence of a scam.

Currently I'm in a small cap biotech, where they will file for a NDA after successful Phase 3 results early 2018. The FDA then rules on the NDA in one year or less. If approved, then it's ready for marketing. Assuming manufacturing capacity is present. The market is worried the $56M in cash they have won't be enough.

For comparison...

ONCX is still in Phase 1. Cash of $1.6M. They should be able to get through Phase 1 with that amount of cash. Not enough to cover Phase 2. And certainly not enough to cover Phase 3. So where are they going to get funding from? A couple of other red flags are:

Note the SG&A is higher than R&D expense. Paws in the cookie jar.

They apparently played a game of getting rid of the debt, but the largest cost expense still remains interest on convertible debt notes. Note the latest shelf offering takes the O/S from 103M to 146M. Another red flag is the A/S at 950M. They seem to expect to grow into it.

The usual route of a biotech startup is: Private company, infused with private equity. Get to Phase 2, obtain top level results, then IPO on the NAS. ONCX admits getting uplisted is a goal, and if it happens all kinds of things will convert to shares. So, how does a OTC Microcrap currently at 0.06, uplist to the NAS, and convince the market it's worth more than the minimal listing requirements? Especially if it arrives with 950M in a bloated O/S? They better have a large biotech partner announced, else uplisting seems a dream. But as we know, it's still a popular Microcrap scam angle.

How about the science? In theory blocking prolactin receptors should help slow down metastasis of breast, ovarian, prostrate cancers. I could find only one other clinical trial using a monoclonal Ab, which attempted this approach. Google LFA102. Although well tolerated, it failed in having any anti-tumor in vivo activity during Phase 1. If high prolactin levels are present in a cancer patient, then why not give Bromocriptine, to suppress pituitary secretion? And out of curiosity a Goog search yields they are using that drug in cancer patients to lower PRL.

Another tidbit is the Phase 1 trial in the CT database. It was first registered in 2015. Started in Feb 2016. Last update by ONCX was 14-Apr-2017. Yet the status as of last Apr was "recruiting". Due to have data Dec 2017, and final results Jan 2018, while in a status of "recruiting"?

I bring this up, because in another Microcrap it was the same scenario - a CT started, and a couple of years later it was still "recruiting". Eventually the trial was shutdown, because they attracted only 1 patient to participate in the trial. And he died 6 months later due to complications from his cancer. So it's not unusual for a Microcrap scam (even a well meaning one) to get a CT trial started, but never completed.

What is ONCX going to report in Jan? Did they get enough participants? Or will they throw out the red flag, that the CT is still ongoing, with results expected at the end of 2018 instead?

No, one can't yell scam yet. But if the O/S soars, that would be a strong sign. If they don't give results for Phase 1, another red flag. And/Or if they do give Phase 1 results, and pretend it's going to take many months to start Phase 2, yet another red flag. CT time delays don't make money. Currently odors are coming off of ONCX.