OncoSec Medical Inc (ONCSQ)

[trading.jeff]

OncoSec to cut workforce by 45% as part of corporate restructuring

OncoSec Medical (NASDAQ:ONCS) on Tuesday said it would reduce its workforce by about 45% as part of a restructuring intended to focus expenses on the development of its lead clinical candidate Tavo.

The company is evaluating Tavo in a phase 2b trial called KEYNOTE-695 for the treatment of metastatic melanoma, the most serious type of skin cancer.

"Since joining as CEO my focus has been on reviewing all aspects of our technology and pipeline. This led to the conclusion that an operational restructuring and strategic pipeline refocus is the best course of action," ONCS top boss Robert Arch said in a statement.

The company said results of the KEYNOTE-695 trial's secondary goal was expected in Q4 of this year, while results from the main goal was expected in Q1 2023.

https://seekingalpha.com/news/3888688-oncosec-to-cut-workforce-by-45-as-part-of-corporate-restructuring?mailingid=29268839&messageid=2900&serial=29268839.319&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=29268839.319

$ONCS