OncoSec Medical Incorporated (ONCS) shares gained 5.48% in after-hours on Friday, June 25, 2021, and closed the week at $3.27 per share. Earlier in the morning session, ONCS’s stock lost 9.36% to close Friday’s session at $3.10 per share. ONCS shares have risen 56.57% over the last 12 months, and they have moved down 6.91% in the past week. Over the past three months, the stock has lost 39.33%, while over the past six months, it has declined 53.10%.
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Let’s see is there any reason behind the ONCS flip on Friday?
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New Appointments
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Net interim Chief Executive Officer
On June 24, 2021, OncoSec Medical Incorporatedappointedthe former chief operating officer as Interim Chief Executive Officer, effective June 25, 2021, after Daniel O’Connor resigned. Mr. O’ Connor also stepped down from his seat on the Board of Directors.
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New Vice President of Product Engineering
On June 14, 2021, OncoSec Medical Incorporated appointed Jeffrey Silverman as Vice President of Product Engineering, effective June 14, 2021.
Mr. Silverman had extensive global experience of 20 years in the development, manufacturing, and scale-up of Medical Devices.
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New Vice President of Program and Alliance Management
On May 17, 2021, OncoSec Medical Incorporated appointed Robert M. Schinagl, Ph.D., as Vice President of Program and Alliance Management, effective May 17, 2021.
Participation in the recent health conference
OncoSec Medical Incorporated recently participated at the Raymond James Human Health Innovation Conference which held virtually on Monday, June 21st – Wednesday, June 23rd, 2021.
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Encore data presentation of TAVO
OncoSec Medical Incorporated presented encore interim data from its KEYNOTE-695 registration-enabled Phase 2b clinical trial evaluating TAVO™ (tavokinogenetelseplasmid), a DNA plasmid-based interleukin-12 (IL-12), in combination with KEYTRUDA® (pembrolizumab) in rigorously defined anti-PD1 checkpoint resistant metastatic melanoma patients at the 10th World Congress of Melanoma which held on April 17, 2021.
Earlier on March 1, 2021, OncoSec Medical Incorporated published the research demonstrating the ability of its lead candidate TAVO™ (tavokinogenetelseplasmid), in the peer-reviewed medical journal Clinical Cancer Research, a journal of the American Association for Cancer Research.
CE Mark Certificationfor GenPulse™
OnApril 14, 2021, OncoSec Medical Incorporated received authorization to CE mark its proprietary next-generation go-to-market gene delivery device, GenPulse™.
The GenPulse is the gene electrotransfer device thatOncoSec plans to deploy commercially, both in the U.S. and the European Union (EU).
Approval of NJEDA NOL Program Tax Benefits
On February 23, 2021, OncoSec Medical Incorporated approved $2.5 million in tax credit certificates from the New Jersey Economic Development Authority (NJEDA).
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Conclusion
We have no recent news or development which could be linked with ONCS early loss and later after-hours recovery on Friday. the company recently appointed an Interim chief executive but we are unsure what effect it had on ONCS Friday’s stock performance.
