OncoSec Medical Inc (NASDAQ: ONCS) is off to an incredibly strong start to the trading session this morning, and for good reason. The company announced positive results from a recent clinical trial, leading to excitement among investors and sending the stock toward the top. Today, we’ll talk about the data that was released, how the market reacted to the news, and what we’ll be watching for with regard to ONCS ahead.
ONCS Flies On Clinical Data
As mentioned above, OncoSec Medical is having an incredibly strong start to the trading session this morning after reporting positive data surrounding a key clinical program. Early this morning, the company updated long-term follow-up data from its Phase 2 OMS I-102 combination study. The study was designed to assess ImmunoPulse® IL-12 in combination with pembrolizumab in patients that are unlikely to respond to anti-PD-1 therapy. In the press release, ONCS said that the updated data will be presented in an oral poster presentation by Dr. Alain Alagzi at the Society for Immunotherapy of Cancer Annual meeting in National Harbor, MD on November 10th.
The data that was released showed that the combination treatment resulted in a 57% progression-free survival rate at 15 months with 100% duration of response and median PFS not yet reached. Considering previously reported data with a best ORR of 50%, the updated data demonstrate that the combination of these therapies can prime a coordinated innate and adaptive immune response, strongly suggesting a synergistic relationship with anti-PD-1. In fact, in their press release, ONCS said that the data demonstrate that this combination approach has the potential to reshape the tumor microenvironment. In a statement, Dr. Alain Algazi, Lead Trial Investigator on the ONCS trial and Associate Professor at the Department of Medicine (Hematology/Oncology) at the University of California San Francisco Helen Diller Family Comprehensive Cancer Center, had the following to offer:
“Overall, the Phase 2 trial results, including progression free survival beyond two years in multiple patients, duration of response, best overall response rate, and tolerability of the combination, provide a strong and consistent theme across multiple endpoints, underscoring the promise of ImmunoPulse IL-12 plus pembrolizumab as a variable treatment option for patients diagnosed with metastatic melanoma.”
The above statement was followed up by Dan O’Connor, CEO at ONCS. Here’s what he had to offer:
“The robust PFS benefit and tolerability observed with ImmunoPulse IL-12 plus pembrolizumab is the first demonstrating efficacy in a predicted PD-1 non-responder population and shows that the combination represents a potentially important addition to the treatment landscape for metastatic melanoma patients who have progressed or are progressing on anti-PD-1 therapy.”
How The Stock Reacted To The News
As investors, we’ve come to expect that any time positive data is released surrounding a publicly-traded pharmaceutical company, we can expect to see gains in the value of the stock. In this particular case, that’s exactly what we’re seeing. At the moment, OncoSec is flying! Currently (10:09), ONCS is trading at $1.91 per share after a gain of $0.66 per share (52.80%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ONCS. In particular, we’re looking forward to the full data release in just a couple of days. We’re also looking forward to following the company through the ongoing work to bring this potentially disruptive treatment to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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