OncoSec Medical Incorporated (NASDAQ:ONCS) Stock Is Moving in Breakout Zone: Now What?
OncoSec Medical Incorporated (NASDAQ:ONCS) gained 10% after announcing a collaboration and supply agreement with Merck to evaluate its DNA-plasmid interleukin-12 TAVO with Merck’s pembrolizumab (KEYTRUDA), anti-PD-1 therapy in Phase 3 clinical study, KEYNOTE.
The clinical study will assess the overall survival of individuals who will receive TAVO and KEYTRUDA combination compared to standard of care in patients with late-stage metastatic melanoma that are nonresponsive to immune checkpoint inhibitor. The FDA ranted TAVO Fast Track designation as a potential intratumoral anti-cancer therapy expressing interleukin-12 for metastatic melanoma treatment after progression on OPDIVO or KEYTRUDA.
KEYTRUDA will support expedited FDA approval and act as a pivotal study supporting full licensure.
As per the terms of the agreement, OncoSec will provide TAVO, and Merck will supply KEYTRUDA, and each company will meet its internal costs with OncoSec meeting third-party expenses. Eligible patients for the study should be at least in stage III unresectable metastatic melanoma and be refractory to previous checkpoint therapy. So in the coming days, ONCS is a stock to watch.
Market Reaction:
On Wednesday, ONCS stock soared 10.23% at $2.37 with more than 339k shares, compared to its average volume of 1.70 million shares. The stock has moved within a range of $2.1700 – 2.3950 after opening the trade at $2.21. Over the past 52-week, the stock has been trading within a range of $2.0800 – 8.1600.
