OncoSec Medical (
) said Friday that Patrick Cox, editor of Breakthrough Technology Alert and Technology Profits Confidential, thinks the company was "going to do well" with its new cancer drug.
Cox's comments were made in a recent interview with Streetwise Reports.
Cox, who also contributes to The Daily Reckoning, is a researcher, editor and contributor to various publications, who also
analyzes and speaks out on companies the he believes have potential for high returns to investors.
With regards to OncoSec, Cox said it is "an important company."
"It doesn't want to be thought of as a device company, but it has a patent on the use of electroporation for the delivery of drugs," Cox said.
"Using very small electrical charges, cell walls are opened up so that you can deliver drugs. OncoSec is focused on a specific cancer drug right now.
"I think it's going to do well...what the company needs to do is demonstrate efficacy, and I think it will do that. Then you're going to see not only interest in the drug it is testing but also the application of its device to a bunch of other drugs."
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OncoSec Medical is a biopharmaceutical company developing advanced-stage OMS ElectroOncology therapies to treat solid tumors and metastatic disease. The company said that treatment of various solid cancers using targeted anti-cancer agents has demonstrated selective destruction of cancerous cells while sparing healthy normal tissues during early and late stage clinical trials.
This week, the company issued a letter to its shareholders reviewing the key developments of the company so far in 2012.
In a financial update, OncoSec said it recently raised $7.75 million through a public offering to continue clinical development programs. The offering was underwritten by Rodman & Renshaw, with Roth Capital Partners acting as an advisor.
The company currently has over $6.5 million in cash reserves to fund operations, which it said should be sufficient to complete current studies.
OncoSec is executing its clinical development plan based on its OMS ElectroImmunotherapy platform for the treatment of rare and deadly skin cancers including metastatic melanoma, Merkel cell carcinoma and cutaneous T-cell lymphoma.
The company noted that it has initiated and enrolled several patients in a phase II study for the treatment of metastatic melanoma, called OMS-I100, and is expecting to report interim clinical data before year end.
The company has also initiated and enrolled several patients in a phase II study for the treatment of Merkel cell carcinoma, called OMS-I110, and expects to report interim clinical data before year end.
OncoSec said it is aiming to initiate and begin enrolling patients in a phase II study for the treatment of cutaneous T-cell lymphoma (CTCL), called OMS-I120, by year-end.
Since the acquisition of a clinical data set of over 400 patients, OncoSec said it has compiled, reviewed, and analyzed the data and presented preliminary results from a phase IV European head and neck cancer trial and phase I/II breast cancer trial.
The preliminary data sets from the completed phase III recurrent head and neck cancer studies carried out in the US are now being analyzed, and the company said it intends to present the data at the 5th International Head and Neck Cancer Conference taking place July 21-25.
On the corporate front, OncoSec said it is developing new applications of its OMS ElectroOncology for treating solid tumors and metastatic disease, with the goal of expanding market opportunities and establishing additional patents to maintain its dominance in these areas.
The company noted that its OMS ElectroImmunotherapy for the treatment of metastatic melanoma and Merkel cell carcinoma was featured in Xconomy, Medical Device & Diagnostic Industry, Manufacturing Chemist, and the San Diego Business Journal.
OncoSec also said that its OMS therapy was featured as a "revolutionary cancer treatment" for Merkel cell carcinoma by a local NBC News affiliate in Seattle, Washington.