A San Diego-based clinical-stage biotech built on once discarded medical technology is showing promising results and will begin trading on the main NASDAQ market Friday.
OncoSec Medical is developing DNA-based cancer therapies, seeking to harness the power of the body’s immune system to recognize and attack cancer cells. Company co-founder Punit Dhillon secured the rights to a technology deemed ineffective to see if he could transform deserted clinical trials into innovative cancer care.
“Over the past year, our team has made significant headway to build a strong, cutting-edge, clinical stage biotech company. As we become a NASDAQ-listed company, we are now able to communicate our progress with a broader audience, raise the visibility of OncoSec’s capabilities, and generate more value for our shareholders,” said Dhillon, president and CEO of the startup.
“We are now in a better position to continue to advance our intratumoral immunotherapy technologies with the goal of one day benefiting cancer patients everywhere.”
Despite almost running out of capital in its first year in 2011, the company persevered and developed a propriety immunotherapy platform that has shown promising results in targeting and attacking cancer tumors.
The company’s stock was previously traded over the counter. In its latest earnings report, for the six months ended Jan. 31, OncoSec reported a net loss of $8.7 million, or $0.04 per share.
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