SAN DIEGO, Jan. 31, 2018 /PRNewswire/ -- OncoSec
Medical Incorporated (NASDAQ: ONCS), a biotechnology company
focused on designing, developing and commercializing innovative
therapies and proprietary medical approaches to stimulate and guide
an anti-tumor immune response for the treatment of cancer, today
announced that it intends to offer and sell, subject to market
conditions, shares of its common stock in an underwritten public
offering. All of the shares to be sold in the offering will be
offered by OncoSec. In addition, OncoSec intends to grant the
underwriters a 30-day option to purchase up to an additional 15% of
the shares of its common stock offered in the public offering.
There can be no assurance as to whether or when the offering
may be completed, or as to the actual size or terms of the
offering.
Piper Jaffray & Co. is acting
as lead book-running manager for the offering. Cantor
Fitzgerald & Co. is also acting as a book runner.
OncoSec intends to use the net proceeds from this offering
primarily for the Phase 2 PISCES/KEYNOTE-695 trial in melanoma, for
other clinical and research and development activities, and for
working capital and general corporate purposes.
The offering is being made pursuant to a shelf registration
statement on Form S-3 that was filed with the Securities Exchange
Commission (SEC) on August 9, 2016
and declared effective by the SEC on August
25, 2016. The offering will be made only by means of a
prospectus and a prospectus supplement that form a part of the
registration statement. A preliminary prospectus supplement for the
offering will be filed with the SEC and will be available on the
SEC's website located at http://www.sec.gov. Copies of
the preliminary prospectus supplement and the accompanying
prospectus relating to these securities may also be obtained, when
available, by contacting Piper
Jaffray & Co., Attention: Prospectus Department, 800
Nicollet Mall, J12S03, Minneapolis,
MN 55402, by telephone at (800) 747-3924, or by email at
prospectus@pjc.com, or from Cantor Fitzgerald & Co., Attention:
Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by email at
prospectus@cantor.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About OncoSec Medical Incorporated
OncoSec is a biotechnology company developing DNA-based
intratumoral immunotherapies with an investigational technology,
ImmunoPulse®, for the treatment of cancer. ImmunoPulse
is designed to enhance the local delivery and uptake of DNA-based
immune-targeting agents, such as plasmid encoded IL-12
(tavokinogene telseplasmid or "tavo"). In Phase 1 and 2 clinical
trials, ImmunoPulse® IL-12 has demonstrated a
favorable safety profile, evidence of anti-tumor activity in the
treatment of various solid tumors, and the potential to reach
beyond the site of local treatment to initiate a systemic immune
response. OncoSec's lead program, ImmunoPulse IL-12, is currently
in clinical development for metastatic melanoma and triple-negative
breast cancer. The program's current focus is on the significant
unmet medical need in patients with melanoma who are refractory or
have relapsed on anti-PD-1 therapies. In addition to tavo, the
Company is also identifying and developing new immune-targeting
agents for use with the ImmunoPulse platform.
Forward-Looking Statements
Some of the statements included in this press release may be
forward-looking statements that involve a number of risks and
uncertainties. For those statements, we claim the protection of the
safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. The factors that could
cause our actual results to differ materially include: statements
regarding the proposed public offering and the intended use of
proceeds from the proposed offering; the status, progress and
results of our clinical programs; our ability to obtain regulatory
approvals for, and the level of market opportunity for our product
candidates; our business plans, strategies and objectives,
including plans to pursue collaboration, licensing or other similar
arrangements or transactions; expectations regarding our liquidity
and performance, including expense levels, sources of capital and
ability to maintain operations as a going concern; the competitive
landscape of our industry; and general market, economic and
political conditions; and other risk factors identified from time
to time in our reports filed with the Securities and Exchange
Commission. Any forward-looking statements set forth in this press
release speak only as of the date of this press release. We do not
intend to update any of these forward-looking statements to reflect
events or circumstances that occur after the date hereof.
Contact
Investor Relations:
Stern Investor Relations
Will O'Connor
Phone: (212) 362-1200
will@sternir.com
Media Relations:
Stern Strategy Group
Brian Hyland or Ashley
Duvall
Phone: (908) 276-4344
OncoSecPR@sternstrategy.com
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SOURCE OncoSec Medical Incorporated