SAN DIEGO, Feb. 1, 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 the pricing of an underwritten public offering of
13,333,334 shares of its common stock at a price of $1.50 per share, with expected gross
proceeds of approximately $20
million, before deducting underwriting discounts and
commissions and estimated offering expenses paid by OncoSec. In
addition, OncoSec has granted the underwriters a 30-day option to
purchase up to an additional 2,000,000 shares of common
stock on the same terms and conditions. The offering is
expected to close on February 5,
2018, subject to customary closing conditions.
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 preliminary prospectus supplement for the
offering is available on the SEC's website located
at http://www.sec.gov. Copies of the final 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 public offering and the intended use of proceeds from
the 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