SAN DIEGO, Feb. 6, 2018 /PRNewswire/ -- OncoSec
Medical Incorporated ("OncoSec") (NASDAQ: ONCS), a
biotechnology company focused on designing, developing and
commercializing innovative immunotherapies and proprietary medical
approaches to stimulate and guide an anti-tumor immune response for
the treatment of cancer, today announced the closing of its
previously announced underwritten public offering of 15,333,334
shares of its common stock, which includes the exercise in full by
the underwriters of their option to purchase 2,000,000 additional
shares, at the public offering price of $1.50 per share. The gross proceeds from the
offering, including the exercise of the option to purchase
additional shares, were approximately $23
million, before deducting underwriting discounts and
commissions and estimated offering expenses paid by OncoSec.
Piper Jaffray & Co. acted as
lead book-running manager for the offering. Cantor Fitzgerald
& Co. also acted as a book runner.
The proceeds of the offering are expected to be used 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 was 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 final 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 a
solicitation of an offer to buy these securities, 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: 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