On Tuesday the stock price of OncoSec Medical Inc (OTCMKTS:ONCS) recorded a new 52-week low of $0.26. In the very next trading session, however the stock price bounced adding almost 14% to its value to close at $0.306. Here, it is important to see if the positive movement is a short-term technical pullback or the start of a prolonged recovery.
If the performance of ONCS stock since the start of 2015 is analyzed, Wednesday gains will be short-lived. It was the same movement recorded in yesterday’s trading session as the stock price of OncoSec declined more than 3% to close the trading session at $0.295. The decline came at a share volume of 630,618 compared to average share volume of 1.01 million. It is not for the first time, it has happened with the company. The stock has declined more than 35% in the year.
OncoSec is finding it tough to climb up on the charts. As per the latest financial report, the company reported cash of $30.7 million. The net loss stood at $4.6 million while revenue was zero. The total liabilities came at $1.5 million and total current assets were $31.3 million. The company states that cash reserves are enough to support operations for next one year.
In a press release issued this week, it listed the events where its expert team will participate in May. Also, Vista Partners LLC reiterated price target of $1.20 on the company’s stock. The stock price can get a boost if the company manages to release positive and promising results from its ongoing studies. It includes data from Head & Neck Cancer, Melanoma Cancer and also Triple Negative Breast Cancer clinical studies. They are moving forward with the Phase IIb combination trial to assess the safety, efficacy and tolerability of ImmunoPulse IL-12 used with KEYTRUDA.