Vista Partners announced that it updated coverage on OncoSec Medical Inc (OTCMKTS:ONCS) a biopharmaceutical company formulating intratumoral cancer immunotherapies. The research firm maintains its 12-month price target of $1.20 per share.
Ross Silver who is the Principal Analyst at Vista said that there seems to be increasing anticipation to know when and if immunotherapy can convert into the standard of care for cure of certain types of cancer. With initial success, the studies can always be extended to treat other forms of cancers. On April 29, 2015, the U.S. FDA gave a verdict on Amgen’s dual-acting cancer vaccine and viral therapy, T-Vec with a one-sided 22-1 committee approval.
After T-Vec’s success and with a growing trend in immunotherapy, there is an inclination towards the company. As per the data produced by OncoSec to date, the estimated market value for Melanoma therapeutics is expected to cross $3.6 billion by 2020.
Mr. Silver further added that OncoSec entered into a clinical partnership with the UCSF in November, to assess the efficacy, safety and tolerability of the combination of KEYTRUDA® , Merck’s anti-PD-1, and ONCS’s ImmunoPulse in metastatic melanoma. As per the company, the recent findings indicates that people who are PD-L1 positive and shows increased tumor-infiltrating lymphocytes are more likely to react to anti-PD-1 and PD-L1 mAbs compared to people who are PD-L1 negative.
The therapies leading to PD-L1 positivity and TIL generation will play a vital role in expanding the clinical efficiency of these agents. Patients are expected to be registered within the next sixty days and trial enrollment is set to be concluded within 12 months.
In last trading session, the stock price of OncoSec Medical Inc (OTCMKTS:ONCS) gained more than 13% to close the trading session at $0.306. The decline came at a share volume of 2.38 million compared to average share volume of 952,695.