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OncoSec Medical Inc (OTCMKTS:ONCS) Fails To Recover Ground

After a small run up on the charts in December, the share price of OncoSec Medical Inc (OTCMKTS:ONCS) began to decline once again as 2015 came. The drop in January was sharp, but then ONCS managed to post some gains in the first week of February and hovered close to the $0.375 mark.

The financial performance

There weren’t any major press releases made by OncoSec, but on Friday market witnessed how the company performed in the quarter that ended January 31, 2015. OncoSec reported cash of $30.69 million, current assets of $31.32 million and total assets of $32.71 million. The total liabilities stood at $1.5 million and net loss at $4.61 million. It posted zero revenue in the quarter.

The analysis

The market knows that the numbers are pretty impressive for a biotech firm listed on the OTC platform. The cash reserves that OncoSec has are significant, and the total liabilities are not that massive compared to cash reserves. The lack of revenues is also justified, considering OncoSec is in the development stage. The only thing that has doesn’t appear to be supportive is the surge in net loss. Not only has it been surging year-over-year, but it is rising quarter-over-quarter. The net loss for the quarter ended January 31, 2015 is almost 75% more than that for the same quarter in 2014.

The interest

The widening of net loss might be the reason for which OncoSec made a significant percentile movement compared to its average movement, erasing more than 0.66% of its value in Friday’s session while over 1.22 million shares traded. OncoSec Medical Inc (OTCMKTS:ONCS) share started Friday’s trading session on a bad foot and declined as low as $0.31and continued with its weekly drop. There seems to be no end to decline, and therefore investors should take follow due diligence and evaluate the risks before pouring any money on the line.

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