It has been well known that OncoSec Medical Inc (OTCMKTS:ONCS) has been having quite a few rough financial days. It started the third quarter on February 1, 2015, with a net loss of $8.7 million, with zero revenue for the past six months. Added to this injury on March 12, 2015, the Onco Sec stock registered a new low of $0.311, going even further to 0.305. Finally, it seems that the company’s fortunes may be turning around. The investors found the new low prices as an opportunity and the company ended its day at $0.355, just 11% above the green.
OncoSec Medical Inc (OTCMKTS:ONCS) is a biopharmaceutical company, which specializes in developing effective treatment for cancer. The lead program of the company is in phase 2 of its clinical trial and could increase the company’s value. The good thing about the company’s financial state is that even though it has lost substantial amounts and generated no revenues, it still has enough cash reserves to keep going for another year or so.
Additionally, the company is one, which trades in penny stock, so buyers rarely worry about losing too much to the company. In addition to this, the CEO of the company announced that he would be attending a webinar and Q&A session on March 30, 2015. This is aimed at inviting more investment to the company and update investors on the company’s plans and progress.
However, despite all of the cash reserves, the company has also reported significant increase in expenses, mostly in the R&D sector. The surge in R&D expenses can be seen as a sign that the company may be moving forward and would soon develop products that would help restore its cash reserves. Still the company has to try and control its expenditures on conferences, much of which may help the company progress, but would mostly be seen by investors as a waste of precious resources.