OncoSec slumps as skin cancer therapy trial fails

OncoSec Medical Incorporated

03/04/2023 17:48

(Updates)
    ** Shares of OncoSec Medical Inc  ONCS.O  down 50.4% at
$1.28 
    ** Stock will see its biggest daily pct decline on record,
if losses hold 
    ** Drug developer says review by an independent panel for
mid-stage study of its experimental therapy in combination with
Merck & Co Inc's  MRK.N  Keytruda to treat patients with skin
cancer did not meet main goal of overall response rate (ORR)
    ** ORR is the proportion of patients in a trial whose tumor
is destroyed or significantly reduced by a drug
    ** Company plans to discuss data from the study and draft
protocol for a randomized mid-stage trial at upcoming meeting
with FDA to potentially initiate the trial in H2 of 2023
    ** ONCS shares have lost ~24% YTD

 (Reporting by Khushi Mandowara and Raghav Mahobe in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))