PENNINGTON, N.J. and SAN DIEGO, Jan. 21, 2021 /PRNewswire/ -- OncoSec Medical Incorporated (NASDAQ:ONCS) (the "Company" or "OncoSec"), a late-stage biotechnology company focused on designing, developing and commercializing innovative therapies and proprietary medical approaches to stimulate and to guide an anti-tumor immune response for the treatment of cancer today announced the pricing of an underwritten public offering of 7,711,284 shares of its common stock at a price of $5.45 per share, with expected gross proceeds to OncoSec of approximately $42.0 million. The offering is expected to close on or about January 25, 2021, subject to customary closing conditions.
BTIG, LLC is acting as sole book-running manager for the offering. A.G.P./Alliance Global Partners and ThinkEquity, a division of Fordham Financial Management, Inc. are acting as lead managers for the offering. Maxim Group LLC and Dawson James Securities, Inc. are acting as co-managers for the offering.
OncoSec intends to use the net proceeds from this offering for (i) clinical, regulatory, manufacturing and, if and when approved, potential commercial activities of its product candidates; (ii) clinical development of our product candidates; (iii) research and development activities; (iv) potential acquisitions and in-licensing; and (v) other general corporate purposes.
OncoSec has filed a preliminary prospectus supplement and accompanying base prospectus to its effective shelf registration statement on Form S-3 (File No. 333-233447), and the related registration statement on Form S-3 (File No. 333-252281), filed under Rule 462(b) of the Securities Act of 1933, as amended, with the U.S. Securities and Exchange Commission ("SEC") for the public offering of its common stock. Copies of the final preliminary prospectus supplement and the accompanying base prospectus relating to these securities may also be obtained, when available, by contacting BTIG, LLC 65 East 55th Street, New York, NY, 10022, or by telephone at (212) 593-7555 or by e-mail at [email protected].
The offering of these securities is being made under an effective shelf registration statement on file with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About TAVO™
OncoSec's gene therapy technology combines TAVO™ (tavokinogene telseplasmid), a DNA plasmid-based interleukin-12 ("IL-12"), with an intra-tumoral electroporation gene delivery platform to achieve endogenous IL-12 production in the tumor microenvironment that enables the immune system to target and attack tumors throughout the body. TAVO has demonstrated a local and systemic anti-tumor response in several clinical trials, including the pivotal Phase 2b trial KEYNOTE-695 for metastatic melanoma and the KEYNOTE-890 Phase 2 trial in triple negative breast cancer ("TNBC"). TAVO has received both Orphan Drug and Fast-Track Designation by the U.S. Food & Drug Administration for the treatment of metastatic melanoma.
TAVO™ is a trademark of OncoSec Medical Incorporated.
SOURCE OncoSec Medical Incorporated
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