Why OncoSec Medical Shares Are Soaring Today

OncoSec Medical Inc ONCS shares are trading higher Monday after the company announced it's seeking withdrawal of its registration statement.

What Happened: OncoSec Medical has submitted a request to the SEC to withdraw its registration statement that it filed on March 28. 

The March filing detailed an anticipated offering of more than 11 million shares and over 11 million warrants. 

"The Company is seeking withdrawal of the Registration Statement because it opted not to pursue the offering contemplated thereby," the company said in the new filing. 

OncoSec confirmed that no securities were sold pursuant to the previously announced offering. 

OncoSec is a biotechnology company focused on developing intratumoral immunotherapies to stimulate the body's immune system to target and attack cancer. 

From Last Week: OncoSec Shares Disappointing Results From Skin Cancer Combo Therapy Trial, Sets Stage For Neoadjuvant Setting Study

ONCS Price Action: OncoSec has a 52-week high of $25.74 and a 52-week low of 73 cents.

The stock was up 48.1% at $1.67 at time of publication, according to Benzinga Pro.

Photo: Konstantin Kolosov from Pixabay.