By Chris Wack

 

OncoSec Medical Inc. shares were up 25% to $3.48 after the company said it has entered into a collaboration and supply agreement with Merck & Co. to evaluate the combination of OncoSec's interleukin-12 Tavo with Merck's anti-cancer immunotherapy Keytruda in a global clinical trial.

Volume for the stock was 66.3 million shares at 12:15 p.m. ET, compared to its 65-day average volume of 228,000 shares. The stock has 39 million shares outstanding, with a public float of 16 million shares.

OncoSec said the planned Phase 3 trial would evaluate the overall survival of patients treated with Tavo and Keytruda versus standard of care in late-stage patients with metastatic melanoma who are refractory to immune checkpoint therapy.

Tavo has received fast-track designation from the U.S. Food and Drug Administration as a potentially first-in-class, intratumoral anti-cancer gene therapy that expresses IL-12 for the treatment of metastatic melanoma, following progression on Keytruda or Opdivo.

The new trial is intended to support accelerated approval by the U.S. FDA and/or serve as a pivotal study to support a full licensure, OncoSec said.

Under the terms of the agreement, each party will be responsible for its own internal costs, with OncoSec covering third-party costs.

The study intends to enroll 400 patients and is planned to be conducted in the U.S., Canada, the European Union and Australia.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

July 07, 2021 12:36 ET (16:36 GMT)

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