OncoSec Medical Shares Rise 25% on Keytruda Deal With Merck
July 07 2021 - 12:50PM
Dow Jones News
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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