Might OncoSec Medical, Inc. (OTCMKTS:ONCS) Reach $1 Per Share
While OncoSec Medical, Inc. (OTCMKTS:ONCS)’s stock was slowly sliding down the charts after the good upward run it had in the end of December, things began to get a little more heated recently and ONCS made a few decent jumps in price.
This has brought the company stock half way towards a $1 price after it was hovering around $0.50 for quite a while. The reason for the upward run appears to be a mention on a Techsonian article alongside Terra Tech Corp. (OTCMKTS:TRTC), Endocan Corp. (OTCMKTS:ENDO) and Dynasty Limousine, Inc. (OTCMKTS:CYBK), however, looking at the chart to the right not everyone had the same fate as ONCS.
Yesterday, ONCS climbed a good 23%, to close at $0.06959 on the second highest volume in its trading history. We saw some 14.3 million shares change their owners, which managed to generate a dollar volume of a whopping $9.3 million.
Even though the company is still in development of their cancer treatment, their fundamentals seem solid for the time being. Their latest financial report, covering the period ended October 31, 2013 contains the following numbers.
- cash: $15.1 million
- current assets: $15.8 million
- total assets: $17 million
- total liabilities: $1.8 million
- revenues: $0
- net loss: $2 million
The company has a substantial amount of cash, which should prove enough to support them for quite some time, considering that the total net loss since inception in February, 2008 is almost equal to the current available funds, at $15.4 million.
The low liabilities are also a good sign and ONCS is one of the development stage medical companies in most stable financial state. Still, the market cap of $118 million leaves room for corrections, depending on the news so you should be careful.
The latest press release that ONCS made is from yesterday and it announced that the company’s President and CEO, Mr. Punit Dhillon will present an overview of the company at the 24th Annual Wall Street Analyst Forum Institutional Investor Conference on March 3.
If the movements of the stock remains stable and the overview is to the liking of investors, ONCS may pretty well go above $1 per share quickly. Still, that doesn’t mean you should skip doing your due diligence before making an investment decision.
