OncoSec Medical Inc (NASDAQ:ONCS), a company developing DNA-based intratumoral cancer immunotherapies, today announced the Company consolidated its three previous offices into one new headquarters and research facility, developed by Alexandria Real Estate Equities, Inc., in Sorrento Mesa, San Diego. As a result of the Company’s growth over the past year, OncoSec moved into a new office that houses over 50 employees and all of the Company’s discovery research, clinical, and administrative activities under one roof.
“This is an exciting time for OncoSec as we join the Sorrento Mesa community and find a home in San Diego, a city that is on the cutting edge of the life science and biotech industries,” said Punit Dhillon, President and CEO of OncoSec. “This move allows for greater efficiencies and interactions among our dedicated teams. Our new facility enhances our development capabilities and provides OncoSec with a base of operations that matches the magnitude of our ambitions.”
“We are proud of the robust biotech industry and its incredible impact in California. It’s encouraging to see another biotech company join and further strengthen the San Diego area, bringing jobs and economic vitality to the region,” said Panorea Avdis, Director of the California Governor’s Office of Business and Economic Development. “Not only are biotechs like OncoSec enhancing California’s economy, they also play a greater role in advancing innovative technologies to provide better care and treatment for patients everywhere.”
“OncoSec’s stunning new headquarters was a result of a truly collaborative effort between the Company and Alexandria. We are thrilled to welcome them to our innovative tenant community,” said Daniel Ryan, Executive Vice President, Regional Market Director (San Diego) and Strategic Operations of Alexandria Real Estate Equities, Inc. “The new facility provides OncoSec with a sustainable and environmentally friendly space that accommodates growth and enhances their R&D operations. We look forward to continuing to serve OncoSec’s facility needs and support its efforts developing targeted cancer therapies.”
The new facility, located at 5820 Nancy Ridge Drive, was built with environmental and green features in mind to reduce the Company’s carbon footprint. The 34,000 square foot building features recycled materials, drought-tolerant vegetation, and a recycled water irrigation system, which will lower the water consumption impact and create an environment prepared to thrive in Southern California’s current drought conditions.
OncoSec’s research facility also integrates approximately 15,000 square feet of laboratory space with state-of-the-art equipment required for Discovery Research activities. The design approach incorporates laboratory benches, specialized rooms, and equipment strategically positioned to maximize workflow, provide sufficient ambulatory space, and minimize potential disruption to research. (Original Source)
Shares of OncoSec Medical are trading at $2.52, up $0.15 or 6.33%. ONCS has a 1-year high of $8.40 and a 1-year low of $0.22. The stock’s 50-day moving average is $3.27 and its 200-day moving average is $5.17.
On the ratings front, Maxim Group analyst Jason Kolbert reiterated a Buy rating on ONCS, with a price target of $17, in a report issued on September 28. The current price target represents a potential upside of 585.5% from where the stock is currently trading. According to TipRanks.com, Kolbert has a total average return of -15.7%, a 28.9% success rate, and is ranked #3638 out of 3645 analysts.
OncoSec Medical Inc is a biotechnology company focused on designing, developing and commercializing gene therapies, therapeutics and proprietary medical approaches to stimulate and guide an anti-tumor immune response for the treatment of cancer.