OncoSec Medical Inc (NASDAQ:ONCS), a company developing DNA-based intratumoral cancer immunotherapies, today announced Sharron Gargosky, PhD, has been appointed to Chief Clinical and Regulatory Officer, effective as of September 1, 2016. Dr. Gargosky previously served as OncoSec’s Head of Clinical Development and Operations, as a consultant, since February 2016. She now joins OncoSec’s management team to oversee the progress of innovative clinical research studies through all phases and to help define OncoSec’s overall clinical business strategy.
“Dr. Gargosky continues to be an effective and powerful force in advancing our clinical programs towards commercialization,” said Punit Dhillon, President and CEO of OncoSec. “Her keen understanding and strategic background in clinical operations and overall program development will significantly advance our melanoma development program and registration pathway for ImmunoPulse® IL-12 in combination with anti-PD-1 in patients with advanced melanoma. Dr. Gargosky will also help progress OncoSec’s overall development efforts to more broadly address anti-PD-1 resistant cancers. We’re thrilled to have her on board and contribute to the strength of OncoSec’s leadership team.”
Dr. Gargosky has over 20 years of experience in clinical development and operations in the field of pharmaceutical and biologic development having managed global programs from early research phase through the U.S. Food & Drug Administration (FDA) approval process. Prior to joining OncoSec, Dr. Gargosky was the Chief Technical and Operations Officer at Prima Biomed, Ltd., where she led the immuno-oncology program in ovarian and pancreatic cancer overseeing international manufacturing, regulatory approvals, and clinical execution. Prior to Prima Biomed, Dr. Gargosky served in positions of increasing clinical and scientific responsibility at biopharmaceutical companies including Pharmacia, Medicis, and Hyperion Therapeutics. In her career, she was involved in small molecule development attaining orphan drug approvals in rare diseases. Dr. Gargosky received her PhD from the University of Adelaide, Australia and completed her postdoctoral fellowship at Stanford University.
As an inducement to Dr. Gargosky entering into employment with OncoSec, the Compensation Committee of the Board of Directors of OncoSec approved the grant to Dr. Gargosky of an option to purchase up to 270,000 shares of OncoSec’s common stock at an exercise price equal to the fair market value of the stock on the September 1, 2016 grant date. The option will have a term of ten (10) years and will generally be forfeited if not exercised before the expiration of that term, or, if earlier, after the ninetieth (90th) day after termination of Dr. Gargosky’s employment. Twenty-five percent (25%) of the shares underlying the award vested on the grant date and the remaining seventy-five percent (75%) of the shares underlying the award shall vest in thirty-six (36) equal monthly installments thereafter. The option was granted outside of OncoSec’s 2011 Stock Incentive Plan, but it is subject to terms similar to those of non-qualified stock options granted under such plan. This description of the inducement option grant to Dr. Gargosky is in satisfaction of the disclosure requirements set forth in NASDAQ Listing Rule 5635(c)(4). (Original Source)
Shares of OncoSec Medical Inc closed last Friday at $1.7, up $1.70 or 1.7%. ONCS has a 1-year high of $6.94 and a 1-year low of $1.36. The stock’s 50-day moving average is $1.77 and its 200-day moving average is $1.91.
On the ratings front, OncoSec has been the subject of a number of recent research reports. In a report issued on July 21, Rodman & Renshaw analyst Ram Selvaraju initiated coverage with a Buy rating on ONCS and a price target of $6, which implies an upside of 252.9% from current levels. Separately, on June 6, Maxim Group’s Jason McCarthy reiterated a Buy rating on the stock and has a price target of $17.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ram Selvaraju and Jason McCarthy have a total average return of 0.2% and -1.4% respectively. Selvaraju has a success rate of 43% and is ranked #2345 out of 4147 analysts, while McCarthy has a success rate of 36% and is ranked #3318.
OncoSec Medical, Inc. designs, develops, and commercializes medical products for the treatment of cancer. It engages in the discovery and development of novel immunotherapeutic products to improve treatment options for patients and physicians, which intends to treat oncology indications.