OncoSec Medical Down Premarket on $11.2 Million Share, Warrant Offering

Dow Jones

2023/02/02

By Rob Curran

Shares of biotech company OncoSec Medical Inc. plunged premarket after it arranged to sell $11.2 million in shares and warrants in a follow-on offering.

In a Securities and Exchange Commission filing, OncoSec said it planned to sell 6.2 million common shares and warrants that would represent a further 6.2 million shares, priced at $2.02 apiece.

The developer of immunotherapy treatments for cancer estimates it will raise $11.2 million from the offering, which it plans to use for general corporate purposes, including research and development and potential merger-and-acquisition deals.

Shares of OncoSec, which last raised $3.5 million in a November share offering, fell 28% to $1.54 premarket.

Write to Rob Curran at rob.curran@wsj.com

(END) Dow Jones Newswires

February 02, 2023 08:39 ET (13:39 GMT)

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