OncoSec Medical Files Petition for Chapter 7 Bankruptcy

marketwatch

2023/06/15

By Chris Wack

OncoSec Medical shares were down 55% at 19 cents after the company said in a filing to the Securities and Exchange Commission it was filing for chapter 7 bankruptcy.

The stock is down 99% in the past 12 months.

The company said its sole subsidiary, OncoSec Medical Australia, expects to liquidate and wind down operations under Australian law pursuant to a Creditors' Voluntary Liquidation.

OncoSec also said that directors Linda Shi, Robert Arch, Stephany Foster, Joon Kim, H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations, effective Wednesday, prior to the filing of the bankruptcy petition. Following these resignations, the company will have no members serving on its board of directors.

Arch also tendered his resignation as the company's president and chief executive. As a result, the company no longer has any current executive officers.

Write to Chris Wack at chris.wack@wsj.com

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Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations, effective Wednesday, prior to the filing of the bankruptcy petition. Following these resignations, the company will have no members serving on its board of directors.</p> <p>Arch also tendered his resignation as the company's president and chief executive. As a result, the company no longer has any current executive officers.</p><pre></pre> <p>Write to Chris Wack at chris.wack@wsj.com</p><pre></pre> </div> </div></body></html>","source":"mwatch_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>OncoSec Medical Files Petition for Chapter 7 Bankruptcy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOncoSec Medical Files Petition for Chapter 7 Bankruptcy\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2023-06-15 22:34</span>\n</p>\n</h4>\n</header>\n<article>\n<html><body><div itemprop=\"articleBody\" role=\"document\"> <div> <div> <div aria-hidden=\"true\"></div> </div> </div> <p>By Chris Wack</p><pre></pre> <p>OncoSec Medical shares were down 55% at 19 cents after the company said in a filing to the Securities and Exchange Commission it was filing for chapter 7 bankruptcy.</p> <p>The stock is down 99% in the past 12 months.</p> <div> <p>The company said its sole subsidiary, OncoSec Medical Australia, expects to liquidate and wind down operations under Australian law pursuant to a Creditors' Voluntary Liquidation.</p> <p>OncoSec also said that directors Linda Shi, Robert Arch, Stephany Foster, Joon Kim, H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations, effective Wednesday, prior to the filing of the bankruptcy petition. Following these resignations, the company will have no members serving on its board of directors.</p> <p>Arch also tendered his resignation as the company's president and chief executive. As a result, the company no longer has any current executive officers.</p><pre></pre> <p>Write to Chris Wack at chris.wack@wsj.com</p><pre></pre> </div> </div></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://www.marketwatch.com/story/oncosec-medical-files-petition-for-chapter-7-bankruptcy-cd21dafd?mod=newsviewer_click\">marketwatch</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://www.marketwatch.com/story/oncosec-medical-files-petition-for-chapter-7-bankruptcy-cd21dafd?mod=newsviewer_click","article_id":"2343721679","we_media_id":null,"thumbnails":["https://images.mktw.net/im-800990?size=1.777777777777778&width=220 220w"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2343721679","pubTimestamp":1686839640,"columns":[],"sourceInfo":{"source_id":"mwatch_stock","name":"Market Watch"},"weMediaInfo":null,"summary":"By Chris Wack OncoSec Medical shares were down 55% at 19 cents after the company said in a filing to the Securities and Exchange Commission it was filing for chapter 7 bankruptcy. 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