OncoSec Medical Inc.'s (OTCQB: ONCS) share volume was flat Oct. 13, with 1.4 million shares changing hands, compared to its 30-day average volume of 1.6 million shares.
The San Diego-based bio-tech company released its latest fiscal report Oct. 10 and it growing losses were offset by its growing cash reserves.
Latest Annual Report
Here's a summary from OncoSec's release:
For the fiscal year ended July 31, 2014, OncoSec Medical reported a net loss of $12.0 million, or $0.06 per share, compared to a net loss of $7.2 million, or $0.07 per share, for the same period last year.
The increase in net loss attributable to common stockholders for the year ended July 31, 2014, compared with the same period in 2013, resulted primarily from (i) an increase in salary related expenses (inclusive of stock-based compensation) due to increased headcount as we continue to grow our company in support of our corporate goals and (ii) an increase in outside services costs (sponsored research, clinical development consulting, and corporate development/communications consulting) as we continue to expand our research and development operations and corporate infrastructure.
There were no revenues for fiscal year ended Jul. 31, 2014 or Jul. 31, 2013.
Research and development expenses were $5.8 million for the fiscal year ended July 31, 2014, compared to $3.2 million for the same period in 2013. General and administrative expenses were $6.2 million for the fiscal year ended Jul. 31, 2014, compared to $3.9 million for the same period in 2013.
Growing Cash Reserves
At Jul. 31, 2014, we had $37.9 million in cash and cash equivalents, as compared to $5.0 million of cash and cash equivalents at Jul. 31, 2013. OncoSec said it expects these funds to be sufficient to allow it to continue operating its business for at least the next 12 months.
On Oct. 13, the share price of ONCS closed at 42 cents, unchanged from previous day's close.
Find out what could be the best investor's move when it comes to ONCS by getting the complete report here or by cutting and pasting the following link in your Web browser:
Cellceutix Corp. Releases Details on Phase-2 Trial of New Cancer-Fighting Drug
Cellceutix Corp. (OTCQB: CTIX) enjoyed strong stock volume Oct. 13, with 437,008 shares changing hands, higher than its 30-day average volume of 402,075 shares.
The solid showing comes the same day the Beverly, Mass.-based pharmaceutical company announced that the University of Texas MD Anderson Cancer Center has been selected as a clinical site for Cellceutix's Phase 2 trial of Brilacidin-OM as a novel treatment for oral mucositis.
According to Cellceutix, there are currently no drugs approved by the FDA for treating the approximately 500,000 people each year who have oral mucositis from head and neck cancers, a common and often debilitating condition affecting the mouth and pharynx as a side effect of certain cancer treatments, including chemotherapy and radiation therapy given.
Cellceutix had submitted its Investigational New Drug application to the FDA in September.
This is the fourth clinical trial program at Cellceutix.
CTIX's share price on closed at $2.93, down 7 cents from previous day's share price of $3.
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Titan Medical Inc.'s Stock Volume Flat
Titan Medical Inc.'s (OTCQX: TITXF) stock volume was flat Oct. 13, with 165,039 shares changing hands, a few shares higher than its 30-day average volume of 164,240 shares.
Developing 2 Robotic Products
There is not much information about the Toronto-based surgical robotic device maker, because it is basically in its developmental stage.
However, it is working on its Single Port Orifice Robotic Technology, SPORT(TM) Surgical System, that it says is comprised of a surgeon-controlled robotic platform that includes a 3D vision system and interactive instruments for performing MIS procedures.
This includes a workstation that provides the surgeon with an interface to the robotic platform for controlling the interactive instruments and providing a 3D endoscopic view of inside a patient's body during MIS procedures.
The SPORT(TM) Surgical System is being designed to expand robotic surgery into both simple and complex areas of surgical specialties and procedures that are currently under-serviced. It is also being designed to allow surgeons to perform procedures within small- to medium-size surgical spaces, such as general surgery and cholecystectomy.
How long and at what cost it will take to fully develop this product and bring it to market remains to be seen.
On Oct. 13, TITXF's share value closed at $2.07, up 2 cents from its closing price of $2.05 the previous day.
Find out what could be the best investor's move when it comes to TITXF by getting the complete report here or by cutting and pasting the following link in your Web browser:
Medical Marijuana Inc.'s Stock Value Flat
On Oct.3, Medical Marijuana Inc.'s (OTCPINK: MJNA) share price closed at 11 cents, unchanged from its closing price of the previous day,
The San Diego, medical marijuana company's volume was low, with 2.8 million shares changing hands, substantially less than its 30-day average volume of 3.6 million.
The company has not made any news lately, yet its share value, along with many other marijuana stocks has been on a downward trend for months. In Medical Marijuana's case, its shares have lost almost half of their value since June.
Some industry observers say this is due in part to the fact that the marijuana mecca that was supposed to be born from the wholesale legalization of cannabis has yet to materialize. On the contrary, in some states the push for the legalization of weed has actually stiffened opposition.
As a result, the initial investor enthusiasm for marijuana stocks has soured mightily
Find out what could be the best investor's move when it comes to PSID by getting the complete report here or by cutting and pasting the following link in your Web browser:
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