OncoSec Medical, Inc. (OTC:ONCS) has been dropping since Monday. At this time one ONCS is worth $0.28 – more than 50% down from Friday’s close. The free fall seems to be the result from pump mails.
A number of message board posters have claimed they have received physical mail pumping ONCS since Saturday. The company hasn’t said anything about the situation this far, but it may be a good idea to address shareholders.[BANNER]
On Monday ONCS lost just 3.03%, but that was followed by a 20.31% drop on Tuesday and another 23.53% yesterday. At the same time, volume has been going up, reaching 1.5 million shares yesterday.
In the mean time ONCS issued two press releases. One about an article by the President and CEO, and the other about enrolling sites about Phase II clinical trials. The announcements didn’t prevent the price from plummeting.
At the time of this writing ONCS is trading at $0.285 (-26.92%). ONCS may need to take some steps to protect the interest of its shareholders.
