OncoSec Medical Inc (NASDAQ:ONCS) Could Be Poised For A Breakout

OncoSec Medical Inc (NASDAQ:ONCS) looks like an interesting chart right now. The company is currently trading in and around $0.99, up around 10% on the $0.90 recorded at the end of August.If we see it break the one-dollar mark, there is a good chance that we will see some follow-through and the breakout should flag OncoSec up on a number of screeners. Exactly how far the breakout will take the company remains to be seen, of course, but with a couple of key developments set to hit press in the not-too-distant future, this one could be a nice allocation before it breaks one dollar or subsequent to the run.Here is what we are looking at.For those new to the company, it is a biotechnology stock that is working to bring a range of oncology therapies to market, with the lead asset right now being a drug called ImmunoPulse IL-12. The lead program for this drug is a metastatic melanoma program, for which IL-12 is currently under a phase II investigation, but there is also an ongoing phase II investigation in melanoma assessing the drug as part of a combination therapy and a phase II pilot study looking at its impact in patients with triple negative breast cancer. ONCS Daily ChartThe idea behind the treatment is pretty novel but early-stage data has shown that it could be a real winner in these hard to treat cancers.Treatment starts with DNA-based interleukin-12 (this is the IL-12 part of the therapy), a naturally occurring protein, being injected directly into the tumor. A physician then uses OncoSec's proprietary technology, the ImmunoPulse system, to supply a sequence of short-duration electrical pulses through a series of needles in and around the tumor in question. These electronic pulses translate to an increased permeability of the cancer cells (they basically open up little gaps in the cell membrane) and this permeability allows the IL-12 to enter the tumor microenvironment. Once in the cells, the drug gets to work activating an immune mediated inflammatory response which educates the immune system to the presence of the cancer cells and (for want of a better word) signals the cells that comprise the immune system (T cells, etc.) to attack.Immunotherapy is a hot topic in cancer right now but there are no treatments on the markets that incorporate this sort of porous inducing technology. As such, if OncoSec can get this one on shelves, it could be a real breakthrough in the space. Not only that, but (as many readers will already worked out) the ImmunoPulse technology can be used to improve the permeability of cancer cells to other active cancer killing drugs outside of the IL-12 that OncoSec is using.So what are we looking at as far as near term catalysts are concerned?Our primary focus in on the IL-12 program and, specifically, two elements of it – the monotherapy phase 1 in TNBC and the combination therapy phase II/III in melanoma. We got an update on the latter earlier this year by way of the analysis and things look positive, so we are now looking to trial end (slated for September next year) as hopefully hitting press as supportive of the efficacy implied by the interim readout.As far as phase 1 is concerned, this was supposed to complete in June but – as yet – we've not had any real update as to how things are progressing. Near term, then, we are expecting some degree of insight to hit press and, when it does, if it implies safety and efficacy, it's going to drive a strong upside run in OncoSec.As ever, at this end of the space, keep an eye on cash. In its most recent conference call, management suggested on hand would last through to the first quarter of next year, meaning a near-term raise is likely.We will be updating our subscribers as soon as we know more. For the latest updates on ONCS, sign up below!Image courtesy of Mikael Hvidtfeldt Christensen via FlickrDisclosure: We have no position in ONCS and have not been compensated for this article.