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Why We Are Optimistic About Oncolix Inc (OTCMKTS:ONCX)

Why We Are Optimistic About Oncolix Inc (OTCMKTS:ONCX)
Written by
Jim Bloom
Published on
February 15, 2019
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Like most companies operating within the marijuana space, Oncolix Inc (OTCMKTS:ONCX) suffered a bear run during the period ended December 2018. The company’s share price which begun the year trading at $.04 per share closed the same period below the $.01 mark. Moreover, a further bear run rocked the company through the first month of 2019 leading the shares to below the $.005 mark. Throughout this period, there were minimal to no shares of the company being traded.Readers can review the above price action in the chart below: ONCX Daily ChartThe reversal int his trend has, however, just been witnessed.While no shares were traded throughout the company’s bearish run, there has been a spike in the number of shares traded during the February period. The month has brought with it significant activity in the company’s share turnover as over 300 million shares have been traded on specific days.Consequently, the share turnover has led to significant share price movements. The shares moved from around $.001 to highs of $.003, an over 200% surge. This is further seen in the chart below: ONCX Daily ChartThe above price and volume movement speaks generally to increased momentum. We thus, looked into the company’s financials and past information so as to establish the reason behind the above price movements. This piece provides a summary of our findings.

ONCX: A Background

Formed back in 2007, ONCX was headquartered back in Houston, Texas. Back then, it was known as Advanced Environmental Petroleum Producers, Inc (defines which sector the firm previously operated in). Following a strategic shift back in September 2017, however, the name changed to Oncolix Inc.The firm operates within the pharmaceutical industry, specifically as a biopharmaceutical company, specializes in the treatment of cancer across the United States. The firm’s energies are currently focused on the development of Prolanta, a drug meant to treat ovarian cancer. This drug is currently in Phase I of clinical trials.

Developments affecting ONCX

News affecting ONCX dates back months ago when the firm entered into two agreements, one which would see them treat different types of cancer and another which would see them treat osteosarcoma and other bone-based conditions.In both cases, the company was working towards the development of a new drug which was targeted towards these conditions. Furthermore, the drugs were already at or nearing the start of Phase I trial. This piece reviews in detail this information.

The ProlantaTM Effect

An announcement by Clinical Accelerator brought to light the advancements by ONCX in the development of Prolanta. According to the firm, the drug, which is meant to aid in the treatment of ovarian cancer, was successful in the pre-clinical trials. As a result, the firm was to begin clinical trials back in September 2018 for the drug.Trials were to be conducted within the United States and in sites A and B in Ukraine.Technically speaking, Prolanta is a prolactin receptor antagonist with a single amino acid mutation. This allows it to interfere with the binding process of two normal prolactin receptors (the binding is the cause of cancer and is generally resistant to chemotherapy).The firm is currently working on Phase I dosing issues so as to examine mainly the safety and tolerability of the drugs. Moreover, they will be examining three doses of the drug so as to formulate the right dosage for clients suffering from this condition.The success of this drug will mean a lot to ovarian cancer patients by alleviating the pain and problems associated with the disease. It will also see the company generate significant revenues associated with having developed a proprietary drug for the treatment of cancer.

Treatment of Osteosarcoma

Back in October, the firm announced that it has finalized agreements with IGL Pharma Inc for the treatment of osteosarcoma. This is a type of cancer is mainly seen among young people and leads to the development of immature bones, especially around the knee. It is a rare infection, seen in around 800 to 900 people and, despite having a 70% cure rate, can be fatal in cases of metastatic disease.The above agreement thus granted IGL the ability to use the drug for all disease indications, including bone cancers.Under the terms of the contract, in exchange to exclusive rights, IGL Pharma Inc would pay an undisclosed upfront amount followed by milestones and royalties on net revenues. This is especially important to IGL given that the drug has been successfully tested in the past and has received a go-ahead by the FDA for Phase I tests.The success of this agreement is therefore pegged on the success of the drug. However, with the company having signed an exclusivity agreement with ONCX, it is quite clear that they believe in the long-term success of the drug. This should thus, be an important factor for investors to consider.

Conclusion

The success of ONCX seems to be near given that their drugs are being adopted by different companies. The aforementioned share price action may, therefore, have been driven by positive news about one of the drugs. While this may not be the case, there is optimism from our end regarding the success of at least one of the drugs. As such, we remain bullish about the stock.We will be updating our subscribers as soon as we know more. For the latest updates on ONCX, sign up below!Disclosure: We have no position in ONCX and have not been compensated for this article.

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