OncoSec Raises $7.5M In PIPE

San Diego-based OncoSec Medical said Tuesday that it has raised $7.5M in a registered direct offering, with un-named, institutional investors. The publicly traded company, which trades on the NASDAQ as ONCS, develops cancer immunotherapy products. OncoSec said it sold 2,142,860 shares of its common stock at a price of $3.50 per share to those investors, plus warrants for 1,071,430 shares of common stock at $4.50 per share for the next 5.5 years. The company said the new funds will go towards general corporate purposes, including clinical trial expenses and research and development expenses.