OncoSec Medical Files Petition for Chapter 7 Bankruptcy

marketwatch2023-06-15

By Chris Wack

OncoSec Medical shares were down 55% at 19 cents after the company said in a filing to the Securities and Exchange Commission it was filing for chapter 7 bankruptcy.

The stock is down 99% in the past 12 months.

The company said its sole subsidiary, OncoSec Medical Australia, expects to liquidate and wind down operations under Australian law pursuant to a Creditors' Voluntary Liquidation.

OncoSec also said that directors Linda Shi, Robert Arch, Stephany Foster, Joon Kim, H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations, effective Wednesday, prior to the filing of the bankruptcy petition. Following these resignations, the company will have no members serving on its board of directors.

Arch also tendered his resignation as the company's president and chief executive. As a result, the company no longer has any current executive officers.

Write to Chris Wack at chris.wack@wsj.com

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2343721679?lang=en_US&edition=fundamental","thumbnail":"https://images.mktw.net/im-800990?size=1.777777777777778&width=220 220w","is_english":true,"pubTime":"2023-06-15 22:34","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2343721679","market":"us","top_or_hot":-1,"title":"OncoSec Medical Files Petition for Chapter 7 Bankruptcy","media":"marketwatch","content":"<html><body><div itemprop=\"articleBody\" role=\"document\"> <div> <div> <div aria-hidden=\"true\"></div> </div> </div> <p>By Chris Wack</p><pre></pre> <p>OncoSec Medical shares were down 55% at 19 cents after the company said in a filing to the Securities and Exchange Commission it was filing for chapter 7 bankruptcy.</p> <p>The stock is down 99% in the past 12 months.</p> <div> <p>The company said its sole subsidiary, OncoSec Medical Australia, expects to liquidate and wind down operations under Australian law pursuant to a Creditors' Voluntary Liquidation.</p> <p>OncoSec also said that directors Linda Shi, Robert Arch, Stephany Foster, Joon Kim, H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations, effective Wednesday, prior to the filing of the bankruptcy petition. Following these resignations, the company will have no members serving on its board of directors.</p> <p>Arch also tendered his resignation as the company's president and chief executive. As a result, the company no longer has any current executive officers.</p><pre></pre> <p>Write to Chris Wack at chris.wack@wsj.com</p><pre></pre> </div> </div></body></html>","source":"mwatch_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>OncoSec Medical Files Petition for Chapter 7 Bankruptcy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOncoSec Medical Files Petition for Chapter 7 Bankruptcy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-06-15 22:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/oncosec-medical-files-petition-for-chapter-7-bankruptcy-cd21dafd?mod=newsviewer_click><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Chris Wack OncoSec Medical shares were down 55% at 19 cents after the company said in a filing to the Securities and Exchange Commission it was filing for chapter 7 bankruptcy. The stock is down ...</p>\n\n<a href=\"https://www.marketwatch.com/story/oncosec-medical-files-petition-for-chapter-7-bankruptcy-cd21dafd?mod=newsviewer_click\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://www.marketwatch.com/story/oncosec-medical-files-petition-for-chapter-7-bankruptcy-cd21dafd?mod=newsviewer_click","article_id":"2343721679","we_media_id":null,"thumbnails":["https://images.mktw.net/im-800990?size=1.777777777777778&width=220 220w"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2343721679","pubTimestamp":1686839640,"columns":[],"sourceInfo":{"source_id":"mwatch_stock","name":"Market Watch"},"weMediaInfo":null,"summary":"By Chris Wack OncoSec Medical shares were down 55% at 19 cents after the company said in a filing to the Securities and Exchange Commission it was filing for chapter 7 bankruptcy. The stock is down 99% in the past 12 months.  The company said its sole subsidiary, OncoSec Medical Australia, expects to liquidate and wind down operations under Australian law pursuant to a Creditors' Voluntary Liquidation. OncoSec also said that directors Linda Shi, Robert Arch, Stephany Foster, Joon Kim, H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations, effective Wednesday, prior to the filing of the bankruptcy petition. Following these resignations, the company will have no members serving on its board of directors. Arch also tendered his resignation as the company's president and chief executive. As a result, the company no longer has any current executive officers. Write to Chris Wack at chris.wack@wsj.com","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技"},"translate_title":"OncoSec医疗申请第7章破产","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ONCS":1},"content_text":"By Chris Wack OncoSec Medical shares were down 55% at 19 cents after the company said in a filing to the Securities and Exchange Commission it was filing for chapter 7 bankruptcy. The stock is down 99% in the past 12 months.  The company said its sole subsidiary, OncoSec Medical Australia, expects to liquidate and wind down operations under Australian law pursuant to a Creditors' Voluntary Liquidation. OncoSec also said that directors Linda Shi, Robert Arch, Stephany Foster, Joon Kim, H. Kim Lyerly, Kevin Smith and Chao Zhou each tendered their resignations, effective Wednesday, prior to the filing of the bankruptcy petition. Following these resignations, the company will have no members serving on its board of directors. Arch also tendered his resignation as the company's president and chief executive. As a result, the company no longer has any current executive officers. Write to Chris Wack at chris.wack@wsj.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2343721679","isCrawlerRequest":true}