OncoSec downgraded to Neutral from Buy at BTIG

BTIG analyst Kaveri Pohlman downgraded OncoSec to Neutral from Buy without a price target. The updated Phase 2 Keynote-695 study results may put the entire platform at risk as melanoma, even PD1-failed melanoma, seems the best case for an improved immunotherapy, Pohlman tells investors in a research note. The updated results of an overall response rate of 18.8% suggest four of 47 patients in the second half of the trial responded, which is "very different from the interim data," says the analyst. Pohlman believes FDA approval "seems a stretch" and uptake is "hard to imagine" following the results.