Oncolytics Biotech Inc Stock Price, News & Analysis

Oncolytics Biotech Inc. (NASDAQ: ONCY) has initiated an at-the-market (ATM) equity offering agreement with Canaccord Genuity LLC, allowing the company to issue common shares up to US$80 million at prevailing market prices. This strategic move aims to enhance financial flexibility, facilitating ongoing business operations and clinical trials, while strengthening negotiation positions for potential agreements. Additionally, a Prospectus Supplement has been filed with relevant securities commissions to govern the offering, which will only take place in the U.S. through NASDAQ.

Oncolytics Biotech reported a financial overview and operational highlights for 2020, revealing a robust cash position with approximately $50 million on hand. Clinical data for pelareorep demonstrated significant potential in enhancing the efficacy of checkpoint inhibitors, particularly for HR+/HER2- breast cancer patients, evidenced by AWARE-1 trial results showing tumor PD-L1 expression increased by 105-fold. The company also advanced its BRACELET-1 and IRENE studies and plans to report further data in 2021, underpinning its strategy to address unmet medical needs.

Oncolytics Biotech Inc. (NASDAQ: ONCY) will host a conference call on March 5, 2021, at 8:30 am ET, to discuss its fourth quarter and full year 2020 financial results and corporate updates. Investors can access the call via dial-in and webcast, with a replay available post-call. The company focuses on the development of pelareorep, an immuno-oncolytic virus targeted at treating various cancers. Oncolytics is preparing for a phase 3 registration study in metastatic breast cancer and exploring additional studies in combination with other therapies.

Oncolytics Biotech Inc. (NASDAQ: ONCY) announced promising results from a preclinical study showcasing the enhanced effectiveness of pelareorep in combination with CAR T cell therapy for solid tumors. Conducted in collaboration with the Mayo Clinic, the study demonstrated a survival rate of 100% in mice treated with CAR T cells and pelareorep boosts. This combination overcame major limitations faced by CAR T therapies in solid tumors, leading to potential broadened applications in cancer treatment. The findings were presented at the CAR-TCR Summit Europe 2021.

Oncolytics Biotech announced significant findings from the AWARE-1 study at the San Antonio Breast Cancer Symposium, showing that pelareorep substantially increases the CelTIL score and PD-L1 expression in patients with early-stage breast cancer. Seventy-two percent of patients experienced increased CelTIL, while PD-L1 expression rose over 105-fold, enhancing the potential for immunotherapy. The study's results suggest pelareorep can synergize with checkpoint inhibitors, potentially improving treatment outcomes and expanding patient eligibility for these therapies.

Oncolytics Biotech (NASDAQ: ONCY) reported positive results from the ReoGlio phase 1b trial, assessing the combination of pelareorep and GM-CSF with standard chemoradiotherapy for glioblastoma multiforme patients. This trial demonstrated promising efficacy signals and confirmed safety with a median progression-free survival of approximately 8 months. The results were presented at the 2020 Society of Neuro-Oncology Annual Meeting, showing a median PFS of 9.4 months at a higher pelareorep dose. Oncolytics aims to advance pelareorep across various cancer indications while acknowledging the contributions of key partners.

Oncolytics Biotech (NASDAQ: ONCY) announced the presentation of three abstracts at the virtual 2020 San Antonio Breast Cancer Symposium from December 8-11, 2020. The abstracts include studies on the oncolytic virus pelareorep combined with other therapies for breast cancer treatment. Notable studies are the window-of-opportunity study (REO-027, AWARE-1) and the Bracelet-1 trial assessing response rates with metastatic breast cancer treatments. Pelareorep is designed to induce tumor lysis and enhance immune responses, highlighting its role in ongoing cancer therapy developments.

Oncolytics Biotech (NASDAQ: ONCY) reported its Q3 2020 financial results, showing a net loss of $6.7 million, compared to $3.5 million in Q3 2019. The company held $26.7 million in cash and cash equivalents. Notable clinical advancements include positive AWARE-1 trial results demonstrating a 14-fold increase in CD8 T cells, with 70% of patients showing an increase in CelTIL. The company is also advancing trials for pelareorep in breast cancer and gastrointestinal cancers, with upcoming data releases expected in Q4 2020 and H1 2021.

Oncolytics Biotech (NASDAQ: ONCY) and SOLTI presented data from the AWARE-1 breast cancer study at the SITC 35th Annual Meeting. Findings revealed that 70% of cohort-1 patients experienced an increase in CelTIL, a measure linked to favorable outcomes, following treatment with pelareorep. The data underlines pelareorep's ability to generate anti-tumor T cell clones, which may enhance immune responses against breast cancer. Pelareorep demonstrated a 14-fold increase in CD8+ T cells, emphasizing its potential as an effective immunotherapy. The AWARE-1 study aims to confirm pelareorep's efficacy in early-stage breast cancer.