Monday, November 10, 2014 12:09:30 PM
Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) is making a highly explosive move up on massive volume after the stock hit a recent low of $.40. The big move comes after years of downward drift that started in 2011 at $7 per share.
Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics. Oncolytics’ clinical program includes a variety of later-stage, randomized human trials in various indications using REOLYSINœ, its proprietary formulation of the human reovirus.
Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) announced back in September overall and KRAS-mutated patient data from a two-arm randomized phase 2 study of carboplatin, paclitaxel plus REOLYSINœ (test arm) versus carboplatin and paclitaxel alone (control arm) in the first line treatment of patients with recurrent or metastatic pancreatic cancer (NCI-8601). The trial is sponsored by the U.S. National Cancer Institute (NCI) through a clinical trials agreement between the Cancer Therapy Evaluation Program, Division of Cancer Treatment and Diagnosis and Oncolytics. Oncolytics provided clinical supplies of REOLYSINœ for the study and paid for the immune and genetic testing of the patients.
While ONCY reported disappointing top-line data missing the primary endpoint in its Phase II study, the data suggests that REOLYSIN is effective in patients with an activated Ras pathway.
Patients were screened for KRAS status in the study, and among the 60 patients who had it, 73% had mutations in the KRAS gene. The company said that median progression free survival in the test arm in these patients was 5.72 months, versus 4.11 months in the control arm, resulting in a 39% improvement.
Oncolytics Biotech is a biotechnology company focused on the development of oncolytic viruses as potential therapeutics for use in a broad range of cancers. The Company is conducting clinical studies using REOLYSIN®, its proprietary formulation of the human reovirus, in some of the most prevalent forms of the disease including lung, colorectal and pancreatic cancers. Oncolytics’ clinical program includes a number of human trials at a variety of stages including a Phase III trial in head and neck cancers. The Company has advanced its product manufacturing and intellectual property initiatives in parallel with its clinical development program to support development of a commercial product.
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On October 24 ONCY announced that it has entered into an “at-the-market” (ATM) equity distribution agreement with Canaccord Genuity Inc. acting as sole agent. Under the terms of the distribution agreement, the Company may, from time to time, sell shares of its common stock having an aggregate offering value of up to $20 million through Canaccord Genuity Inc. The Company will determine, at its sole discretion, the timing and number of shares to be sold under this ATM facility.
“Entering into this agreement further improves our financial flexibility by providing us with another option when accessing capital,” said Dr. Brad Thompson, President and CEO of Oncolytics.
Conclusion: ONCY is making a highly explosive move up after the stock hit a recent low of $0.40 per share. While the Company recently announced disappointing top-line data missing the primary endpoint in its Phase II study many investors see it as a positive as the data suggests REOLYSIN is effective in patients with an activated Ras pathway.
Currently trading at a $70 million market valuation ONCY looks to be under heavy accumulation here, investors see the stock has underpriced with all previous bad news long since priced in and only the possibility of more good news on REOLYSIN. ONCY deserves to be on investors watch lists here and might just provide a spectacular trade opportunity in the coming week and months ahead!
Recent ONCY News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/19/2024 11:01:30 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/06/2024 04:46:58 PM
- Sernova Corp. Announces Appointment of New Chief Executive Officer • GlobeNewswire Inc. • 08/12/2024 11:45:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/02/2024 09:11:26 PM
- Form SUPPL - Voluntary Supplemental Material by Foreign Issuers [Section 11(a)] • Edgar (US Regulatory) • 08/02/2024 09:08:23 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/02/2024 12:40:34 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/02/2024 04:15:09 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/01/2024 08:54:04 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/01/2024 08:03:42 PM
- Form F-X - Appointment of Agent for Service of Process and Undertaking • Edgar (US Regulatory) • 07/25/2024 09:22:38 PM
- Form F-10 - Registration Statement for Securities of certain Canadian Issuers. • Edgar (US Regulatory) • 07/25/2024 08:48:54 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/24/2024 05:34:55 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/20/2024 04:04:42 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/24/2024 05:47:53 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/16/2024 03:00:15 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/15/2024 11:06:37 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/09/2024 08:37:10 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/09/2024 08:36:25 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/09/2024 04:11:18 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/08/2024 05:43:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/07/2024 09:06:03 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/05/2024 06:08:24 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/04/2024 05:37:31 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/28/2024 06:09:09 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/14/2024 01:30:16 PM
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