Oncolytics Biotech Inc. (ONCY)

[onco_investor]

Versant initiates Oncolytics with buy...Target C$4.25

https://research.tdwaterhouse.ca/research/public/Markets/NewsArticle/1314-SGE60R0JK-1

Jan 28 (Reuters) - Versant Partners initiated coverage of Canadian drugmaker Oncolytics Biotech Inc <ONCY.O> <ONC.TO> with a "buy" rating on the prospects for its cancer therapy, which were supported by positive mid-stage trial data.

Last October, Oncolytics reached an agreement with the U.S. Food and Drug Administration (FDA) on the design of a late-stage trial for reolysin to treat patients with head and neck cancers.

The brokerage said Oncolytics has a "clear critical path to approval now established with SPA-endorsed Phase III head & neck trial."

The therapeutic cancer therapy is poised to enter phase III in the first half of 2010, Versant said in a note.

The brokerage expects the pivotal head & neck cancer testing to conclude by the second half of 2013, and the FDA to approve the drug by the second half of 2014.

However, Eli Lilly and Co's <LLY.N> colon cancer drug Erbitux -- an approved alternative -- could dampen reolysin's market potential, it said.

Shares of the Calgary, Canada-based company were trading up about 5 percent at C$2.38 Thursday on the Toronto Stock Exchange. (Reporting by Juhi Arora in Bangalore; Editing by Maju Samuel)

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From DJ Newswire


Oncolytics Started At Buy, $4.25 Target By Versant >ONCY

Dow Jones Newswires (212-416-2400)
01-28-10 0749ET
Copyright (c) 2010 Dow Jones & Company, Inc.

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Versant Partners ... from their website regarding their Biotech analyst Douglas Loe

http://www.versantpartners.com/en/team.html#

Douglas Loe, Ph.D
Biotechnology & Health Care

Doug is a consistently topped ranked healthcare and biotechnology analyst. He has covered Canadian biotech since 2000, initially as part of the research team at Yorkton Securities (now Macquarie Capital Markets), and then with Versant starting August 2002. Doug holds a MBA from Queen’s University and a Ph.D. in biochemistry from the University of Guelph, working in the area of cancer chemotherapy and multidrug resistance, followed by post-doctoral training at the Queen’s University Cancer Research Institute. Prior to commencing his career in financial analysis, Doug worked as a consultant to Molecular Mining Corporation and MDS Inc. During his scientific career, he published 24 abstracts and 17 peer-reviewed manuscripts and review articles related to P-glycoprotein and MRP-mediated multidrug resistance.

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