This led to a 50% gain the the stock
Feb 8 (Reuters) - Oncolytics Biotech Inc said a mid-stage trial of its experimental lung cancer drug showed that 95 percent of the patients experienced a reduction in the size of their tumors.
The drug, Reolysin, was used intravenously in combination with chemotherapy drugs carboplatin and paclitaxel. It was tested on patients suffering from metastatic or recurrent squamous cell carcinoma of the lung.
Squamous cell carcinomas account for about a fourth of all lung cancers, the company said in a statement.
"Based on these findings we intend to continue to look at Reolysin as a treatment for cancers of the lung and cancers that metastasize to the lung," Chief Executive Brad Thompson said.
The results further suggest that Reolysin may have potential use in pre-surgical settings, the company said.
Shares of the Calgary-based company, which has a market value of C$279 million, closed at C$3.57 on Thursday on the Toronto Stock Exchange.
