Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) announced that enrollment has been completed in a randomized Phase II study of REOLYSIN® in patients with previously treated advanced or metastatic non-small cell lung cancer (“NSCLC”) (IND 211). The trial is being sponsored and conducted by the NCIC Clinical Trials Group (NCIC CTG) at Queen’s University in Kingston,Ontario.

“Non-small cell lung cancer continues to present a significant health risk for patients,” said Dr. Brad Thompson, President and CEO of Oncolytics. “We would like to thank our colleagues at the NCIC CTG for completing enrolment in this study.”

The study is an open-label, randomized, non-blinded, Phase II clinical study of REOLYSIN® as a treatment for advanced or metastatic non-small cell lung cancer patients who have received previous chemotherapy. A total of 166 patients were enrolled. Patients with squamous cell histology were randomized to receive either REOLYSIN®given in combination with docetaxel (test arm) or docetaxel alone (control arm), while patients with non-squamous cell histology were randomized to receive either REOLYSIN® given in combination with pemetrexed (test arm) or pemetrexed alone (control arm).

The primary objective of the trial is to evaluate the effect of REOLYSIN® in combination with standard salvage chemotherapy on the progression free survival of patients with advanced or metastatic non-small cell lung cancer. The secondary objectives are to determine the tolerability and toxicity of the therapeutic combination; to investigate additional potential measures of efficacy, including progression rates at three months, objective response rate and overall survival; and to explore potential molecular factors predictive of response.

Although accrual is complete, patient follow-up will continue until planned analyses have been conducted. (Original Source)

Shares of Oncolytics Biotech closed yesterday at $0.499 . ONCY has a 1-year high of $1.42 and a 1-year low of $0.40. The stock’s 50-day moving average is $0.58 and its 200-day moving average is $0.67.

On the ratings front, Canaccord Genuity analyst Neil Maruoka maintained a Buy rating on ONCY, with a price target of $2.50, in a report issued on June 8. The current price target implies an upside of 400.0% from current levels. According to TipRanks.com, Maruoka has a total average return of -2.5%, a 35.9% success rate, and is ranked #2906 out of 3730 analysts.

Oncolytics Biotech Inc is a development stage biopharmaceutical company. It is engaged in the discovery and development of pharmaceutical products for the treatment of cancer.