Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) announced that it has received notification from OTC Markets Group Inc. of its qualification for trading in the United States on the OTCQX® Best Market (“OTCQX”).

In addition, the Company has received notice from the Nasdaq OMX Group (“Nasdaq”) stating that, in accordance with Nasdaq listing rules, the Company’s shares will be delisted from the Nasdaq Capital Market, effective from the opening of trading on November 5th, 2015, for not maintaining the minimum $1.00 per share required for continued listing under Listing Rule 5550(a)(2).

Oncolytics expects to begin trading on the OTCQX under the symbol “ONCY” on November 5th, 2015. Investors will be able to find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

The Company’s shares continue to trade on the Toronto Stock Exchange (“TSX”) under the symbol “ONC” and are in full compliance with TSX listing requirements. The Company’s listing on the TSX is completely independent of, and will not be affected by, the status of its OTCQX quotation and its Nasdaq delisting. (Original Source)

Shares of Oncolytics Biotech closed yesterday at $0.455. ONCY has a 1-year high of $1.40 and a 1-year low of $0.40. The stock’s 50-day moving average is $0.49 and its 200-day moving average is $0.59.

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.