Company Update (NASDAQ:ONCY): Oncolytics Biotech, Inc. (USA) Presents at UK Immuno-oncology Meeting


Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) announced that Dr. Matt Coffey, Chief Operating Officer, made a presentation titled “REOLYSIN®   and Immune  Therapy: Rationale for Combination Therapy” at the Royal Society of Medicine’s Immuno-oncology: Using the Body’s Own Weapons  conference, held in London, UK. The presentation included data from a single arm clinical study examining the use of REOLYSIN® in combination  with gemcitabine in patients with advanced pancreatic  cancer (REO 017), PD-1 and PD-L1 up regulation data from a single arm clinical study  examining the use of REOLYSIN® in patients with primary glioblastomas or brain  metastases (REO 013b), as well as preclinical data.

Highlights of new data presented include:

  •  Clinical evidence that REOLYSIN® treatment results in immunological changes to both the tumor cells and the tumor microenvironment that is conducive to novel immune                             targeting interventions; and
  • Updated results from the REO 017 study, in which pancreatic cancer patients received combination therapy with REOLYSIN® and gemcitabine demonstrated a median overall survival (OS) of 10.2 months, and one- and two-year survival rates of 45% and 24%, respectively.

“There is a growing body of evidence suggesting that treatment with REOLYSIN® may enhance long term survival, through selective killing of tumor cells that in turn creates immunological recognition of the tumor,” said Dr. Matt Coffey, Chief Operating Officer of Oncolytics Biotech. “We believe this may ultimately translate into improved overall survival for patients.”

REO 017 is a U.S. Phase II single-arm clinical trial using intravenous administration of REOLYSIN® in combination with gemcitabine (Gemzar®) in chemotherapy-naïve patients with advanced or metastatic pancreatic cancer. The trial enrolled 33 patients using a one sample, two-stage design. The study completed enrollment inOctober 2012.

REO 013b (brain) is a U.K. open-label, non-randomized, single-center study of REOLYSIN® given intravenously to patients prior to planned surgery for recurrent high grade primary or metastatic brain tumours in advance of their scheduled operations to remove brain tumours.

A copy of the presentation will be available on the Oncolytics website at: Source)

Shares of Oncolytics closed yesterday at $0.65 . ONCY has a 1-year high of $1.69 and a 1-year low of $0.40. The stock’s 50-day moving average is $0.80 and it’s 200-day moving average is $0.63.

On the ratings front, Oncolytics has been the subject of a number of recent research reports. In a report issued on March 18, Needham analyst Chad Messer reiterated a Buy rating on ONCY, with a price target of $1.50, which implies an upside of 130.8% from current levels. Separately, on March 17, Canaccord Genuity’s Neil Maruoka reiterated a Buy rating on the stock .

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Chad Messer and Neil Maruoka have a total average return of -0.9% and 15.9% respectively. Messer has a success rate of 35.3% and is ranked #2885 out of 3574 analysts, while Maruoka has a success rate of 75.0% and is ranked #804.

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.

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