Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) announced that a series of oral and poster presentations are being made by the Company’s research collaborators at the 9th International Conference on Oncolytic Virus Therapeutics being held from June 13th to 16th, 2015 inBoston MA.
“Our preclinical program continues to identify new potential therapeutic combinations as well as advance our understanding of how REOLYSIN® works,” said Dr. Brad Thompson, President and CEO of Oncolytics. “This work is an important part of the ongoing development of our proprietary formulation of the human reovirus.”
Dr. Richard Vile is making an oral presentation regarding previously disclosed findings around augmenting tumor-specific natural killer (NK) responses and specifically attenuating tumor-specific immunosuppression. These data also suggest that the combination of PD-1 inhibition therapy with reovirus oncolytic/immunotherapy represents a readily translatable method to enhance the therapeutic efficacy.
The first abstract/poster titled “Targeting peripheral and lymph node resistant CLL with combination reovirus therapy,” was authored by Melcher, et al. The authors studied chronic lymphocytic leukemia (“CLL”) and the problems associated with eradicating minimal residual disease and drug resistance. They concluded that the combination of reovirus and ABT-263 could increase direct and immune-mediated killing of peripheral disease and that reovirus in combination with Fludarabine may be useful in targeting drug-resistant lymph node disease.
The second abstract/poster titled “Oncolysis by reovirus as an immune priming mechanism with VSV-cDNA immunological boosting treats large established tumors,” was authored by Melcher, et al. The authors looked at the treatment of established B16 melanoma tumors in a mouse model. They concluded that the local killing of cancer cells by one virus primed the immune system and, by using tumor antigens expressed from a second virus, it was possible to generate potent immunological responses that led to the rejection of well established tumors.
The third abstract/poster titled “Monocyte carriage and delivery of reovirus-antibody complexes for melanoma oncolysis,” was authored by Melcher, et al. The authors studied preexisting antiviral immunity and found evidence that there is an alternative mechanism by which systemically administered reovirus may gain access to tumors, even in the presence of neutralizing antibodies. (Original Source)
Shares of Oncolytics Biotech closed last Friday at $0.5992 . 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 $0.70 and its 200-day moving average is $0.66.
On the ratings front, Oncolytics Biotech has been the subject of a number of recent research reports. In a report issued on June 8, Canaccord Genuity analyst Neil Maruoka maintained a Buy rating on ONCY, with a price target of $2.50, which represents a potential upside of 317.2% from where the stock is currently trading. Separately, on March 18, Needham’s Chad Messer reiterated a Buy rating on the stock and has a price target of $1.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Neil Maruoka and Chad Messer have a total average return of 15.9% and 2.6% respectively. Maruoka has a success rate of 77.4% and is ranked #543 out of 3624 analysts, while Messer has a success rate of 44.0% and is ranked #1596.
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.