Oncolytics Biotech Inc (NASDAQ: ONCY) was a big gainer in Tuesday’s trading session, and closed the day with gains of 34.33%. This came a few days after the company announced acceptance of an abstract for a potential new biomarker data from the randomized study NCI 8601.
The abstract will be presented in 2020 at the 2020 gastrointestinal cancers symposium. The abstract is for a biomarker for Reolysin sensitivity in pancreatic adenocarcinoma. It was authored by Dr. Anne Noonam, and Dr. Tanios Bekaii-Saab. Dr. Anne works at the department of medical oncology, Ohio State University Wexner Medical Center, Richard Solove Research Institute and James Cancer Hospital. Dr. Tanios is an associate consultant in the division of hematology, department of internal medicine at the Mayo Clinic, in Arizona.
The company is currently in the process of making Pelareorep, an immune-oncolytic virus that is delivered intravenously. It is being developed for treating solid tumors as well as hematological malignancies.
On top of that, the company had on the 9th of December announced that, a poster presentation had been done and it touched on pre-clinical and clinical results of using Pelareorep and proteasome. According to the company’s Chief Medical Officer, the findings show that, Pelareorep when combined with Carfilzomib infects myeloma cells, and as a result, offers a strong scientific basis with regards to immune cell changes. Dr. Rita added that, the combination promoted the spread of killer T cells in patients of the company’s phase 1b study.
From its price action in Tuesday’s session, the stock traded between $1.37 and $1.94 before closing the day at $1.80. Volumes in the day stood at 7.26 million.
About Oncolytics Biotech Inc
Oncolytics Biotech Inc is a biopharma company that discovers and develops cancer treatments. Its lead product is Pelareorep, a treatment for solid tumors. It is headquartered in Calgary, Canada.