The Oncolytics Biotech Inc. (ONCY) idea is coming from one of our top ‘tipsters’ the Big Wig – whose two previous ideas, Allarity (ALLR) which traded from $0.70 to $2.10 and Pharmather (PHRFF) which traded from $0.04 to a recent high of $0.40 and made both us and some of our subscribers smile.*
ONCY’s most important product in development is an oncolytic virus called Pelareorep. This reovirus is designed to infect and kill permissive tumor cells. Beyond that, it is intended that the cancer cell, once infected, will release inflammatory cytokines that clue the immune system into the presence of something that should be taken care of.
Interim results from GOBLET Cohort 4, which investigates pela and atezolizumab in relapsed anal carcinoma showed a 33% objective response rate, including one patient with a complete response that lasted more than 15 months.
From most recent conference call:
We have expanded this cohort to Stage 2 in which an additional 18 patients will be enrolled. If the efficacy signal in this cohort persists, we will engage in discussions with our scientific advisory board and key opinion leaders to optimize the development of pela in this indication.
While anal carcinoma is not as large a commercial opportunity as breast or pancreatic cancer, achieving regulatory approval in this indication would serve as an important validation of pela’s potential in gastrointestinal cancers and could greatly benefit patients with a very high unmet medical need.
In addition, GOBLET Cohort 5, which is funded by a $5 million grant from the Pancreatic Cancer Action Network, or PanCAN is currently enrolling newly diagnosed metastatic pancreatic cancer patients. This cohort is evaluating pela combined with modified FOLFIRINOX with or without atezolizumab.
As of March 31, 2025, we reported cash and cash equivalents of $15.3 million, providing runway through key value-driving milestones and through the third quarter of 2025. Net cash used in operating activities for the quarter were $6.5 million compared to $7.5 million in the same period last year. The decrease reflects lower net operating expenditures, partially offset by changes in noncash working capital.
Following the end of our quarter, we were pleased to announce a $20 million share purchase agreement with Alumni Capital. This agreement provides the Company with access to capital solely at our discretion, helping us extend our financial runway.
*Past performance is no guarantee or even clue to future performance.
Forward-looking statements
This press release contains forward-looking statements, within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended and forward-looking information under applicable Canadian securities laws (such forward-looking statements and forward-looking information are collectively referred to herein as “forward-looking statements”). Forward-looking statements contained in this press release include statements regarding Oncolytics’ belief as to the potential, mechanism of action and benefits of pelareorep as a cancer therapeutic; its upcoming milestones; its belief that we will establish our position as the only platform immunotherapy in gastrointestinal tumors; its plans for a potential registration-enabling pivotal study in 1L mPDAC; the anticipated potential timing of commencement of start-up activities and enrollment in a study; the focus of its discussions with the FDA in respect of the study; the anticipated trial design; its plan to delist from the Toronto Stock Exchange; its plans with respect to shareholder communications; and its plan to continue actively pursuing strategic partnerships; its goals, strategies and objectives; its belief in the clinical promise of pelareorep in mPDAC and other gastrointestinal cancers; financial projections and the sufficiency of capital to reach critical milestones and pursue strategic opportunities and its need for near-term dilutive financing. In any forward-looking statement in which Oncolytics expresses an expectation or belief as to future results, such expectations or beliefs are expressed in good faith and are believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will be achieved. These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those anticipated. These risks include, but are not limited to, regulatory outcomes, trial execution, financial resources, access to capital markets, and market dynamics. Please refer to Oncolytics’ public filings with securities regulators in the United States and Canada for more information. The Company assumes no obligation to update forward-looking statements, except as required by law.
Company Contact
Jon Patton
Director of IR & Communication
jpatton@oncolytics.ca
Investor Relations for Oncolytics
Mike Moyer
LifeSci Advisors
+1-617-308-4306
mmoyer@lifesciadvisors.com
