Oncolytics Biotech, Inc. (USA) (OTCMKTS:ONCYF) is an interesting player in the biotech corner of the OTC. ONCYF broke out to close out the week last week, blasting as much as 25% higher on Friday following a key hold of support at both the 50- and 200-day simple moving averages earlier in the week, perhaps showing an important indication of larger money at work on the bid. Reinforcing this narrative, the company hit the wires with a key new agreement.
Specifically, the company just announced that it has entered into a Regional Licensing Agreement with Adlai Nortye, a biopharmaceutical company focused on discovering and developing important new treatments for cancer and metabolic diseases. According to the release, under the terms of The Agreement, Adlai will have exclusive development and commercialization rights to REOLYSIN in China, Hong Kong, Macau, Singapore, South Korea and Taiwan.
Oncolytics Biotech, Inc. (USA) (OTCMKTS:ONCYF) trumpets itself as a biotechnology company focused on the development of oncolytic viruses as a potential therapeutic for use in a broad range of cancers.
The Company is conducting clinical studies using REOLYSIN , its proprietary formulation of the human reovirus, in some of the most prevalent forms of the disease including lung, colorectal, and pancreatic cancers.
Oncolytics’ clinical program includes a number of human trials at a variety of stages including a Phase III trial in head and neck cancers. The Company has advanced its product manufacturing and intellectual property initiatives in parallel with its clinical development program to support the development of a commercial product.
According to company materials, “Oncolytics is a biotechnology company developing REOLYSIN, an intravenously delivered immuno-oncolytic virus. The compound induces selective tumor lysis and promotes an inflamed tumor phenotype – turning ‘cold’ tumors ‘hot’ – through innate and adaptive immune responses to treat a variety of cancers. Oncolytics’ clinical development program emphasizes three pillars: chemotherapy combinations to trigger selective tumor lysis; immuno-therapy combinations to produce adaptive immune responses; immune modulator (IMiD) combinations to facilitate innate immune responses. Oncolytics is currently planning its first registration study in metastatic breast cancer, as well as studies in combination with checkpoint inhibitors and targeted and IMiD therapies in solid and hematological malignancies.”
Find out when $ONCYF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
“Adlai Nortye has a top-tier clinical, regulatory and commercial team with global experience, that will be able to gain significant regional exposure for REOLYSIN upon potential approval, following our phase 3 study in HR+/HER2- metastatic breast cancer,” said Dr. Matt Coffey, President and CEO of Oncolytics Biotech. “China is the fastest growing pharmaceutical market in the world, and we are delighted to be able to unlock value for Oncolytics and our shareholders through this regional partnership. We’re very happy this was able to happen as expediently as it did following our end-of-phase two meeting with the FDA. On the back of that meeting we also have escalated our efforts to find a suitable global or larger regional partner, in regions such as Europe or Japan, and look forward to providing updates on our progress in the first half of 2018.”
“With its impressive clinical data coupled with its unique and novel mechanism, REOLYSIN will be an instrumental component in furthering the development of our oncology pipeline,” said Carsten Lu, CEO of Adlai Nortye. “It immediately makes Adlai Nortye a late stage biotechnology company and REOLYSIN itself becomes our lead product. Given its potential in multiple oncological indications and its ability to be used in combination with multiple chemotherapies and immunotherapies, REOLYSIN will help to broaden future therapies made available by Adlai Nortye and advance us towards commercialization.”
Recent action has seen 35% added to share values of the listing over the past month of action. The situation may be worth watching. ONCYF is a stock whose past is littered with sudden rips. Moreover, the name has benefitted from a jump in recent trading volume to the tune of approaching 310% above the average volume levels in play in this stock over the longer term.
Earning a current market cap value of $71.9M, ONCYF has a significant war chest ($14M) of cash on the books, which stands against virtually no total current liabilities. The company is pre-revenue at this point. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $ONCYF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ONCYF, either long or short, and we have not been compensated for this article.