24/7 Market News Snapshot 04 October, 2024 – Oncolytics Biotech, Inc. Common Shares (NASDAQ:ONCY)

October 4, 2024

DENVER, Colo., 04 October, 2024 (247marketnews.com) – (NASDAQ:ONCY) are discussed in this article.
Oncolytics Biotech, Inc. is witnessing a significant surge in stock performance, with shares currently trading at $1.015, reflecting a notable increase of 9.08% from the previous close of $0.930. Trading activity has notably intensified, as evidenced by a volume of 854.94K shares, suggesting heightened investor interest. Analysts observe a breakout above the critical resistance level of $1.00, prompting speculation about further price appreciation. Investors are advised to keep an eye on volume trends and the support level around $0.95, which may indicate potential pullback opportunities. The stock’s positive technical indicators position Oncolytics as an appealing choice for those focused on growth potential.

The company is also making headway in clinical research, particularly following the promising results from the BRACELET-1 trial, which involves HR+/HER2- metastatic breast cancer patients. This trial, featuring over 100 participants, highlighted the efficacy of pelareorep in conjunction with paclitaxel, showcasing a significant progression-free survival (PFS) benefit. Interim results indicate that patients receiving pelareorep exhibited an overall survival rate exceeding 12 months compared to traditional chemotherapy regimens. These findings pave the way for a larger Phase 2 clinical trial anticipated to begin in the first half of 2025, focusing on about 180 patients who have not responded to existing treatments.

Wayne Pisano, Interim CEO and Board Chair of Oncolytics, expressed optimism regarding the company’s trajectory, asserting that the results from the BRACELET-1 trial create a solid groundwork for introducing pelareorep as a pioneering option for breast cancer therapy. Additionally, Oncolytics will continue to advance its efforts in treating gastrointestinal cancers, notably pancreatic cancer, with the support of strategic partnerships and funding. The company expects to share further updates and insights from ongoing studies, positioning itself as a transformative player in oncology.

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