Oncolytics Biotech rises after Canadian Cancer Trial Presentation Scheduled3 min read
Oncolytics Biotech Inc. (ONC:TSXV) outperformed all other stocks in March’s Stock Challenge Friday.
Oncolytics Biotech rallies on Coming Presenting of Clinical Trial Data Evaluation
Oncolytics Biotech’s stock rallied 22% to $0.55 per share on nearly 1.5 million shares traded.
Yesterday morning, the Calgary-based company announced that the Canadian Cancer Trials Group will present clinical trial data evaluating the Oncolytics’ investigational immuno-oncology viral-agent, REOLYSIN®, during the American Academy of Cancer Research (AACR) Annual Meeting, April 1-5, in Washington, DC. Market participants rushed into the small-cap biotech company following the news.
After bottoming near the end of 2016, Oncolytics Biotech has been building momentum for months.
Oncolytics Biotech – 6 Month Chart
In recent days the company’s shares have gone parabolic, adding tens of millions to its market cap.
Oncolytics Biotech – 5 Day Chart
Oncolytics’ market saw 414 individual trades Friday, the most in over a month. More than $1 million worth of stock has been exchanged in the past two trading days.
moondance249 surging in March Stock Challenge
Pinnacle member ‘moondance249‘ selected Oncolytics Biotech for March’s Stock Challenge. The long-time member of more than eight years saw his combined average return jump 11.72% on the day.
The past Stock Challenge Champ moved into 2nd place overall with a 23.02% return at the close of trading Friday.
This month’s challenge has become one to lose for long-time member ‘screefer‘ whose return has ballooned to 230%. And that is despite his top performing stock VentriPoint Diagnostics selling off 21.74% on Friday. Screefer’s sector of interest is technology and he has been a member competing in Pinnacle’s Stock Challenge for just over two years. What a breakout.
VentriPoint is one of those stories that keep investors researching little-known juniors late into the night. After going under the radar for a long time, its shares exploded 590% on March 2nd.
VentriPoint closed at $0.10 on 9,500 shares traded Monday. On Tuesday it awoke to a brand new world. After releasing news, the company’s shares exploded to a high of $0.92 per share before finishing the day at $0.69 on 44.53 million shares traded. The dollar value of these trades equate to nearly $20 million.
Ventripoint’s historic news release involved the company gaining approval for the world’s first complete Heart Analysis System for 2D Ultrasound exams. Below is a short excerpt:
“Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Company”) (TSX VENTURE: VPT) announces that it has received a license from Health Canada for the new VMS-PLUS™ machine and the 4-chamber (4C) heart analysis system. This is an expansion of the VMS heart analysis product to include right atrium (RA), left atrium (LA) and left ventricle (LV) chambers of the heart. The VMS was already licensed in Canada for use for the right ventricle (RV). This expansion allows for the determination of volume and function for all four chambers of the heart using conventional 2D ultrasound, which could only be provided by MRI until now.”
Click here to read the entire press release.
For anyone to have a chance at the title and silver bullion, VentriPoint will have to sell-off.