Oncolytics Biotech Closes at $1
Oncolytics Biotech (ONC: TSXV) has been the best performing biotech deal on the TSX Venture thus far in 2017.
Oncolytics – 6 Month Chart
We wrote about this junior making waves in early March in a review titled Oncolytics Biotech rises after Canadian Cancer Trial Presentation Scheduled. Below is a short excerpt:
“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.”
Click here to read the entire story. Oncolytics’ stock has nearly doubled from the time of that write up last month.
Oncolytics rising in April Stock Challenge
Oncolytics continued its winning ways Wednesday, moving 28.21% higher to close at $1 per share. The junior biotech company traded over 1 million shares and has been one of the stocks driving the TSX Venture higher in recent sessions. The exchange closed in the green for the 5th consecutive day after gold hit a new high above $1,280. As most of our readers know, the TSX Venture exchange is largely comprised of mining-related stocks. The VanEck Vectors Junior Gold Miners (GDXJ) had another big day Wednesday, increasing 1.44% to close at $38.04 per share.
Oncolytics Announces Clinical Development Plan
On April 12th, Oncolytics Biotech® announced its initial registration pathway and clinical development plan for REOLYSIN®, its proprietary immuno-oncology viral agent.
The company reported,
“The Company’s clinical development plan has two main objectives. The primary objective is to obtain regulatory approval for REOLYSIN as quickly as possible and is based on the compelling metastatic breast cancer survival data recently presented at the American Academy of Cancer Research (AACR) Annual Meeting, in Washington, D.C. The second objective is to expand REOLYSIN into commercially valuable new treatment areas that include immunotherapy and immunomodulatory (IMiD) agents in collaboration with pharmaceutical partners.”
Click here to read the entire press release.
Three Pinnacle members select Oncolytics for April
Long-time member ‘avispa’ selected Oncolytics for April and saw his combined average return jump 17.54% Wednesday. Next up is ‘biobilly’ who put up a one day return of 14.11%. Finally we have another past Stock Challenge Champ ‘moondance249’ who finished the day with a 14.11% return. moondance249 is leading the entire field with a 35.70% combined average return thus far in April. Long-time member ‘funtime’ is nipping at his heels with a 33.93% return.
This is not the first time moondance249 has selected this Calgary-based biotech stock. On March 3rd, we wrote,
“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.”
Time will tell if April proves to be the month that Oncolytics crowns moondance249.