Oncolytics Biotech (ONCY) Hits New 52-week High, What's The Buzz?

(RTTNews) - Shares of Oncolytics Biotech Inc. (ONCY) jumped more than 50% to touch a 52-week high of $2.91 in intraday trading on Thursday, before closing at $2.82.

Oncolytics is a clinical-stage biotechnology company whose lead product candidate is Pelareorep, an intravenously delivered immuno-oncolytic virus for the treatment of solid tumors and hematological malignancies.

A phase Ib window of opportunity study assessing Pelareorep with or without Roche's Tecentriq, dubbed AWARE-1, is ongoing. The study is designed to enroll 38 patients into five cohorts.

Last month, the Company presented preliminary AWARE-1 data demonstrating viral replication and promotion of inflammation following systemic administration of Pelareorep when combined with Tecentriq.

The interim data from the AWARE-1 breast cancer study is due this quarter.

Oncolytics also has a couple of catalysts to watch out for in the coming year, and some of which are as follows…

-- Enrollment in the AWARE-1 breast cancer study is expected to be completed in the first quarter of 2020. -- A phase II study of Pelareorep in combination with paclitaxel and avelumab for the treatment of hormone-receptor positive, human epidermal growth factor 2-negative (HR+ / HER2-) metastatic breast cancer, dubbed BRACELET-1, is expected to be initiated next quarter (Q1, 2020). -- The final data from the AWARE-1 trial is anticipated in the second quarter of 2020.

ONCY closed Thursday's trading at $2.82, up 54.10%. In after-hours, the stock gained another 4.26% to $2.94.