#Canada #Calgary #Cancer Immunotherapy #Oncolytics Biotech #pelareorep

Oncolytics Biotech Reports First Quarter Financial Highlights and Clinical Advance

Oncolytics Biotech® Inc., a prominent clinical-stage company, recently shared its financial performance and insights from Q1 2025. The focus is on their leading immunotherapy, pelareorep, which has shown promising efficacy in treating challenging cancer types. Wayne Pisano, Chairman of the Board and Interim CEO, expressed optimism about the ongoing development of pelareorep, signaling a significant stride in cancer treatment.

Financial Overview

As of March 31, 2025, Oncolytics revealed a cash reserve of CAD 15.3 million, which it forecasts will sustain operations well into Q3 2025. Although the company faced a net loss of CAD 6.7 million during this quarter, it marks a slight improvement compared to the CAD 6.9 million loss in Q1 2024. The basic loss per share was CAD 0.08, slightly better than CAD 0.09 in the previous year.

Research and development expenses decreased to CAD 4.1 million from CAD 5.7 million, indicating more efficient spending as the company focuses on its key projects. General administrative costs remained stable at CAD 3.0 million, reflecting diligent management of overheads amidst ongoing development challenges.

Clinical Milestones and Strategic Developments

Oncolytics highlighted several significant milestones during the quarter:

• - Pelareorep has delivered positive outcomes in various studies for breast cancer and, notably, in a randomized phase 2 trial for pancreatic cancer. This includes notable data expected to be presented at the ASCO Annual Meeting regarding pelareorep's capacity to elicit immune responses, aiming to enhance outcomes in immunotherapy.
• - The results from the GOBLET study showcased encouraging metrics; in Cohort 4, combining pelareorep with atezolizumab yielded a 33% objective response rate among patients with advanced anal carcinoma, some benefiting from prolonged remission exceeding 15 months.
• - Upcoming expansions in trial cohorts foreshadow more comprehensive studies that may pave the way toward pivotal registration trials in the future.

The company hosted an event featuring esteemed opinion leaders, drawing attention to the immune treatment landscape, particularly concerning breast and pancreatic cancers. The discussions highlighted pelareorep's potential to stimulate the immune system for enhanced tumor responses.

Further bolstering its growth strategy, Oncolytics secured a US$20 million share purchase agreement with Alumni Capital LP, aimed at providing crucial funding for ongoing and future clinical programs, thereby reinforcing its ambition to reach substantive clinical milestones.

Future Projections

Looking ahead, Oncolytics Biotech is poised for several key presentations and data releases:

• - Q2 2025 will bring translational data from the GOBLET study, focusing on the intersection of pelareorep and established chemotherapies in treating pancreatic cancer.
• - Mid-2026 may see initial efficacy data from the ongoing pivotal trials assessing pelareorep’s combination potential with modified FOLFIRINOX.

Oncolytics is dedicated to advancing its innovative therapies, and with the expected momentum from its clinical program and enhanced funding, the prospects for determining pelareorep's role in cancer treatment appear strong.

In summary, Oncolytics Biotech's latest findings and strategic directions not only showcase financial discipline but also underline a promising future for novel cancer immunotherapy methods, potentially transforming treatment paradigms for patients battling difficult cancers.