ONCY - Oncolytics rises premarket after Q3 2021 earnings beat breast cancer data

Shares of Oncolytics Biotech (NASDAQ:ONCY) are up 8% in premarket trading after the company beat Q3 earnings estimates and released new data on a key breast cancer candidate. Phase 1 biomarker data for pelareorep, its candidate for early breast cancer, indicated that changes in peripheral blood T cell populations may be a predictive biomarker. Also, adding Tecentriq (atezolizumab) improved pelareorep's ability to generate and expand new anti-viral and anti-tumor T cell clones. The company added that HR+/HER2- are the breast cancer subtypes it will examine in a future registrational study. Oncolytics' net loss narrowed ~28% in the quarter to ~C$4.9M (~$3.9M) (-C$0.09 basic and diluted share). R&D expenses fell 15% to ~C$3.3M (~$2.6M). Oncolytics recently began dosing in a phase 1/2 trial of pelareorep in combination with Tecentriq for various types of cancer.

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Oncolytics rises premarket after Q3 2021 earnings beat, breast cancer data