- Oncorus shares have been in steady decline since nearly doubling in value less than six months after the company's October 2020 IPO.
- Current trading price of $13 is slightly under the $15 IPO price, but the biotech has just entered the clinic with its first viral oncolytic therapy, ONCR-177.
- The therapy uses the herpes simplex virus to gain entry to tumor cells, where it unleashes five different immunomodulatory payloads.
- The heavily engineered therapy has numerous questions to answer in the clinic. In preclinical mouse models, the safety and potency profile of ONCR-177 looked strong.
- Markets including melanoma, breast and colorectal cancer are in play for Oncorus, and longer term, a synthetics platform will target NSCLC and SCLC. Given its opportunity and technology, a market cap <$350m looks too low for Oncorus, in my view.
For further details see:
Oncorus: Shares Look Cheap As First Oncolytic Viral Therapy Enters Clinic