Gediminas Jasionis

Oncolytics Biotech, Inc. (NASDAQ:ONCY) Gets A Possitve Feedback

by Gediminas Jasionis April 9, 2010
Oncolytics Biotech, Inc. (NASDAQ:ONCY, ONCY message board) was picked up by a couple stock newsletters as they pointed out a scientific publication discussing synergistic effects of anti-cancer drugs.

Momentum traders and noted the company's announcement of research paper publishing. The PR didn't have material information in it, but was enough to put a positive spin on the share price for the day. The price has been attempting to push through the $3.6 level since last September and the current direction compliments yet another resistance approach.

oncolytics_logo.jpgDiscussing the synergistic effects of two drugs, the published scientific paper states that researchers witnessed an increase in cancer treatment effectiveness when Oncolytics' REOLYSIN was combined with VEGF(165) inhibitors. Such a research is important as a guidance to the development stage ONCY, but no engagement to the further utilization of the findings was made yet.

Oncolytics is conducting trials on the variation of their sole therapeutic REOLYSIN. The first phase III trials are still in the future. With over $32 million in the bank, the company has a strong capital position which, given the current expenditure rate, would allow to continue researches for another two years without raising a funding concern. Of course the start of phase III trials will mark an increase in their R&D pushing the company to raise more capital sooner.

Through varying applications REOLYSIN targets to treat different type of cancer, including melanomas, lung, ovarian, prostate, head, neck and other tumors. The phase III trial preparations were approved in October 2009.

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