Business
Oncolytics Biotech® Reports Fourth Quarter and Full Year 2019 Financial Results and Operational Highlights
Oncolytics Biotech® Reports Fourth Quarter and Full Year 2019 Financial Results and O...
About this update from Oncolytics Biotech Inc.
[{"type":"text","content":"\n\n\n\nOncolytics Biotech® Reports Fourth Quarter and Full Year 2019 Financial Results and Operational Highlights\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nManagement hosting conference call and webcast today at 5:00 pm ET\nCanada NewsWire\nSAN DIEGO and CALGARY, Alberta, March 5, 2020\n\n\n\nSAN DIEGO and CALGARY, Alberta, March 5, 2020 /CNW/ -- Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), currently developing pelareorep, an intravenously delivered immuno-oncolytic virus, today announced its financial results and operational highlights for the quarter and year ended December 31, 2019. All dollar amounts are expressed in Canadian currency unless otherwise noted.\n\"As we implemented our focused clinical development and investor relations strategies during 2019, our market valuation and trading volume experienced significant increases,\" said Kirk Look, Chief Financial Officer at Oncolytics. \"Since the middle of the fourth quarter and into 2020, we have leveraged multiple prudent and effective financing strategies, while maintaining trading volume and share price. As of today, with cash of $29.7 million, our financial runway takes us to the middle of 2021, fully funding our 2020 program and a considerable set of catalysts, including multiple clinical data announcements.\"\n\"During 2019, we successfully delivered on our strategy to engage pharma as we laid the groundwork for a catalyst rich 2020 and 2021,\" said Dr. Matt Coffey, President and CEO of Oncolytics Biotech. \"We engaged industry leaders, including Pfizer, Roche, Merck, EMD Serono and BMS, to establish relationships and support four of our five ongoing clinical studies in which we combine pelareorep with checkpoint inhibitors. While we continue to focus on demonstrating the effectiveness...