Business
Oncolytics Biotech® Reports Fourth Quarter and Full Year 2022 Financial Results and Operational Highlights
Pancreatic cancer program advancing towards registration path supported by phase 1/2 GOBLET data showing a confirmed complete response and 69% objective
About this update from Oncolytics Biotech Inc.
[{"type":"text","content":"Pancreatic cancer program advancing towards registration path supported by phase 1/2 GOBLET data showing a confirmed complete response and 69% objective response rate in advanced/metastatic patients\nPhase 2 BRACELET-1 trial in HR+/HER2- metastatic breast cancer on track for a randomized data readout in Q2 2023 that will inform the design of a pivotal trial\nRegistration opportunities in breast and pancreatic cancer are supported by FDA Fast Track designations\n$32.1 million in cash, cash equivalents and marketable securities as of December 31, 2022 provides projected runway through BRACELET-1's upcoming readout and into 2024\nManagement hosting conference call and webcast today at 8:30 a.m. ET\nSAN DIEGO and CALGARY, Alberta, March 3, 2023 /PRNewswire/ -- Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC) today announced recent operational highlights and financial results for the fourth quarter and full year ended December 31, 2022. All dollar amounts are expressed in Canadian currency unless otherwise noted.\n\n \n \n \n \n \n \n\n \n\"This is a truly exciting time for Oncolytics, as our progress last year provides pelareorep with clear and substantially de-risked paths to registrational studies in both breast and pancreatic cancer,\" said Dr. Matt Coffey, President and Chief Executive Officer. \"Our partner Adlai Nortye recently confirmed pelareorep's ability to combine with paclitaxel and generate sustained clinical responses in HR+/HER2- metastatic breast cancer, which we believe bodes well for BRACELET-1's anticipated readout next quarter. With this readout, we aim to showcase a randomized dataset that shows one or both of the trial's pelareorep-based treatment regimens numerically outperforming the paclitaxel monotherapy arm on key metrics such as overall response rate and progression-free survival. We believe this result would represent a key inflection point, as it would confirm our breast cancer program's prior statistically significant results, accelerate its advancement into a registrational trial, and bolster our business development prospects.\"\nDr. Coffey continued, \"In pancreatic cancer, interim results from pelareorep's GOBLET trial showed an objective response rate that was nearly three times greater than those recorded in historical control trials. These data supported a subsequent Fast Track designation fro...