Oncolytics Biotech® Reports First Quarter Financial Results and Highlights Clinical Momentum

Core Insights - Pelareorep shows significant clinical benefits in treating anal and pancreatic cancers, with ongoing studies demonstrating its versatility and potential to improve patient outcomes [2][9][20] - The company has entered a US$20 million share purchase agreement to support its clinical development efforts, providing a flexible funding source [6] - Financial results for Q1 2025 indicate a net loss of CAD 6.7 million, a slight improvement from CAD 6.9 million in Q1 2024, with cash and cash equivalents reported at CAD 15.3 million [10][15] Clinical Developments - Pelareorep has demonstrated promising results in multiple studies, including randomized Phase 2 studies in breast cancer and ongoing studies in pancreatic cancer and anal cancer [2][18] - The GOBLET study's interim results show an objective response rate of 33% in patients with unresectable squamous cell anal carcinoma, with some patients achieving a complete response lasting over 15 months [9] - Upcoming presentations at the ASCO Annual Meeting will highlight pelareorep's role in activating anti-tumor immunity [3][4] Financial Performance - As of March 31, 2025, the company reported CAD 15.3 million in cash and cash equivalents, projecting a cash runway through key milestones into Q3 2025 [10] - Research and development expenses decreased to CAD 4.1 million in Q1 2025 from CAD 5.7 million in Q1 2024, primarily due to lower manufacturing and clinical trial costs [10][13] - The basic and diluted loss per share improved to CAD 0.08 in Q1 2025 from CAD 0.09 in Q1 2024 [10][15] Strategic Initiatives - The company is focused on optimizing the development pathway for pelareorep, emphasizing its ability to combine with existing therapies while maintaining a favorable safety profile [2][20] - Key opinion leaders have discussed the need for new treatment options and pelareorep's potential to activate the immune system against tumors [5] - The company is advancing towards registrational studies in metastatic breast cancer and pancreatic cancer, both of which have received Fast Track designation from the FDA [20]