Oncolytics stock soars on cancer trial plan
Posted 10-05-2009 at 12:53 PM by admin
Fri Oct 2, 2009 2:29pm EDT
By Scott Anderson
TORONTO (Reuters) - Oncolytics Biotech Inc said on Friday it has reached an agreement with the U.S. Food and Drug Administration on the design of a late-stage trial for its cancer treatment, sending its shares to a three-year high.
The small Canadian drugmaker said the Phase 3 trial for Reolysin will study the effectiveness of the treatment in combination with paclitaxel and carboplatin in patients with head and neck cancers, versus chemotherapy alone.
The news sent the shares up as much as 29 percent to a high of C$4.10 on the Toronto Stock Exchange. The stock later eased to C$3.68, for a gain of 16 percent.
Oncolytics also said is in discussions on possible partnerships to work on the treatment, President and Chief Executive Brad Thompson told Reuters.
"There is a variety of ways that money will be coming into these studies and financing is only one possible part of that," he told Reuters in an interview.
Read the rest of the article here.
© Thomson Reuters 2009 All rights reserved
By Scott Anderson
TORONTO (Reuters) - Oncolytics Biotech Inc said on Friday it has reached an agreement with the U.S. Food and Drug Administration on the design of a late-stage trial for its cancer treatment, sending its shares to a three-year high.
The small Canadian drugmaker said the Phase 3 trial for Reolysin will study the effectiveness of the treatment in combination with paclitaxel and carboplatin in patients with head and neck cancers, versus chemotherapy alone.
The news sent the shares up as much as 29 percent to a high of C$4.10 on the Toronto Stock Exchange. The stock later eased to C$3.68, for a gain of 16 percent.
Oncolytics also said is in discussions on possible partnerships to work on the treatment, President and Chief Executive Brad Thompson told Reuters.
"There is a variety of ways that money will be coming into these studies and financing is only one possible part of that," he told Reuters in an interview.
Read the rest of the article here.
© Thomson Reuters 2009 All rights reserved
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