Oncolytics Biotech Inc T.ONC

Alternate Symbol(s): ONCY

Healthcare Biotechnology

Oncolytics Biotech Inc. is a clinical-stage biotechnology company. The Company is focused on developing pelareorep, an intravenously delivered immunotherapeutic agent that activates the innate and adaptive immune systems and weakens tumor defense mechanisms. This compound induces anti-cancer immune responses and promotes an inflamed tumor phenotype turning cold tumors hot through innate and adaptive immune responses to treat a variety of cancers. This improves the ability of the immune system to fight cancer, making tumors more susceptible to a broad range of oncology treatments. The Company’s primary focus is to advance its programs in hormone receptor-positive / human epidermal growth factor 2- negative (HR+/HER2-) metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma to registration-enabling clinical studies. In addition, it is exploring opportunities for registrational programs in other gastrointestinal cancers through its GOBLET platform study.

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Oncolytics Biotech Inc > Inflation Reduction Act (IRA) boosts biological drugs

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Comment by Noteableon Mar 19, 2024 6:53pm

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Post# 35941805

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Inflation Reduction Act (IRA) boosts biological drugs

On February 02, 2024 the proposed BIOSECURES ACT (Biosecurity Act) was announced in the US Senate which caused the immediate sell-off of Chinese biotech companies, including WuXi AppTec, BGI Group MGI and Complete Genomics.

On February 06, 2024 approximately 3.74 million shares of ONCY were sold on the NASDAQ and approximately 675K on the TSX, followed by another 1.75 million NASDAQ shares sold on March 06, 2024 and 350K shares on the TSX the same day. Both these sales appear to be directly related to the above.

https://www.axios.com/2024/02/03/biotech-us-china-tech-competition-bgi

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