Oncolytics Biotech Inc T.ONC

Raymond James

[2O2Ovision]

Raymond James analyst Rahul Sarugaser initiated coverage of two Canadian biotech companies on Thursday, which he thinks are “looking to effect extraordinary change in areas of extraordinary unmet need.”
 
He gave Calgary-based Oncolytics Biotech Inc. (ONC-T +6.04%increase
) an “outperform” recommendation, touting the “clean safety and strong efficacy results” from recent studies on its pelareorep retrovirus-based drug, which has “been shown to make tumors more susceptible to other important oncology treatments by turning immunologically ‘cold’ tumors ‘hot’.”
 
“ONC’s most advanced clinical assets include Phase 2 programs in breast and pancreatic cancer; both programs have received FDA Fast Track Designation,” said Mr. Sarugaser. “In this Moonshots-themed report, we focus on ONC’s opportunity in pancreatic cancer, given the dire unmet need for efficacious treatments, alongside pelareorep’s impressive tripling of objective response rates (GOBLET trial) and doubling of 12-mo overall survival rates (REO 017 trial) vs. benchmark data.”
 
“We see the potential for ONC to submit NDAs for pelareorep in both pancreatic and metastatic breast cancer in 2027/8, yielding a large potential market opportunity (alongside earlier-stage pipeline programs with compelling clinical signals). In the interim, we anticipate a succession of value-creating catalysts, including multiple looks at clinical data, and, with a collection of well-heeled Pharmas already hanging around the hoop (Pfizer, Merck, Roche, Adlai Nortye, Incyte), we assign a non-zero probability to ONC securing material partnerships on data readouts/regulatory guidance in the near- and medium-term, which drives our OP2 rating.”
 
He set a target of $3 per share. The average is $7.58.

[lonc17]

Thanks for the post, 2020. Good to know the reason for today's increase. 

[Buckhenry]

How is that rally working out... we will be lucky to break even today..

[ENEMENEMYNEMO]

Mat can get a room upgrade now maybe on his next road trip!

[Buckhenry]

In other news.... rabbit hides are up a hare!!!

[Azzak34]

Who said rally Bucky? And yes looks like we'll hang on despite others tanking. Have a look around. 

[Noteable]

With Candel Therapeutics' share price up 585% in 2 days, trading close to US$10 per share, I would suggest that Rahul Sarugasar take a closer look at his target pricing model for ONCY, now that Candel Therapeutics is begining to reveal the pent-up demand for certain late-stage companies in the OV sector     

[Noteable]

Judging from the cantechletter, it would appear that Raymond James Rahul Sarugasa does not know the difference between an NDA and a BLA (biological license application), which ONCY's biologic pelarerep would be submitted under to request for permission to introduce, or deliver for introduction, a biologic product into interstate commerce (21 CFR 601.2).  Furthermore