The TSX experienced a dynamic week. It opened flat on Monday, but saw a significant jump on Tuesday, driven by a global increase in commodity prices following new monetary stimulus measures in China. However, the energy sector’s decline led to a breather for the TSX on Wednesday, with the mining, industrials, and tech sectors also experiencing drops.
It is anyone’s guess where the markets will sit by the end of the week, but for now, here are three stocks on the index and Venture Exchange that have been making news that caught investor attention.
Oncolytics Biotech (TSX:ONC, Forum) made headlines this week with the release of results from its Phase 2 BRACELET-1 study, evaluating its pelareorep-based therapy in patients with advanced or metastatic breast cancer. The final results, collected and analyzed two years after the last patient was enrolled, were promising. Notably, the median overall survival was not reached in the pelareorep + paclitaxel arm, as more than half the patients in this cohort were alive by the end of the study. In contrast, the median survival for the paclitaxel monotherapy arm was 18.2 months, with a hazard ratio of 0.48 for pelareorep + paclitaxel versus paclitaxel monotherapy.
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Wayne Pisano, interim CEO of Oncolytics Biotech, highlighted the significance of these results, stating, “The fact that the median overall survival was not reached because more than half the patients were still alive at the end of the study is a remarkable achievement for us. It shows just how promising pelareorep treatment can be for extending the lives of breast cancer patients.” The two-year survival rate for patients in the pelareorep + paclitaxel arm was 64 per cent, compared with 33 per cent for paclitaxel monotherapy patients.
In the tech and industrial sectors, Xtract One Technologies (TSX:XTRA, Forum) unveiled its newest Xtract One Gateway security screener at GSX 2024 in Orlando, Florida. This innovative product allows patrons to walk through proprietary sensors, significantly reducing screening times compared with traditional bag checks. Designed to detect mass-casualty weapons in medium-clutter environments, such as schools, workplaces, and conference venues, the Xtract One Gateway aims to balance powerful threat classification and detection with seamless flow for individuals.
Xtract One is confident that the Xtract One Gateway “[W]ill redefine the security experience by not only balancing powerful threat classification and detection with seamless flow for individuals, but also enhancing safety standards and optimizing operational efficiency.” This product complements its SmartGateway screener, which offers certified weapons detection for low-volume personal belonging environments.
New Found Gold (TSXV:NFG, Forum) also made headlines with the release of results from the first phase of channel samples from the Keats Trench and an update on the Iceberg Trench at the Queensway Project. The company is currently undertaking a 650,000-metre drill program at Queensway, with approximately 232 metres of channels pending assay results.
(Keats Trench plan map with the simplified geology, channel sample assay results and gold grade contours. Source: New Found Gold Corp.)
The highlight channel intervals include 300 g/t Au over 5.10 metres, 215 g/t Au over 5.21 metres, 38.9 g/t Au over 16.60 metres, 13.4 g/t Au over 26.60 metres, 10.4 g/t Au over 13.70 metres, and 27.7 g/t Au over 6.55 metres.
These results confirm good continuity of high-grade mineralization and demonstrate the broad distribution of gold in this portion of the Keats Zone. The company is now 80 per cent complete with excavation at the Iceberg Zone and plans to undertake a detailed analysis of the geological and structural models currently defined through drilling. Investors should keep a close eye on these developments and continue to monitor news updates to keep their portfolios well-informed and up to date.
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(Top image generated with AI)