Oncolytics gains on Phase III cancer data for Reolysin

Shares of Oncolytics Biotech Inc. (TSX:ONC; NASDAQ:ONCY) jumped on Thursday after the company reported data from the Phase III REO 018 trial evaluating IV Reolysin plus carboplatin and paclitaxel to treat platinum-refractory head and neck cancer. Oncolytics said in 105 evaluable patients with metastatic tumors that a significantly greater proportion of patients receiving Reolysin plus carboplatin and paclitaxel achieved tumor shrinkage or tumor stabilization defined as 0% growth vs. carboplatin and paclitaxel alone at six weeks post-first treatment (86% vs. 67%, p=0.025). The company could not be reached on whether the endpoint was prespecified. Oncolytics said Reolysin plus chemotherapy also led to significantly greater reductions in tumor volume at six weeks vs. chemotherapy alone (p=0.03). The company did not disclose when data for progression-free survival (PFS), a secondary endpoint, and overall survival (OS), the primary endpoint, are expected. Oncolytics was up C$0.66 (28%) to C$3 on Thursday. In New York, the stock was up $0.86 (40%) to $3.03. ...