By Stephen Nakrosis
Shares of Oncolytics Biotech were trading higher on the Nasdaq on Monday, after the company presented updated pancreatic cancer data from a Phase 1/2 study at the European Society for Medical Oncology meeting in Madrid.
At 3:35 p.m. ET, the company’s stock had risen 9.3%, to $1.69 a share. Volume at the time topped 763,000 shares, above the stock’s 65-day average volume of 613,422 shares.
Matt Coffey, president and chief executive officer of Oncolytics, said “the data we are presenting at ESMO provide a solid foundation as we advance our pancreatic cancer program through the Precision Promise Phase 3 trial in this indication.”
The data showed a median progression-free survival of 7.2 months and an interim median overall survival of 10.6 months, surpassing historical outcomes by greater than or equal 25%, the company said. Oncolytics also said the treatment combination was well tolerated with no safety concerns.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
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