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Oncolytics Biotech Establishes New At-The-Market Facility; 4Q Loss Widens

Dow Jones Newswires ·  Mar 5, 2021 21:17

DJ Oncolytics Biotech Establishes New At-The-Market Facility; 4Q Loss Widens

By Michael Dabaie

Oncolytics Biotech Inc. said it entered an at-the-market equity offering sales agreement with Canaccord Genuity LLC.

The agreement allows the company to issue common shares from treasury at prevailing market prices, with an aggregate gross sales amount of up to $80 million.

Oncolytics said the ATM facility provides it the option to tap into the financial markets as needed to support business development activities and clinical trials.

Oncolytics reported a net loss for the fourth quarter of C$9.3 million ($7.4 million), compared with a net loss of C$19.4 million in the fourth quarter of 2019. The loss per share was C$0.21 from C$0.71 in the prior-year period.

As of March 4, the company had about C$50 million in cash and cash equivalents.

The company said it is on track to report clinical biomarker and safety data in breast cancer this year.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

March 05, 2021 08:17 ET (13:17 GMT)

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