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Earnings Call Summary | Oncolytics Biotech(ONCY.US) Q1 2024 Earnings Conference

Futu News ·  May 10 23:35  · Conference Call

The following is a summary of the Oncolytics Biotech, Inc. (ONCY) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Oncolytics Biotech reported a cash position of $29.6 million at the end of Q1 2024, down from $34.9 million at the end of 2023.

  • The company reported a net loss of $6.9 million for the first quarter of 2024, a slight increase from a net loss of $6.4 million in the first quarter of 2023.

  • Research and development expenses for Q1 2024 amounted to $5.7 million, primarily because of increased manufacturing expenses and preparations for upcoming product fills.

Business Progress:

  • Oncolytics focused on advancing its proprietary immunotherapeutic product candidate, pelareorep.

  • Enrollment in the anal cancer cohort of the GOBLET study has been extended, potentially leading to a new registrational indication.

  • The company received regulatory approval to move forward with the pela and modified FOLFIRINOX combination study.

  • Overall survival data from the BRACELET-1 breast cancer study is expected in H2 2024.

  • Oncolytics plans to initiate registration-enabling studies in breast and pancreatic cancer.

More details: Oncolytics Biotech IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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