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
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