04:21 PM EDT, 05/09/2024 (MT Newswires) -- Oncolytics Biotech ( ONCY ) , which earlier Thursday reported it received German regulatory approval to start enrollment into a new GOBLET study pancreatic cancer cohort, said its first-quarter loss widened slightly.

The development-stage biopharmaceutical company said it lost $6.9 million, or $0.09 per share, in the quarter, compared with from $6.4 million, or $0.10, in the year-prior quarter.

Net cash used in operating activities was $7.5 million, compared with $7.8 million last year.

The company reported a cash position of $29.6 million, which it said provides runway through critical milestones into 2025.

In its outlook, Oncolytics said preparations are underway for the Type C meeting with the FDA to establish the registrational pathway for palareorep in HR+/HER2- metastatic breast cancer.

The overall survival data from BRACELET-1 breast cancer study is also expected in the second half of this year.

The company's shares closed up C$0.07 to C$1.69 on the Toronto Stock Exchange.