01:05 PM EST, 03/08/2024 (MT Newswires) -- RBC writes that the new translational data in breast and pancreatic cancer that Oncolytics Biotech ( ONCY ) reported in Q4/23 continued to highlight pelareorep's role in stimulating tumor-directed immune responses and shaping the tumor microenvironment, affirming its immunotherapeutic mechanism of action (MOA), as per management.

The company will provide guidance on the registration path for the HR+/HER2- metastatic breast cancer trial and will initiate the adaptive registration-enabling trial for pela in first-line metastatic pancreatic cancer this year, analyst Douglas Miehm writes.

Management expects to report the OS data from the BRACELET-1 breast cancer trial in H2/24.

RBC is reiterating its positive outlook for Oncolytics. Maintain $6 target and Outperform/Speculative Risk.

"Pela appears to be safe and potentially efficacious in a broad range of tumors, providing a large market opportunity, if it were ultimately approved for multiple indications."

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