Oncolytics Biotech ( (TSE:ONC) ) has shared an announcement.
Oncolytics Biotech Inc. has entered into a share purchase agreement with Alumni Capital LP to secure up to $20 million in funding for the continued development of pelareorep. This strategic move allows Oncolytics to advance its clinical milestones while maintaining shareholder value, with the flexibility to control the timing and amount of equity sales.
Spark’s Take on TSE:ONC Stock
According to Spark, TipRanks’ AI Analyst, TSE:ONC is a Neutral.
Oncolytics Biotech faces financial challenges with consistent operational losses and reliance on external financing. While technical indicators suggest bearish momentum, clinical advancements in cancer treatments provide some optimism. The search for a new CEO and regulatory uncertainties pose additional risks. Overall, the stock is speculative with potential upside in successful clinical trials.
To see Spark’s full report on TSE:ONC stock, click here.
More about Oncolytics Biotech
Oncolytics Biotech Inc. is a clinical-stage biotechnology company focused on developing pelareorep, an intravenously delivered immunotherapeutic agent. It has shown promising results in treating metastatic breast cancer and pancreatic cancer by inducing anti-cancer immune responses and promoting an inflamed tumor phenotype.
YTD Price Performance: -44.19%
Average Trading Volume: 1,064,173
Technical Sentiment Signal: Strong Buy
Current Market Cap: $45.34M
For an in-depth examination of ONC stock, go to TipRanks’ Stock Analysis page.