Oncolytics Biotech Secures FDA Fast Track for Pelareorep-Based Cancer Treatment, Plans Comparative Clinical Study for 2023

Oncolytics Biotech (ONCY) has received FDA Fast Track designation for its cancer treatment regimen, pelareorep, which achieved a 33% objective response rate, significantly higher than the standard 10%. The company plans to initiate a comparative clinical study early next year, with interim results expected by year-end. With a market capitalization of approximately $94.46 million, Oncolytics Biotech is a relatively small player in the biotechnology space.