Oncolytics Biotech Sees Stock Rise Amid Conclusion of GIT Cancer Trial Enrollments

Oncolytics Biotech's stock surged after the company announced it has ended enrollment in its Phase 1/2 GOBLET study for pelareorep, a therapy for gastrointestinal cancers. This decision was made due to the significant progress and positive results in the trial, which has treated more than 40 patients with various gastrointestinal cancers, including colorectal and gastric cancers. The study is evaluating the safety and efficacy of pelareorep in combination with standard-of-care chemotherapy in patients with advanced gastrointestinal cancers.