Oncolytics Biotech shares jump 10.85% intraday after completing GOBLET study and prioritizing registration trials in anal, colorectal cancers to avoid dilution.

Oncolytics Biotech surged 10.85% intraday after announcing it has concluded enrollment in the GOBLET gastrointestinal cancer study and will prioritize registration-focused trials in squamous cell anal cancer (SCAC) and metastatic colorectal cancer (CRC). The company highlighted promising efficacy signals in SCAC from the GOBLET Cohort 4, enabling a streamlined path to FDA approval through a single-arm trial with fewer than 100 patients. With sufficient cash reserves to avoid immediate dilution, Oncolytics plans to meet with the FDA in mid-April to finalize trial design and has paused further enrollment in less strategic PDAC cohorts. The strategic shift underscores efficient capital deployment and de-risks development timelines, aligning with the stock’s sharp intraday rally.