Oncolytics Biotech Inc.
- Open
- 0.83
- Day high
- 0.86
- Day low
- 0.82
- Prev close
- 0.85
- Volume
- 1.0M
- Mkt cap
- $102M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -28.1
- P/S
- —
- Yield
- —
- Per share
- —
Oncolytics Biotech Inc. (ONCY) is a Healthcare company listed on NASDAQ. The stock is down 31% over the past year.
Oncolytics Biotech Inc. (ONCY) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ONCY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $-0.05 | $-0.08 | -60.0% | — | — |
| Mar 30, 2026 | $-0.06 | $-0.08 | -33.3% | — | — |
| Nov 12, 2025 | $-0.12 | $-0.10 | +16.7% | — | — |
| Aug 8, 2025 | $-0.11 | $-0.05 | +54.5% | — | — |
| May 14, 2025 | $-0.09 | $-0.06 | +33.3% | — | — |
| Mar 7, 2025 | $-0.08 | $-0.07 | +12.5% | — | — |
| Aug 1, 2024 | $-0.08 | $-0.07 | +12.5% | — | — |
| May 9, 2024 | $-0.09 | $-0.07 | +22.2% | — | — |
| Mar 7, 2024 | $-0.11 | $-0.04 | +63.6% | — | — |
| Nov 3, 2023 | $-0.07 | $-0.10 | -42.9% | — | — |
| Aug 14, 2023 | $-0.09 | $-0.09 | +0.0% | — | — |
| May 5, 2023 | $-0.07 | $-0.07 | +0.0% | — | — |
ONCY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 13, 2026 | Kelly Jareddirector, officer: Chief Executive Officer | Buy | 5,050 | $0.96 |
| Mar 13, 2026 | Parsons James T.director | Buy | 10,000 | $1.03 |
| Feb 13, 2026 | Look Kirkofficer: Chief Financial Officer | Buy | 12,000 | $0.84 |
| Feb 13, 2026 | Pisano Waynedirector | Buy | 30,000 | $0.84 |
| Feb 13, 2026 | Heineman Thomas Charlesofficer: Chief Medical Officer | Buy | 12,132 | $0.83 |
| Feb 13, 2026 | Brown Deborah Margaretdirector | Buy | 25,000 | $0.85 |
| Feb 13, 2026 | Hagerman Allisonofficer: VP, Product Development | Buy | 10,000 | $0.83 |
| Feb 13, 2026 | Kelly Jareddirector, officer: Chief Executive Officer | Buy | 29,500 | $0.84 |
| Feb 13, 2026 | Seizinger Bernd R.director | Buy | 60,000 | $0.83 |
| Feb 13, 2026 | Aromando Andrewofficer: Chief Business Officer | Buy | 29,600 | $0.86 |
| Feb 13, 2026 | Andrews Patricia Sdirector | Buy | 35,400 | $0.86 |
| Feb 13, 2026 | Seizinger Bernd R.director | Buy | 40,000 | $0.85 |
| Feb 13, 2026 | Kelly Jareddirector, officer: Chief Executive Officer | Buy | 5,600 | $0.84 |
| Jan 20, 2026 | Seizinger Bernd R.director | Buy | 100,000 | $1.04 |
Source: ONCY SEC Form 4 filings, latest Mar 13, 2026. For informational purposes only — not investment advice.
See the full ONCY insider & 13F page →Oncolytics Biotech Inc. company profile
Overview
Oncolytics Biotech Inc. (NASDAQ:ONCY) is a Canadian development-stage biopharmaceutical company founded in 1998 and headquartered in Calgary, Alberta. The company went public in 2001 and has spent over two decades developing its lead therapeutic candidate, pelareorep, an oncolytic virus-based immunotherapy for cancer treatment. As a clinical-stage biotechnology company, Oncolytics has no commercial products and generates no revenue, instead focusing entirely on advancing pelareorep through various clinical trials targeting multiple cancer types including breast, pancreatic, and anal cancers.
Business
Oncolytics Biotech operates in the specialized field of oncolytic virotherapy, a cutting-edge cancer treatment approach that uses genetically modified or naturally occurring viruses to selectively target and destroy cancer cells. The company's sole focus is developing pelareorep (also known as PELA), an intravenously administered immunotherapeutic agent derived from the reovirus. Pelareorep works through a dual mechanism of action. First, it directly infects and kills cancer cells that have defective cellular pathways, particularly those with activated Ras signaling - a common feature in many cancers. Second, and perhaps more importantly, it acts as an immunotherapy by stimulating the patient's immune system to recognize and attack cancer cells more effectively. When the virus destroys cancer cells, it releases tumor antigens and danger signals that alert the immune system, essentially turning "cold" tumors (those that evade immune detection) into "hot" tumors that can be recognized and attacked by the body's natural defenses. The company is currently pursuing pelareorep development across three primary cancer indications. The breast cancer program focuses on hormone receptor-positive, HER2-negative metastatic breast cancer, representing the most advanced program with promising Phase 2 results. The pancreatic cancer program targets one of the most difficult-to-treat cancers, with pelareorep being tested in combination with standard chemotherapy regimens. The anal cancer program represents an emerging opportunity, with early results showing a 33% objective response rate in relapsed cases. Unlike traditional pharmaceutical companies with multiple product lines, Oncolytics is essentially a single-asset company with 100% of its resources dedicated to pelareorep development across these various cancer applications.
Revenue model
As a development-stage biopharmaceutical company, Oncolytics currently generates no revenue and operates on a research and development model funded primarily through equity financing and strategic partnerships. The company's business model is built around advancing pelareorep through clinical trials with the ultimate goal of achieving regulatory approval and either commercializing the drug independently or through strategic partnerships. The company's path to profitability depends on successfully demonstrating pelareorep's efficacy and safety in registration-enabling clinical trials, followed by regulatory approval from agencies like the FDA. Once approved, Oncolytics would generate revenue through product sales to hospitals, cancer centers, and oncology practices that treat patients with the targeted cancer types. The company has estimated a potential addressable market of 55,000 breast cancer patients in the U.S. by 2027, with projected annual sales of $2.4 billion across the U.S. and major European markets by 2033. Strategic partnerships represent a critical component of the business model. Oncolytics has existing collaborations with major pharmaceutical companies including Merck KGaA and Pfizer for co-development programs, and is actively seeking additional partnerships that could provide upfront payments, milestone payments during development, and royalty payments on future sales. These partnerships are essential given the substantial capital requirements for late-stage clinical trials and eventual commercialization. Several factors could significantly impact the company's margins and success. Positive clinical trial results would dramatically increase the company's value and partnership attractiveness, while negative results could be catastrophic for a single-asset company. Regulatory approval timelines directly affect the time to market and cash burn duration. Manufacturing scale-up costs for the complex viral therapy production could impact margins. Competition from other cancer therapies, particularly antibody-drug conjugates (ADCs) in breast cancer, could limit market share. Healthcare reimbursement policies will ultimately determine pricing power and market access for pelareorep.
Competitive moat
Oncolytics Biotech's competitive moat is relatively narrow and primarily based on intellectual property and clinical development expertise rather than traditional business advantages. The company's main moat consists of its proprietary knowledge and patent portfolio around pelareorep's mechanism of action, manufacturing processes, and clinical applications across multiple cancer types. The company's clinical data package represents a significant barrier to entry, as competitors would need to conduct their own extensive clinical trials to demonstrate safety and efficacy. Oncolytics has accumulated years of clinical experience with pelareorep across multiple cancer types, giving it deep understanding of optimal dosing, combination therapies, and patient selection criteria. The company's relationships with key opinion leaders in oncology and established clinical trial networks provide some competitive advantage. However, the moat is not particularly strong. The oncolytic virus field is experiencing renewed interest from both biotechnology companies and large pharmaceutical firms, increasing competitive pressure. Other oncolytic viruses in development could potentially offer similar or superior efficacy profiles. More significantly, alternative cancer immunotherapies including CAR-T cell therapies, antibody-drug conjugates, and novel checkpoint inhibitors represent substantial competitive threats that could capture market share before pelareorep reaches commercialization. The company's single-asset focus creates both opportunity and vulnerability. While it allows for concentrated expertise and resource allocation, it also means that competitive threats or clinical setbacks could be existentially damaging. The lack of diversification across multiple therapeutic areas or development stages makes Oncolytics particularly susceptible to disruption from breakthrough therapies in its target cancer indications. Strategic partnerships with larger pharmaceutical companies could strengthen the moat by providing additional resources, regulatory expertise, and commercial capabilities, but these relationships also dilute Oncolytics' control and potential returns from pelareorep's success.
Risks & safety
Oncolytics Biotech presents a high-risk investment profile typical of clinical-stage biotechnology companies, with limited margin of safety for investors. **Cash Position and Burn Rate:** • Cash and cash equivalents of $11.1 million as of December 31, 2024 • Operating cash burn of approximately $18.8 million annually (2024) • Current cash runway extends only into early 2025, requiring additional financing • Debt-to-equity ratio of 0.18, indicating minimal debt burden but also limited financial flexibility **Valuation Metrics:** • Market capitalization of approximately $32 million, reflecting significant risk discount • Price-to-book ratio of 16.7, indicating premium valuation relative to tangible assets • No meaningful revenue or earnings metrics due to pre-commercial status • Enterprise value reflects high uncertainty around clinical outcomes **Other Considerations:** • Single-asset company with binary risk profile dependent on pelareorep's clinical success • Strong current ratio of 2.8 provides short-term liquidity cushion • Need for significant additional capital raises likely to cause substantial dilution • Clinical trial failures could result in near-total loss of investment value
Recent development
Over the past few years, Oncolytics has strategically focused on advancing pelareorep toward registration-enabling studies in its most promising cancer indications. The company's breast cancer program has emerged as the lead opportunity following positive results from the BRACELET-1 Phase 2 trial, which demonstrated nearly doubled progression-free survival (from 6.4 to 12.1 months) and an overall survival benefit of approximately 14 months in hormone receptor-positive, HER2-negative metastatic breast cancer patients. The company has pivoted toward a more focused development strategy, concentrating resources on two primary registration pathways: breast cancer and pancreatic cancer. In breast cancer, Oncolytics is planning a registration-enabling Phase 2 study with approximately 180 patients, targeting the second half of 2025 for enrollment initiation. The company has engaged with the FDA through Type C meetings to optimize the study design and regulatory pathway. In pancreatic cancer, Oncolytics has established significant strategic collaborations, including partnerships with the Global Coalition for Adaptive Research (GCAR) and a $5 million grant from the Pancreatic Cancer Action Network (PanCAN). These collaborations enable the company to pursue adaptive trial designs and evaluate pelareorep in combination with different standard-of-care chemotherapy regimens. The company has also made substantial progress in manufacturing scale-up, advancing from laboratory-scale production to 200-liter bioreactor capacity and implementing automated drug product filling processes. This manufacturing advancement is critical for supporting larger registration trials and eventual commercialization. Business development activities have intensified, with Oncolytics actively engaging potential strategic partners while maintaining existing collaborations with major pharmaceutical companies. The company is leveraging its clinical data package to attract partnerships that could provide the substantial capital needed for late-stage development and commercialization. Leadership changes have occurred, with Wayne Pisano serving as Interim CEO while the company searches for a permanent replacement.
ONCY company profile · for informational purposes only — not investment advice.
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