Oncolytics jumps as FDA grants 'fast track' tag for pancreatic cancer therapy

Oncolytics Biotech

01/12/2022 17:07

(Updates)
    ** U.S.-listed shares of biotech company Oncolytics Biotech
Inc  ONCY.O  jump ~24% to $2.18 - biggest one-day pct gain in 2
years
    ** Co says it received U.S. FDA's "fast track" tag for its
therapy for the treatment of a type of pancreatic cancer,
metastatic pancreatic ductal adenocarcinoma
    ** FDA has granted the tag to the therapy, pelareorep, in
combination with Roche Holding's  ROG.S  cancer drug,
atezolizumab
    ** This represents pelareorep's second FDA Fast Track
designation
    ** In 2017, it was granted the designation in a type of
breast cancer 
    ** A fast track designation facilitates development and
expedites review of therapies with the potential to treat a
serious condition where there is an unmet medical need
    ** Including session's gain, stock up ~57% YTD
 (Reporting by Sriparna Roy)
 ((Sriparna.roy@thomsonreuters.com))