This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Oncolytics Pumps Stock With Worsening Lung Cancer Drug Data

CALGARY ( TheStreet) -- Oncolytics Biotech continues to mislead investors about the clinical profile of its experimental cancer drug Reolysin. The company's latest stock-promoting stunt: Issuing a press release Monday (ONCY) claiming "positive final" results from a mid-stage study of Reolysin in lung cancer. Reality check: The new Reolysin data are actually worse than what Oncolytics reported last March.

Oncolytics says the final analysis of the phase II study involves 25 patients with squamous cell carcinoma of the lung. All the patients were treated with Reolysin in combination with the chemotherapy drugs carboplatin and paclitaxel. The study has no control arm, making results clinically meaningless.

Per today's press release, of the 25 patients evaluated, 10 patients showed partial tumor shrinkage, equal to an overall response rate of 40%.

Last March, Oncolytics reported results from 21 patients in the same study. At that time, nine patients reported partial tumor shrinkage for an overall response rate of 43%.

So, in about five months, Oncolytics managed to enroll another four lung cancer patients into this trial, with just one additional tumor response.

Oncolytics actually first reported results from this lung cancer study in February. At that time, the company had enrolled 20 patients with 9 showing tumor shrinkage, or an overall response rate of 45%.

According to, the Reolysin lung cancer study was designed to enroll 55 patients. The study is no longer recruiting patients, so if today's results are "final" -- as Oncolytic claims -- where are the missing 30 patients?

-- Reported by Adam Feuerstein in Boston.

Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ONCY $0.28 3.36%
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs