Oncolytics initiated with a Buy at Lake Street

Lake Street analyst Chad Messer initiated coverage of Oncolytics (ONCY) with a Buy rating and $7 price target Oncolytics is emerging under new management with a clear pivotal strategy focused in frontline metastatic pancreatic ductal adenocarcinoma, where “existing clinical data is strong and the unmet need is clear,” the analyst tells investors. Pelareorep has shown “impressive” increases in survival compared to both historical results and in a randomized study when added to standard of care regimens, added the analyst, who also notes that the FDA has granted fast track designation to pelareorep in pancreatic cancer.