Oncolytics Biotech (ONCY)
NASDAQ:ONCY
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Oncolytics Biotech
(NASDAQ:ONCY)
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Rating:52Neutral
Price Target:
$1.00
▼(-10.71% Downside)
Action:Reiterated
Date:06/03/26
Score is held back primarily by weak financial performance (no revenue, sizable losses, ongoing cash burn, and negative equity). This is partially offset by constructive technical strength (price above major moving averages) and a favorable recent corporate-news flow (FDA alignment and positive trial/preclinical updates), while valuation remains constrained by negative earnings and no provided dividend yield.
Positive Factors
Differentiated mechanism & translational data
Robust translational and mechanistic data demonstrating innate and adaptive immune activation provide durable scientific differentiation. Biomarker‑backed evidence and observed T‑cell clonal expansion support pelareorep as a combination backbone, improving trial design, patient selection, and long‑term partnering prospects in immuno‑oncology.
Negative Factors
No operating revenue and ongoing losses
The company has no operating revenue and persistent multi‑year losses, creating structural reliance on external capital. Continued negative profitability constrains reinvestment capacity, forces financing needs during critical development stages, and increases dilution risk that can impair long‑term strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Differentiated mechanism & translational data
Robust translational and mechanistic data demonstrating innate and adaptive immune activation provide durable scientific differentiation. Biomarker‑backed evidence and observed T‑cell clonal expansion support pelareorep as a combination backbone, improving trial design, patient selection, and long‑term partnering prospects in immuno‑oncology.
Read all positive factors
Oncolytics Biotech (ONCY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$99.80M
Dividend YieldN/A
Average Volume (3M)1.50M
Price to Earnings (P/E)―
Beta (1Y)1.25
Revenue GrowthN/A
EPS Growth13.21%
CountryUS
Employees28
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.34
Shares Outstanding119,354,065
10 Day Avg. Volume2,042,510
30 Day Avg. Volume1,504,982
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)-22.05
Price to Sales (P/S)0.00
P/FCF Ratio-4.17
Enterprise Value/Market Cap1.39
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-6.23K
Enterprise Value/Ebitda-4.20
Forecast
1Y Price Target
$6.00Price Target Upside435.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.32
Revenue Forecast (FY)N/A
Oncolytics Biotech Business Overview & Revenue Model
Company Description
Oncolytics Biotech Inc., a development-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. Its lead product is pelareorep, an intravenously delivered immunotherapeutic a...
How the Company Makes Money
Oncolytics Biotech does not sell an approved commercial product and, as a clinical-stage company, its recurring operating revenue is generally limited. The company’s primary source of funding is typically external capital (e.g., equity financings)...
Oncolytics Biotech Earnings Call Summary
Earnings Call Date:May 14, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Positive
The earnings call reflects a strong positive sentiment with significant advancements in clinical data and strategic financial moves. The highlights, particularly in clinical trial progress and promising data across several cancer types, outweigh the challenges such as the ongoing CEO search and reduced R&D spending.Positive Updates
Clinical Data Exceeds Expectations
Oncolytics Biotech's clinical data for pelareorep continues to exceed expectations, particularly in difficult-to-treat malignancies such as pancreatic cancer, breast cancer, and anal carcinoma.
Negative Updates
Ongoing CEO Search
The search for a new CEO is still ongoing, indicating a potential leadership gap in the interim period.
Read all updates
Q1-2025 Updates
Positive
Negative
Clinical Data Exceeds Expectations
Oncolytics Biotech's clinical data for pelareorep continues to exceed expectations, particularly in difficult-to-treat malignancies such as pancreatic cancer, breast cancer, and anal carcinoma.
Read all positive updates
Company Guidance
During the first quarter conference call for Oncolytics Biotech in 2025, the company provided guidance on several key metrics related to the development of their cancer therapeutic, pelareorep (pela). They reported cash and cash equivalents of $15.3 million, which is expected to provide financial runway through the third quarter of 2025. Net cash used in operating activities was $6.5 million, a decrease from $7.5 million in the same period last year. General and administrative expenses remained consistent at $3 million, while research and development expenses decreased to $4.1 million from $5.7 million in Q1 2024. The net loss for the quarter was $6.7 million, or $0.08 per share, compared to $6.9 million or $0.09 per share in the previous year. The company also announced a $20 million share purchase agreement with Alumni Capital to extend their financial runway. Oncolytics is advancing their clinical trials, particularly focusing on breast and pancreatic cancer, with promising efficacy data from randomized Phase 2 studies and plans for future registrational opportunities.Oncolytics Biotech Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
20
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -22.31K | 0.00 | 0.00 | -298.59K | -301.11K | -360.57K |
| EBITDA | -33.09M | -39.41M | -34.88M | -20.19M | -18.71M | -20.58M |
| Net Income | -35.52M | -39.46M | -31.71M | -20.56M | -19.08M | -20.98M |
Balance Sheet | ||||||
| Total Assets | 8.16M | 10.40M | 20.19M | 38.82M | 37.33M | 45.88M |
| Cash, Cash Equivalents and Short-Term Investments | 5.49M | 7.14M | 15.94M | 34.91M | 32.14M | 41.26M |
| Total Debt | 508.00K | 772.51K | 1.06M | 423.00K | 373.00K | 655.00K |
| Total Liabilities | 13.29M | 15.62M | 14.20M | 11.26M | 10.83M | 9.78M |
| Stockholders Equity | -5.13M | -5.21M | 5.98M | 27.56M | 26.50M | 36.10M |
Cash Flow | ||||||
| Free Cash Flow | -30.89M | -27.60M | -27.20M | -28.46M | -23.41M | -22.72M |
| Operating Cash Flow | -30.89M | -27.60M | -26.97M | -28.45M | -23.36M | -22.43M |
| Investing Cash Flow | -16.65K | -8.23K | -239.00K | 20.22M | -20.40M | -285.95K |
| Financing Cash Flow | 23.71M | 19.37M | 6.64M | 31.99M | 12.21M | 33.02M |
Oncolytics Biotech Risk Analysis
Oncolytics Biotech disclosed 68 risk factors in its most recent earnings report. Oncolytics Biotech reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Oncolytics Biotech Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $151.84M | 1.38 | 55.29% | ― | -100.00% | ― | |
52 Neutral | $99.80M | ― | 5132.04% | ― | ― | 13.21% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $260.54M | -2.07 | -53.61% | ― | -100.00% | 44.78% | |
51 Neutral | $303.45M | -4.04 | -118.24% | ― | 138.86% | 42.14% | |
50 Neutral | $89.38M | -14.75 | 25.68% | ― | -88.41% | 76.14% | |
48 Neutral | $38.49M | -1.02 | -84.91% | ― | ― | -40.23% |
* Healthcare Sector Average
ONCY
Oncolytics Biotech
0.84
0.39
88.29%
ATOS
Atossa Therapeutics
4.47
-9.24
-67.40%
ORMP
Oramed Pharm
3.71
1.63
78.54%
ATRA
Atara Biotherapeutics
9.92
0.66
7.13%
ZNTL
Zentalis Pharmaceuticals
3.66
2.17
145.64%
PRLD
Prelude Therapeutics
3.81
2.63
222.88%
Oncolytics Biotech Corporate Events
Business Operations and StrategyExecutive/Board Changes
Oncolytics Biotech Strengthens Leadership with New COO, Director
Positive
Jun 2, 2026
On June 1, 2026, Oncolytics Biotech appointed veteran clinical operations executive John McAdory as Chief Operating Officer, expanding his remit to oversee clinical operations, development activities, preclinical RD, and strategic partnerships, af...
Business Operations and StrategyProduct-Related Announcements
Oncolytics Highlights Pelareorep-RAS Combo Preclinical Cancer Results
Positive
Jun 1, 2026
On June 1, 2026, Oncolytics Biotech Inc. reported initial preclinical data showing that its investigational immunotherapy pelareorep, when combined with RAS inhibitor modalities in a solid tumor model, produced greater anti-tumor activity than eit...
Business Operations and Strategy
Oncolytics Highlights Pelareorep Immune Activation Data at ASCO
Positive
May 22, 2026
On May 22, 2026, Oncolytics Biotech announced that translational data from its GOBLET and AWARE-1 trials will be presented at the 2026 American Society of Clinical Oncology Annual Meeting, highlighting pelareorep’s ability to activate both i...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Oncolytics Biotech Highlights Strong Pelareorep Data in Colorectal Cancer
Positive
May 4, 2026
On May 4, 2026, Oncolytics Biotech reported new data from its REO 022 study showing that pelareorep-based combination therapy produced a 19.5-month median duration of response in second-line KRAS-mutant, microsatellite-stable metastatic colorectal...
Business Operations and StrategyProduct-Related Announcements
Oncolytics Biotech Aligns with FDA on Pelareorep Trial
Positive
Apr 27, 2026
On April 27, 2026, Oncolytics Biotech announced it had reached alignment with the U.S. Food and Drug Administration on the design of a pivotal randomized controlled study of pelareorep in unresectable metastatic squamous cell carcinoma of the anal...
Business Operations and StrategyPrivate Placements and Financing
Oncolytics Biotech Establishes $75 Million ATM Offering
Neutral
Apr 6, 2026
On April 6, 2026, Oncolytics Biotech Inc. entered into an Open Market Sale Agreement with Jefferies LLC, allowing the company to sell up to $75 million of its common stock from time to time through at-the-market offerings under an effective U.S. s...
Business Operations and StrategyRegulatory Filings and Compliance
Oncolytics Plans FDA Meeting for Pelareorep SCAC Study
Positive
Apr 6, 2026
On April 6, 2026, Oncolytics Biotech announced it had scheduled a Type C meeting with the U.S. Food and Drug Administration for April 16, 2026, to discuss a potential single-arm registrational study of pelareorep plus a checkpoint inhibitor in sec...
Business Operations and StrategyRegulatory Filings and Compliance
Oncolytics Biotech Completes Domestication to Nevada with New Governance
Neutral
Apr 1, 2026
On April 1, 2026, Oncolytics Biotech completed its domestication to Nevada, filing articles of domestication and incorporation, adopting new bylaws, and entering indemnification and expense advancement agreements for directors and executive office...
Business Operations and StrategyRegulatory Filings and Compliance
Oncolytics Biotech Shifts Corporate Domicile to British Columbia
Neutral
Mar 20, 2026
Oncolytics Biotech has completed a corporate continuance that shifts the governing framework for its common shares from Alberta corporate law to the British Columbia Business Corporations Act. As part of this process, the company adopted new Notic...
Business Operations and Strategy
Oncolytics Highlights New Pelareorep Data in Cancer Immunotherapy
Positive
Mar 19, 2026
On March 19, 2026, Oncolytics Biotech announced that new mechanistic and translational data on its lead immunotherapy pelareorep will be presented in two abstracts at the AACR 2026 Annual Meeting, covering metastatic pancreatic ductal adenocarcino...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.