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Recently, Oncolytics Biotech Inc. (ONCY - Snapshot Report) reported positive preliminary results from the US phase II trial (REO 020) evaluating the use of oncology candidate, Reolysin in combination with Bristol-Myers Squibb's (BMY - Analyst Report) Taxol (paclitaxel) and carboplatin, which are widely used chemotherapy treatment. The phase II trial aims to assess the safety and efficacy profile of Reolysin in patients suffering from metastatic melanoma.

The study enrolled second-line or third-line metastatic malignant melanoma patients. Patients for whom the standard first line treatment was considered unsuitable were also enrolled. In the first stage of the phase II trial, 3 of the 14 metastatic melanoma patients demonstrated partial response (PR). Additionally, 7 patients exhibited stable disease with a disease control rate of 71.5%.

We are pleased with the preliminary results from the phase II trial, which supports the candidate’s progression into the second stage. The primary endpoint of the phase II trial is to evaluate the treatment regimen’s anti-tumour effect. The secondary endpoints include the evaluation of progression-free survival and overall survival, disease control rate, safety and tolerability.

Investors have reacted positively to the encouraging preliminary data on Reolysin.

We note Oncolytics Biotech is developing Reolysin as monotherapy or in combination with chemotherapy and radiotherapy for several oncology indications, including head and neck cancers (phase III), pancreatic cancer (phase II) and non-small cell lung cancer (phase II).

Oncolytics Biotech carries a Zacks Rank #2 (Buy). Right now, Anika Therapeutics,Inc. and Jazz Pharmaceuticals Public Limited Company (JAZZ - Analyst Report) look more attractive. Both stocks carry a Zacks Rank #1 (Strong Buy).

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