At fourth-quarter 2019 earnings conference, we expect investors to focus on Oncolytics Biotech Inc.’s ONCY updates pertaining to the clinical studies on pelareorep, an intravenously delivered immuno-oncolytic virus for the treatment of solid tumors and hematological malignancies.
In the last reported quarter, Oncolytics delivered a positive surprise of 36.84%.
Shares of Oncolytics have rallied 10.7% in the past year versus the industry’s decline of 9.2%.
Let’s see, how things are shaping up for this announcement.
Major Updates on Q4 Earnings Call
In absence of a marketed product in the company’s portfolio, invetsors’ focus will be on the updates related to its pipeline development.
Investors will be keen to get an update on pelareorep, an intravenously delivered immuno-oncolytic virus for the treatment of solid tumors and hematological malignancies.
Pelareorep is being evaluated in several studies in combination with leading checkpoint inhibitors to address various oncological indications. Per the company, two key clinical studies will determine the next phase of development for pelareorep to treat metastatic breast cancer.
The AWARE-1 study is evaluating pelareorep in combination with Roche’s RHHBY Tecentriq (atezolizumab) for the treatment of breast cancer. Investors will be keen to get an update on the same as interim data from the AWARE-1 breast cancer study is expected on the upcoming earnings call.
The BRACELET-1 study is evaluating pelareorep in combination with Pfizer's and Merck KGaA's Bavencio for addressing metastatic breast cancer. Oncolytics plans to initiate the phase 2 BRACELET-1 study in the first quarter of 2020.
We expect management to provide a detailed update on the same during the upcoming investor’s call.
Our proven model does not conclusively predict an earnings beat for Oncolytics this season. The right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of a positive surprise. But this is not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Oncolytics has an Earnings ESP of 0.00% as both the Zacks Consensus Estimate and the Most Accurate Estimate are pegged at a loss of 14 cents per share.
Zacks Rank: Oncolytics carries a Zacks Rank #2, which increases the predictive power of ESP. However, the 0.00% ESP makes surprise prediction difficult.
Oncolytics Biotech Inc. Price and EPS Surprise
Stocks That Warrant a Look
Here are a few healthcare stocks worth considering as our model shows that these have the right mix of elements to beat estimates this time around.
Aduro Biotech, Inc. ADRO has an Earnings ESP of +23.08% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
AVEO Pharmaceuticals, Inc. AVEO has an Earnings ESP of +28.04% and a Zacks Rank #3.
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