Monday, 2 March 2015
Oncolytics Biotech Announces Receipt of Orphan Drug Designation For Three Types Of Cancers In A Month
Oncolytics Biotech Inc. (ONCY) rose 46% on Monday and has more than doubled in price in a month since its lead product candidate, REOLYSIN® has been granted orphan drug designations for Ovarian Cancer on February 11, Pancreatic Cancer on February 17 and Cancer of the Fallopian Tube on March 2. The wave of orphan drug designations for the company pave the way to quickly market REOLYSIN to treat these deadly cancers. The company's market cap is less than $100 million which makes it a highly undervalued biotech gem considering the potential of REOLYSIN as an orphan drug.