Oncorus, Inc. - ONCR STOCK NEWS

Oncorus, Inc. (Nasdaq: ONCR) reported its fourth quarter 2022 financial results, focusing on its self-amplifying RNA platform. The company has prioritized the development of ONCR-021, aiming to submit an Investigational New Drug (IND) application by mid-2023. As of December 31, 2022, Oncorus had $62.2 million in cash and equivalents, down from $123.9 million a year prior, with a net loss of $20.9 million for Q4 2022. The firm plans to continue evaluating ONCR-021 for multiple cancers while refining its operational strategy amidst a broader pipeline reprioritization and workforce reduction.

Oncorus and Daewoong Pharmaceutical have entered a research collaboration to develop novel lipid nanoparticle (LNP) formulations for mRNA drug candidates. Oncorus will utilize its proprietary LNP technology and manufacturing facility in Andover, Massachusetts, to explore formulations with Daewoong’s mRNA. Successful outcomes could lead to a licensing and supply agreement for the developed drug candidates. The partnership is seen as a validation of Oncorus' LNP platform, crucial for advancing RNA-based therapies.

Oncorus focuses on its lead RNA candidate, ONCR-021, aimed at treating non-small cell lung cancer and other malignancies, with an IND submission scheduled for mid-2023. The company is discontinuing its ONCR-177 clinical trial and has reduced its workforce by 20%, which will help decrease cash burn. Oncorus expects its financial resources to sustain operations into early 2024. The self-amplifying RNA platform has shown promising preclinical results, suggesting potential effectiveness against various cancers.

Oncorus, Inc. (Nasdaq: ONCR) announced that CEO Theodore Ashburn will speak at two investor conferences on December 1, 2022. The events include a virtual fireside chat at the Evercore ISI HealthCONx Conference at 10:55 a.m. ET and an in-person chat at the Piper Sandler Healthcare Conference in New York at 12:30 p.m. ET. Webcasts of both sessions will be available on Oncorus' website, with replays archived for 90 days. Oncorus focuses on innovative viral immunotherapies aiming to improve cancer treatment outcomes.

Oncorus, Inc. (Nasdaq: ONCR) presented preclinical data for ONCR-719 at the Society for Neuro-Oncology Annual Meeting, showcasing its targeting of EGFR/EGFRvIII for viral entry in glioblastoma multiforme (GBM). The engineered oncolytic HSV-1 vector incorporates four immunomodulatory payloads aimed at reversing the immunosuppressive tumor environment. Results indicate enhanced anti-tumor efficacy and safety in models, addressing the significant unmet need in GBM treatment, with a 5-year survival rate of approximately 7%. Further development depends on strategic partnerships or financing.

Oncorus, Inc. (ONCR) reported its financial results for Q3 2022, highlighting an end-of-quarter cash position of $81.5 million, down from $123.9 million at the end of 2021. Research and development expenses increased to $14.1 million, while general and administrative costs slightly decreased to $5.2 million. The net loss for the quarter was $19.6 million, or $0.76 per share. The company is on track to report additional clinical data for its ONCR-177 candidate and expects to submit an IND for ONCR-021 by mid-2023. A new GMP-compliant manufacturing facility has been completed in Andover, Massachusetts.

Oncorus, Inc. (Nasdaq: ONCR) announced promising preclinical results for its self-amplifying vRNA/LNP immunotherapy platform, focusing on the candidate ONCR-021. Published in Nature Communications, the results demonstrate effective tumor cell targeting and anti-tumor efficacy through repeated IV administration, even in the presence of neutralizing antibodies. The study showed well-tolerated constructs leading to tumor destruction and immune cell recruitment, with significant survival benefits observed in various cancer models. The company plans to submit an IND for ONCR-021 to the FDA in mid-2023.

Oncorus, Inc. (Nasdaq: ONCR) announced that its CEO, Theodore Ashburn, will speak at Chardan's 6th Annual Genetic Medicines Conference on October 3, 2022, at 2:00 p.m. ET in New York City. The discussion will focus on the company's innovative viral immunotherapies aimed at enhancing cancer treatment outcomes. The event will be accessible via a live webcast on Oncorus' investor website, with a replay available for 90 days post-event. Oncorus is advancing its Herpes Simplex Virus (HSV) and self-amplifying viral RNA platforms for various cancer indications.