Oncorus, Inc. - ONCR STOCK NEWS

Oncorus recently updated its stakeholders on its progress in the second quarter of 2021, reporting $159.9 million in cash and equivalents. The company is advancing the Phase 1 clinical trial of ONCR-177, with initial data expected in 4Q 2021. It has also nominated two new synthetic vRNA candidates, ONCR-021 and ONCR-788, aimed at treating various cancers. The company continues to build a GMP manufacturing facility and has expanded its Board of Directors. However, net losses rose to $15.5 million from $12.1 million year-over-year, reflecting increased R&D expenses.

Oncorus, Inc. (Nasdaq: ONCR) appointed Barbara Yanni to its Board of Directors. Yanni, a former Merck executive, brings extensive experience in corporate development and licensing. This appointment aligns with Oncorus’ mission to advance its viral immunotherapy pipeline, including ONCR-177, currently in Phase 1 trials. Initial data from the trial is expected later this year. The company is also progressing with its Synthetic vRNA immunotherapy candidates and building its GMP clinical manufacturing facility, enhancing its capabilities in addressing significant cancer treatment needs.

Oncorus, Inc. (Nasdaq: ONCR) has appointed Eric Rubin, M.D. to its Board of Directors. Dr. Rubin's extensive experience in oncology, particularly his leadership role at Merck, where he contributed to the development of KEYTRUDA®, positions him to provide strategic insights. His appointment follows the conclusion of terms for outgoing board members Robert Kirkman, M.D. and Cameron Wheeler, Ph.D. Oncorus continues to advance its viral immunotherapy pipeline, including ONCR-177, which is currently in Phase 1 trials. The company aims to combat significant cancer challenges through its innovative platforms.

Oncorus, a company focused on viral immunotherapies, will host an investor event on June 21, 2021, from 1:00 – 2:30 p.m. ET. The event will spotlight their Synthetic viral RNA (vRNA) Immunotherapy Platform, including candidates ONCR-021 and ONCR-788. Guest speaker Leena Ghandi, M.D., Ph.D., will discuss current clinical practices and the role of IV-administered viral immunotherapies. The virtual event will feature preclinical data and details about a new 88,000 square foot GMP manufacturing facility anticipated to open in 2023.

Oncorus, Inc. (Nasdaq: ONCR) has announced its first Synthetic viral RNA (vRNA) immunotherapy clinical candidates, ONCR-021 and ONCR-788. These candidates utilize a pioneering approach by encapsulating RNA viruses in lipid nanoparticles (LNP) for intravenous delivery, aiming to effectively treat various cancers, including lung cancer. Preclinical studies show promising efficacy while avoiding the neutralizing antibody issues faced by previous therapies. Oncorus plans to file investigational new drug (IND) applications for both candidates in 2023, with a virtual investor event scheduled for June 21, 2021.

Oncorus, focused on viral immunotherapies for cancer, announced that its CEO, Theodore (Ted) Ashburn, M.D., Ph.D., will present at the Jefferies Virtual Healthcare Conference on June 2, 2021, at 2:00 p.m. ET. A live webcast of the presentation will be accessible via the Investors & Media section on their website, with a replay available for 30 days post-event. Oncorus is developing innovative treatments using their oncolytic Herpes Simplex Virus (oHSV) Platform and Synthetic Virus Platform, aiming to enhance therapeutic potency while minimizing systemic toxicity.

Oncorus (ONCR) reported first-quarter 2021 results, highlighting ongoing enrollment in the Phase 1 trial of its oncolytic Herpes Simplex Virus candidate, ONCR-177, with interim data expected in 2H’21. The company secured $57 million from a public offering in February 2021, boosting cash reserves to $172.6 million. Increased R&D expenses, totaling $8.4 million, and administrative costs of $4.2 million, contributed to a net loss of $12.7 million, or $0.53 per share. Oncorus anticipates sufficient capital to fund operations through late 2023.

Oncorus transitioned into a clinical-stage company in 2020, initiating the Phase 1 trial of its lead product, ONCR-177, for solid tumors. Key highlights included a $98.4 million IPO, and a collaboration with Merck for a trial involving ONCR-177 and KEYTRUDA. As of December 31, 2020, Oncorus reported $130.3 million in cash. The company anticipates significant growth in 2021, with multiple milestones including interim data readouts from ongoing trials and new candidate nominations. Financially, Oncorus reported a net loss of $(11.8) million for Q4 2020, with operational improvements planned through 2023.

Oncorus, Inc. (Nasdaq: ONCR) has announced a public offering of 3,000,000 shares of common stock priced at $19.00 each, aiming for gross proceeds of $57.0 million. This offering includes an option for underwriters to purchase an additional 450,000 shares. The closing date is anticipated for February 17, 2021, pending customary conditions. Jefferies, Evercore ISI, and Piper Sandler are joint book-running managers for this offering. The registration statement was effective as of February 11, 2021, and the offering is subject to SEC regulations.