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Biotech / Medical : Oncolytics Biotech Inc.

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To: geoffb_si who wrote (65)4/17/2002 11:00:30 AM
From: geoffb_si  Read Replies (1) of 103
 
Canaccord initiates coverage of Oncolytics with a Speculative Buy Recommendation and 12-month target of $7.

Canaccord daily letter: Speculative buy; target $7

"SPECULATIVE BUY : Oncolytics Biotech Inc. (onc : tse : $3.13 / oncy : nasdaq : US$1.98 : Issued 19.2m)

12-month target price: $7.00
Shameze Rampertab, CA (416) 869-6597

Oncolytics is developing a virus with a simple, targeted mechanism of action against cancer. REOLYSIN is the company?s trademarked reovirus that infects, multiplies in, and destroys mammalian cells with an activated Ras pathway

Validated science in many peer-reviewed journals with compelling clinical data. REOLYSIN is proceeding to a Phase II clinical trial for prostate cancer and a Phase I/II clinical trial for brain cancer

Commercialization strategy is to license REOLYSIN prior to start of Phase III clinical trials. Potential partners include Pfizer, AstraZenecca, Bristol-Myers Squibb, Johnson & Johnson, Schering-Plough, Amgen, and many others in the cancer field

Targeting large cancer markets with unmet needs. Phase I trials have shown no side effects related to REOLYSIN, and has demonstrated preliminary evidence of efficacy

Initiating coverage with a SPECULATIVE BUY recommendation and a 12-month target of $7.00"
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