UPDATE: Stifel Nicolaus Initiates Oncolytics Ciotech at Buy with $6 PT on Reolysin Cancer Focus
Stifel Nicolaus initiated its coverage on Oncolytics Ciotech (NASDAQ: ONCY) with a Buy rating and a price target of $6 a share.
Stifel Nicolaus commented, "We view ONCY's sole clinical candidate Reolysin as a compelling potential treatment for ~60% of cancers. Reolysin is a specific strain of a naturally occurring virus that only replicates in cancer cells with an activated Ras signaling pathway, a key metabolic pathway in cell metabolism that is mutated in over 60% of all carcinomas. Reolysin has demonstrated compelling efficacy in numerous oncology indications and as a live virus Reolysin's main side effect is "viral syndrome", not the typical side effects of chemotherapy."
Oncolytics Ciotech closed at $2.76 on Wednesday.
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