Oncolytics Biotech Inc. reported a net loss of $6.165 million, or $0.07 per share, for the second quarter of 2025, an improvement from a net loss of $7.256 million, or $0.10 per share, in Q2 2024. For the six months ended June 30, 2025, the net loss was $12.852 million, compared to $14.150 million in the same period of the prior year. Research and development expenses for Q2 2025 were $2.809 million, down from $4.558 million in Q2 2024.
As of June 30, 2025, the company's cash and cash equivalents totaled $14.626 million. In a significant strategic move, Oncolytics announced its intention to terminate its At-the-Market (ATM) financing facility with Cantor Fitzgerald and its Equity Line of Credit (ELOC) with Alumni Capital. The company believes it possesses sufficient capital to reach critical regulatory and clinical milestones this fall without the need for near-term dilutive financings.
Operationally, Oncolytics is prioritizing a registration-enabling pivotal study for pelareorep in first-line metastatic pancreatic ductal adenocarcinoma (mPDAC), with discussions underway with regulators to finalize the approval pathway. The company also highlighted translational data from the ASCO Annual Meeting, further elucidating pelareorep's mechanism of action in priming the tumor microenvironment. Additionally, the company gave formal notice to delist from the Toronto Stock Exchange, with shares continuing to trade on Nasdaq.
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