Oncorus, Inc. (ONCR) stock slide a further 5.13% in the aftermarket, at $5.36 on a mild volume of 15.74K shares on December 03. The stock had already lost 2.75% in the prior trading session, closing at $5.65. Intraday trading, the stock varied between $5.37 and $5.80 at the below-average volume of 161.98K shares. There seems to be no driving factor involved in the stock’s recent up and downs, other than stock sentiments and unimpressed investors.
ONCR and its Recent Movements
Founded in 2015, Oncorus, Inc. is a company working on viral immunotherapies platform research and development. The Cambridge, MA-based company has a current market capitalization of $145.82 million with 25.81 million outstanding shares.
ONCR stock has been on a roller coaster ride recently, achieving no big gain and trading near its 52-week low. In the past five trading sessions, the stock had a mild gain of 1.44%, while it has lost 51.00% in the past month. Moreover, the stock has lost a value of 82.52% year to date.
The stock reached its 52-week low of $5.29 on November 17, soon after the company announced initial data from the Phase 1 trial of ONCR-177. The data was shared with the public on November 12, but it did not meet the investors’ expectations. Since then the stock has been trading towards the lower spectrum of its 52-week range.
Initial Data from ONCR-177 Study
The company presented its ONC-177 Phase 1 on-going trial’s initial data at SITIC (Society for Immunotherapy of Cancer) 36th Annual Meeting on November 12. According to the data, only three out of eight heavily pretreated cancer patients indicated clinical benefit after two doses of the treatment. Moreover, the ONC-177 is a Herpes Simplex Virus (HSV) lead product candidate of ONCR, for multiple solid tumor indications.
The company announced its initial trial finding as positive and plans to enroll further patients in its upcoming cohorts. Additional data from the trial’s advanced parts are expected to be released in min 2022.
Financial Updates
On November 3, Oncorus, Inc. (ONCR) disclosed its financial updates for the third quarter of 2021, which ended September 30.
According to the third quarter of 2021, ONCR incurred a net loss of $16.7 million against $22.4 million in Q3 of 2020. Consequently, the net loss per share for the Q3 of 2021, was $0.65, against $21.73 per share in the year-ago period.
Moreover, ONCR ended the third quarter of 2021, with cash and cash equivalents of $145.6 million.
