The Life Sciences Report

Oncolytics Biotech Inc. TICKER: ONCY:NASDAQ; ONC:TSX Oncolytics Biotech Inc. is a biotechnology company focused on the development of oncolytic viruses as potential therapeutics for use in a broad range of cancers. The company is conducting clinical studies using Reolysin, its proprietary formulation of the human reovirus, in some of the most prevalent forms of the disease including lung, colorectal and pancreatic cancers. Oncolytics' clinical program includes a number of human trials at a variety of stages including a phase 3 trial in head and neck cancers. The company has advanced its product manufacturing and intellectual property initiatives parallel to its clinical development program to support development of a commercial product.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

Neil Maruoka, Canaccord Genuity (5/9/13) "Based on recent evidence of efficacy for Reolysin, we would be buyers of Oncolytics Biotech Inc. stock in anticipation of more impactful data from the head and neck trial and the phase 2 study in pancreatic cancer, both expected within the next six months. . .the company is cashed up: It ended the quarter with cash and equivalents of $43.5M. We believe this represents almost 18 months of cash at projected burn."

Philippa Flint, Bloom Burton & Co. (5/9/13) "Oncolytics Biotech Inc.'s Reolysin phase 3 head and neck survival data are now expected in H2/13. . .at that time, we believe we may see data on the primary endpoint of survival, but also we expect to see progression free survival and tumor response. . .the company recently raised net proceeds of $30.2M, enabling it to carry on operations regardless of the outcome of the phase 3 study."

Douglas Loe, Byron Capital Markets (3/28/13) "Signals on disease stabilization are still strong for Oncolytics Biotech Inc.'s Reolysin in an ongoing open-label lung cancer trial. . .the company provided another interim analysis of its ongoing 55-patient phase 1/2 open-label advanced squamous cell lung cancer trial showing a disease control rate (adding together all patients exhibiting complete tumor response, partial tumor response, and those with stable disease) of 86% in 21 evaluable subjects. . .the data is thus highly similar to prior analyses, differing mostly by observing that Reolysin responsiveness was sustained beyond earlier time points. . .we maintain our Speculative Buy rating and $8 target price."

Douglas Loe, Byron Capital Markets (3/22/13) "Highly validating for oncolytic viruses in general, and thus for Oncolytics Biotech Inc.'s Reolysin specifically, are positive OncoVex efficacy data from a well-controlled phase 3 human study. . .Oncolytics Biotech is targeting melanoma with its own virus therapy, Reolysin, in one of its several ongoing phase 1/2 cancer trials (some melanomas exhibit activated Ras), and a 43 patient, open label melanoma study could generate objective response rate data this year or next."

Philippa Flint, Bloom Burton & Co. (3/20/13) "We believe the key studies for Oncolytics Biotech Inc.'s Reolysin, for which we expect data this year, are the two randomized, controlled studies being performed, the phase 3 head and neck cancer study and the phase 2 pancreatic cancer study. . .we continue to advise caution as the company gets closer to the announcement of data and we do not believe the Amgen results can be used as a proxy for the chance of success of oncolytic virus treatment."

Oncolytics Biotech Inc. Content

Corporate Presentation (5/17/13)

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