Oncolytics Lung Cancer Drug Shrinks Tumors in 92% of Patients in Study

Oncolytics Biotech (NASDAQ:ONCY) said Monday its experimental drug Reolysin shrunk lung cancer tumors in 92% of patients in a mid-stage study.

On average, tumors were reduced by 32.7%.

The Canadian pharmaceutical company focused on developing treatments to cancer and other viruses said the drug’s success was recorded in patients with metastatic stage III, IV or recurrent squamous cell carcinoma of the lung.

"Squamous cell carcinoma of the lung is notoriously difficult to treat, and these results support further investigation of Reolysin in randomized clinical trials for this indication," Oncolytics CEO Brad Thompson said in a statement.

Reolysin was used in combination with chemotherapy drugs carboplatin and paclitaxel. Oncolytics will report final progression-free survival and safety data for the study later in 2013.

Shares of the small-cap company climbed more than 9% to $2.90 in pre-market trade.