Cancer drug developer Oncolytics Biotech Inc. reported late Wednesday its second-quarter loss widened slightly as operating expenses increased.
The Calgary company said its loss widened to $2.99 million from $2.95 million last year. Operating expenses rose to $905,093 from $769,51l, while stock-based compensation expenses increased to $222,376 from $8,404.
"Oncolytics made significant progress with its clinical strategy in the second quarter, announcing positive results, completing trials and preparing to initiate new trials," said Dr. Brad Thompson, president and CEO of the company. "Looking ahead, we intend to initiate enrolment in our Phase II program in the second half of 2006."
Oncolytics Biotech is a development stage company focused on development of Reolysin, a potential cancer drug.
The Calgary company said its loss widened to $2.99 million from $2.95 million last year. Operating expenses rose to $905,093 from $769,51l, while stock-based compensation expenses increased to $222,376 from $8,404.
"Oncolytics made significant progress with its clinical strategy in the second quarter, announcing positive results, completing trials and preparing to initiate new trials," said Dr. Brad Thompson, president and CEO of the company. "Looking ahead, we intend to initiate enrolment in our Phase II program in the second half of 2006."
Oncolytics Biotech is a development stage company focused on development of Reolysin, a potential cancer drug.
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