USA News Group
Commentary
Issued on behalf of Oncolytics Biotech
Inc.
VANCOUVER, BC, June 19, 2024 /PRNewswire/ -- USA News Group – This year's 2024 Annual
Meeting of the American Society of Clinical Oncology (ASCO)
has now come and gone, but not without increasing hope for cancer
patients around the world. This year's ASCO 2024 theme was
'The Art and Science of Cancer Care: From comfort to cure,' with
attendees hearing presentations from experts and receiving a wide
range of important clinical results for the first time. According
to analysts at Spherical Insights, the Global Oncology Drugs
Market is projected to be worth $564.5
billion by 2033, growing at a CAGR of 11.5%. Because a new
drug typically might take 10-15 years to complete all 3 phases of
clinical trials, the developments of today directly impact the
results of tomorrow. This is why retail investors are wise to pay
attention to the milestones and data shared by this year's
ASCO attendees, which included Oncolytics Biotech
Inc. (NASDAQ: ONCY) (TSX: ONC), AbbVie Inc. (NYSE:
ABBV), AstraZeneca PLC (NASDAQ: AZN), Pfizer Inc.
(NYSE: PFE), and Bristol-Myers Squibb Company (NYSE:
BMY).
Updating the audience for its flagship novel immunotherapy,
pelareorep, Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX:
ONC) presented two abstracts demonstrating further potential for
the intravenously delivered immunotherapeutic agent in pancreatic
cancer and its immunotherapeutic mechanism of action across
multiple cancer indications.
Oncolytics' first abstract presented was for a
trial-in-progress of cohort 5 of the company's GOBLET study,
evaluating the effectiveness of combining pelareorep and modified
FOLFIRINOX (mFOLFIRINOX) with and without Roche's
atezolizumab (Tecentriq®) in newly diagnosed patients with
metastatic pancreatic ductal adenocarcinoma (PDAC).
"The first abstract outlines the design of a new GOBLET PDAC
cohort that could significantly expand the potential of the
company's pancreatic cancer program," said Dr. Matt Coffey, President and CEO of
Oncolytics. "The chemotherapy regimens of mFOLFIRINOX and
gemcitabine/nab-paclitaxel are the two most common standards of
care in metastatic pancreatic cancer. We previously reported that
the combination of pelareorep, gemcitabine, nab-paclitaxel, and
atezolizumab yielded tumor response rates nearly triple historical
results. Should the combination of pelareorep and mFOLFIRINOX
produce a similarly positive outcome, an even broader range of
metastatic PDAC patients may benefit from pelareorep-based
therapy."
Funded by a US$5 million
Therapeutic Accelerator Award grant from the Pancreatic Cancer
Action Network (PanCAN), Oncolytics Biotech plans to
start enrolling patients this quarter following regulatory
clearance received in May.
The GOBLET cohort 5 abstract and poster detail a study assessing
innovative treatments for patients newly diagnosed with metastatic
PDAC. Utilizing a Simon two-stage design, the study aims to
determine if the treatments are promising enough for further
investigation. Initially, 15 patients per treatment arm will be
randomly assigned to receive either pelareorep with mFOLFIRINOX or
pelareorep with mFOLFIRINOX and atezolizumab.
The study's primary goals include evaluating the effectiveness
and safety of these treatments. Researchers will measure
progression-free survival (the length of time patients live without
the cancer worsening), overall survival (the total length of time
patients live), and biomarkers (biological indicators of treatment
response). Should the first stage yield positive results, one or
both treatment groups may progress to the second stage, which will
involve an additional 17 patients per arm.
Throughout the study, blood and tumor samples will be collected
for in-depth analysis. This approach aims to provide a
comprehensive understanding of how the treatments impact patient
outcomes and pave the way for potential future advancements in PDAC
therapy.
Among the big pharma contenders that presented at ASCO
2024 was AbbVie Inc. (NYSE: ABBV), which took the
opportunity at the meeting to showcase its robust solid tumor
pipeline, with new data from its innovative antibody-drug conjugate
(ADC) platform. AbbVie's ADCs are designed to target unique
protein biomarkers such as c-Met (MET protein) and SEZ6
(seizure-related homolog 6 protein), which are over-expressed
across various tumor types. The biotech giant states that by
utilizing these biomarkers as targets, ADCs are designed to deliver
potent cancer cell death-inducing agents called 'payloads' to the
tumor.
"Building upon our strong commitment to patients and existing
leadership in hematological malignancies, we are rapidly advancing
a differentiated pipeline in solid tumors," said Daejin Abidoye, M.D., Vice President, Head of
Solid Tumors, Oncology Development, for AbbVie. "Our ADC
platform allows us to utilize selected biomarkers such as c-Met and
SEZ6 to induce targeted cancer cell death by delivering potent
anti-cancer agents."
At the meeting, Abbvie presented positive Phase I and II
trial data for three ADC therapies, Teliso-V, ABBV-400 and
ABBV-706, in solid tumour patients—with Teliso-V being the
company's most advanced c-Met targeted ADC in development.
The LUMINOSITY study enrolled 172 patients with c-Met protein
overexpression and epidermal growth factor receptor wild type,
advanced/metastatic non-squamous NSCLC. The Teliso-V results showed
a mean overall response rate (ORR) of 28.6%, with ORRs of 34.6% in
c-Met high patients and 22.9% in c-Met intermediate patients. The
therapy demonstrated a median duration of response (DOR) of 9
months in c-Met high patients and 7.2 months in c-Met intermediate
patients.
Another ADC gaining attention was Enhertu, developed by British
multinational AstraZeneca PLC (NASDAQ: AZN) and Japanese
multinational Daiichi Sankyo. In a clinical trial, Enhertu
reduced the risk of breast cancer progression by 37% compared to
chemotherapy in patients who are HER2-positive, HER2-low, and
HER2-ultralow.
"DESTINY-Breast06 represents another potential paradigm shift in
how we treat patients across the spectrum of HR-positive metastatic
breast cancer," said Susan
Galbraith, Executive Vice President, Oncology R&D, of
AstraZeneca. "The results reinforce the potential for
Enhertu to improve outcomes earlier in the treatment landscape and
in a broader population of patients with HER2-expressing breast
cancer who have never before been eligible for a HER2-directed
therapy."
AstraZeneca achieved multiple successes at ASCO this
year. Among the highlights was the impressive performance of
Tagrisso in a phase 3 lung cancer trial. The kinase inhibitor
significantly reduced the risk of disease progression by 84%
compared to the placebo.
"Tagrisso extended progression-free survival by more than three
years in this potentially curative setting, reinforcing the need to
test and diagnose patients early," said Galbraith. "These
practice-changing data cement the powerful impact Tagrisso can make
as backbone therapy in EGFR-mutated lung cancer, especially in the
lives of these patients who have historically experienced early
progression following chemoradiotherapy."
Another highlight at ASCO 2024 came from Pfizer
Inc.'s (NYSE: PFE) phase 3 clinical trial results for Lorbrena,
a drug approved by the U.S. Food and Drug Administration
(FDA) for non-small cell lung cancer (NSCLC) in 2021. The
five-year follow-up of patients with the ALK mutation showed that
Lorbrena reduced the risk of disease progression by 81% compared to
Xalkori, a recognized first-line treatment for NSCLC.
Lorbrena's readout was among the most impressive at ASCO
as 60% of the patients showed a five-year progression-free
survival.
"These results from the CROWN trial are unprecedented, as the
majority of patients on LORBRENA are living beyond five years
without disease progression," said Roger
Dansey, M.D., Chief Development Officer, Oncology,
Pfizer. "These results are an excellent example of
Pfizer's long-standing commitment to discovering and
developing scientific breakthroughs for patients, and support
LORBRENA as a standard of care for the first-line treatment of
people with ALK-positive advanced NSCLC."
Another class of drugs that garnered attention at ASCO
2024 was KRAS inhibitors. However, the trial results from
Bristol-Myers Squibb Company (BMS) (NYSE: BMY) and
Amgen each experienced challenges. Although KRAS mutations
are common in non-small cell lung cancer (NSCLC), and despite the
drug being granted accelerated approval by the FDA in 2022,
BMS's Krazati underperformed when looking at median
progression-free survival, even though it reduced tumor progression
risk by 42%.
Krazati's median progression-free survival (PFS) – the period
during which a patient's condition remains stable after treatment –
extended beyond chemotherapy by 1.7 months in a confirmatory
study.
"The accelerated approval of KRAZATI from the FDA in 2022
was welcome news for patients with KRASG12C-mutated locally
advanced or metastatic NSCLC," said Abderrahim Oukessou, M.D., Vice
President, Global Program Lead, KRAZATI, Bristol Myers Squibb. "These confirmatory results
further support KRAZATI as an efficacious, targeted treatment
option for these patients. We look forward to further sharing these
results, while also continuing to evaluate KRAZATI in other
advanced KRASG12C-mutated solid tumors."
Article Source:
https://usanewsgroup.com/2023/10/02/the-most-undervalued-oncolytics-company-on-the-nasdaq/
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