Street Calls of the Week
SAN DIEGO - Oncolytics Biotech Inc. (NASDAQ:ONCY) announced Friday it will voluntarily delist its common shares from the Toronto Stock Exchange (TSX) effective August 22, 2025, while maintaining its Nasdaq listing. The company has demonstrated strong market performance, with shares delivering a 61.49% return year-to-date and trading near its 52-week high of $313.29.
The clinical-stage immunotherapy company, which is developing the cancer treatment pelareorep, made the decision after determining that maintaining a dual listing no longer justified the associated costs given the company’s increasing U.S. focus. With a market capitalization of $32.82 billion, Oncolytics has caught the attention of analysts, with InvestingPro data showing 5 analysts recently revising their earnings expectations upward for the upcoming period.
According to the company’s statement, several factors influenced the decision, including that Oncolytics will cease being treated as a Foreign Private Issuer under U.S. federal securities laws effective January 1, 2026, and is considering relocating its domicile to the United States. While currently not profitable, InvestingPro analysis indicates net income is expected to grow this year, with analysts projecting profitability in 2025. Get access to 10+ additional exclusive ProTips and comprehensive financial metrics with an InvestingPro subscription.
Following the delisting, Oncolytics shares will continue trading on Nasdaq under the symbol "ONCY." The company noted that Canadian shareholders will still be able to trade their shares on Nasdaq through brokers with U.S.-registered broker-dealer affiliates.
Oncolytics confirmed it will remain a reporting issuer in Canadian provinces and territories. Shareholder approval for the delisting was not required under TSX rules since the company’s shares are listed on Nasdaq, which is considered an acceptable alternative market.
Pelareorep, the company’s main therapeutic candidate, has shown promising results in pancreatic and breast cancer studies, with both indications receiving Fast Track designation from the FDA, according to the press release statement.
In other recent news, BeOne Medicines Ltd. announced its second-quarter financial results, revealing that revenue surpassed analyst expectations. However, the company’s earnings did not meet the projected estimates. These recent developments were reported from San Carlos, California. Despite the mixed financial performance, the company’s revenue figures were a positive highlight for investors. The earnings shortfall, however, remains a point of concern. The stock showed a slight decline in pre-market trading, although specific price movements were not detailed. Analysts and investors will likely be monitoring future announcements from BeOne Medicines closely.
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