12:22 PM EST - Oncolytics Biotech Inc. : Announced its financial results and operational highlights for the quarter and year ended December 31, 2019. As at December 31, 2019, the company reported $14.1 million in cash and cash equivalents. Operating expense for the fourth quarter of 2019 was $4.1 million and $9.6 million for the year 2019, compared to $2.4 million in the fourth quarter 2018 and $7.2 million for the year 2018. "As we implemented our focused clinical development and investor relations strategies during 2019, our market valuation and trading volume experienced significant increases," said Kirk Look, Chief Financial Officer at Oncolytics. "Since the middle of the fourth quarter and into 2020, we have leveraged multiple prudent and effective financing strategies, while maintaining trading volume and share price. As of today, with cash of $29.7 million, our financial runway takes us to the middle of 2021, fully funding our 2020 program and a considerable set of catalysts, including multiple clinical data announcements." Oncolytics Biotech Inc.
shares T.ONC are trading off 14.03 percent at $2.38.
