Oncolytics Biotech Inc.

09:20 AM EST - Oncolytics Biotech Inc. : Announced its financial results and development highlights for the quarter ended March 31, 2021. All dollar amounts are expressed in Canadian currency unless otherwise noted. As of March 31, 2021, the Company reported $50.4 million in cash and cash equivalents. The Company raised gross proceeds of $25.8 million during the first quarter through issuing of common stock through its ATM facility. Operating expense for the first quarter of 2021 was $3.1 million, compared to $3.0 million in the first quarter of 2020. The net loss for the first quarter of 2021 was $6.4 million, compared to a net income of $0.4 million in the first quarter of 2020, which reflected a $4.2 million non-cash gain in fair value of warrant derivative. The basic and diluted loss per share was $0.13 in the first quarter of 2021, compared to a basic earnings and diluted loss per share of $0.01 and $0.04, respectively, in the first quarter of 2020. Oncolytics Biotech Inc. shares T.ONC are trading unchanged at $3.57.

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