Oncolytics Biotech Inc said the first part of a mid-stage trial of its lung cancer drug met the main goal of showing patient response.
The U.S. mid-stage trial, which is divided into two parts, is testing Oncolytics's Reolysin in combination with chemotherapy drugs carboplatin and paclitaxel on patients with squamous cell carcinoma of the lung.
Lung cancer is the biggest cancer killer and squamous cell carcinomas accounts for 25 percent to 30 percent of all lung cancers, according to the American Cancer Society.
Oncolytics said it is proceeding with the second stage of the study.
The company on Wednesday said it doubled enrollment in a late-stage head and lung cancer drug study, raising concerns of a likely delay.
Oncolytics shares closed at C$2.40 on the Toronto Stock Exchange on Wednesday, after touching a nearly two-year low.
(Reporting by Bhaswati Mukhopadhyay in Bangalore)