Stock Futures Modestly Higher as Tech Stocks Gain
Stock futures are modestly higher, building on late-week momentum in technology and semiconductor stocks despite a choppy lead-in to this week.The market's more upbeat tone comes against a backdrop of thin volumes typical for mid-January and mixed macro signals. Although major U.S. benchmarks were on track for slight weekly declines after Monday's records, the strength in tech and AI-linked equities has underpinned broader risk appetite.International markets are mixed, with European equities showing modest gains as global sentiment holds near record highs, while several Asian indexes reflect uneven performance after China tightened market oversight and Japan's benchmark slipped. Oil prices have eased after the chance of a U.S. strike on Iran receded, tempering energy sector pressure, while gold dipped on stronger U.S. data boosting the dollar and reducing near-term rate-cut bets.In pre-market trading, S&P 500 futures rose 0.14%, Nasdaq futures rose 0.47% and Dow futures rose 0.01%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -ImmunityBioup 10% after announcing updated efficacy and safety results from the ongoing QUILT-106 clinical study evaluating an off-the-shelf allogeneic CD19 chimeric antigen receptor natural killer cell therapyUP AFTER EARNINGS -PNC Financialup 4%Citizens Financialup 1%DOWN AFTER EARNINGS -State Streetdown 3%Regions Financialdown 2%M&T Bankdown 1%LOWER -QXOdown 6% after a 31.6M share secondary offering priced at $23.80Mosaicdown 4% after announcing that the challenging market environment significantly impacted its fourth quarter performance
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Oncolytics Biotech Strengthens Leadership Amid Oncology Market Surge
- Executive Appointments: Oncolytics Biotech has appointed John McAdory as Executive Vice President of Strategy and Operations and Yujun Wu as Vice President, Head of Biostatistics, both bringing extensive experience in late-stage oncology trial execution and regulatory strategy to advance the company's registration-directed programs in gastrointestinal cancers.
- Clinical Data Breakthrough: The company reported that pelareorep achieved a 33% objective response rate in second-line KRAS-mutant microsatellite stable metastatic colorectal cancer patients when combined with standard chemotherapy, tripling the historical response rate of 6-11%, demonstrating significant efficacy in this difficult-to-treat population.
- FDA Alignment Success: Oncolytics has secured FDA alignment on its Phase 3 study design for pelareorep in first-line metastatic pancreatic cancer, positioning it to launch the only immunotherapy registration trial currently planned for this challenging therapeutic area, further solidifying its market position.
- Strategic Expansion: The company has also expanded its Scientific Advisory Board with globally recognized experts from Memorial Sloan Kettering Cancer Center and MD Anderson Cancer Center, aiming to accelerate clinical development across multiple indications and enhance overall R&D capabilities.
Oncolytics Biotech Strengthens Leadership to Advance Clinical Programs
- Leadership Enhancement: Oncolytics Biotech has appointed John McAdory as Executive Vice President of Strategy and Operations and Yujun Wu as Vice President, Head of Biostatistics, both bringing extensive experience in late-stage oncology trial execution and regulatory strategy to advance the company's registration-directed programs in gastrointestinal cancers.
- Breakthrough Efficacy Data: The company reported that pelareorep achieved a 33% objective response rate in second-line KRAS-mutant microsatellite stable metastatic colorectal cancer patients when combined with standard chemotherapy, significantly surpassing the historical 6-11% response rate, indicating its potential in difficult-to-treat patient populations.
- FDA Designation Approval: Oncolytics secured FDA alignment on its Phase 3 study design for pelareorep in first-line metastatic pancreatic cancer, marking the initiation of the only immunotherapy registration trial planned for this challenging area, further solidifying its market position.
- Advisory Board Expansion: The company has expanded its Scientific Advisory Board by adding globally recognized experts from Memorial Sloan Kettering Cancer Center and MD Anderson Cancer Center, laying the groundwork for accelerated clinical development across multiple indications.
