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Oncolytics launches common stock offering, plans Nasdaq listing

Canada's Oncolytics Biotech Inc. said it launched a registered underwritten public offering of common shares in the U.S.

The biotechnology company applied to list its shares on the Nasdaq Capital Market under the symbol ONCY, and is expected to start trading once the offering is priced.

Oncolytics plans to give the underwriter a 30-day overallotment option to buy additional shares.

Net proceeds will go toward research and development activities, as well as working capital purposes.

The offering remains subject to Nasdaq and TSX approvals, as well as market conditions.