Oncolytics Biotech (ONCY) said Monday that initial results from a preclinical study assessing pelareorep plus RAS inhibitor modalities in a solid tumor model showed evidence of the combination's greater anti-tumor activity than with the individual approaches alone.

The company said that, based on the results, it is planning further studies in models of pancreatic ductal adenocarcinoma and colorectal cancer to further assess the combinations' anti-tumor and immune effects.

Full results from the initial preclinical studies are slated to be presented in the fall or winter of this year, Oncolytics said.

The company's shares were up more than 8% in Monday premarket trading.