ONCOLYTICS BIOTECH Business Summary

Oncolytics Biotech Inc. (ONCY) is a clinical-stage biopharmaceutical company that operates through a research-and-licensing business model, focusing on the development of its lead candidate, pelareorep. The company generates value by advancing its proprietary oncolytic virus through clinical milestones to secure future licensing agreements, milestone payments, and royalties from global pharmaceutical partners. Its primary business segments are organized by oncology indications, specifically targeting gastrointestinal (GI) malignancies—including colorectal, anal, and pancreatic cancers—and HR+/HER2- metastatic breast cancer. As of March 2026, the company is prioritizing registration-enabling programs, bolstered by recent FDA Fast Track designations and positive Phase 2 data from its GOBLET and BRACELET-1 trials. In the competitive landscape, Oncolytics competes with firms like Genelux, Rocket Pharmaceuticals, and Kite Pharma, positioning itself as a leader in systemic, intravenously delivered immunotherapies that enhance the efficacy of checkpoint inhibitors and traditional chemotherapies. Founded in 1998 by Dr. Brad Thompson and Dr. Matt Coffey based on University of Calgary discoveries, the company is currently managed by a high-pedigree executive team. CEO Jared Kelly, appointed in June 2025, brings a track record of transformative M&A, having previously orchestrated the $2 billion sale of Ambrx Biopharma to Johnson & Johnson. The leadership includes CFO Kirk Look, CMO Dr. Thomas C. Heineman, and CTO Allison Hagerman, alongside 2026 appointee John McAdory, who serves as EVP of Strategy and Operations following his tenure at CG Oncology. The board is led by Chairman Wayne Pisano, former President of Sanofi Pasteur, and includes directors with deep regulatory and commercial expertise. Notable institutional investors such as Citadel Advisors, Virtu Financial, and RBC Capital Markets maintain significant stakes, signaling confidence in the company’s transition toward pivotal trials and regulatory submission.