Oncolytics Biotech Announces $75 Million At-the-Market Equity Offering Program for Pelareorep Development

On April 6, 2026, Oncolytics Biotech Inc. entered into an Open Market Sale Agreement with Jefferies LLC to establish an 'at the market' (ATM) equity offering program. Under the terms of the agreement, the company may offer and sell shares of its common stock having an aggregate offering price of up to $75.0 million. Jefferies will act as the sales agent, receiving a commission of up to 3.0% of the gross proceeds from any shares sold. Oncolytics is not obligated to sell any shares under this agreement and may instruct the agent on specific parameters such as price and timing. The company intends to utilize the net proceeds from any sales to fund the clinical development of its lead candidate, pelareorep, as well as for associated research and development expenses, operating costs, and general working capital. The shares will be issued under a shelf registration statement on Form S-3 that became effective on April 3, 2026.