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Oncolytics Biotech® Outlines Strategic Rationale for Proposal to Change Jurisdiction of Incorporation to Nevada

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SAN DIEGO, Jan. 09, 2026 (GLOBE NEWSWIRE) -- Oncolytics Biotech® Inc. (Nasdaq: ONCY) (“Oncolytics” o...

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AI Summary

Oncolytics plans to change incorporation from Canada to Nevada for strategic growth. This move focuses on simplifying regulations and improving capital access. Shareholder vote for this proposal scheduled for January 15, 2026. Pelareorep shows promising results in cancer trials and has FDA Fast Track designation. Nevada offers favorable conditions for biotech, enhancing future opportunities.

Sentiment Rationale

The jurisdiction change reflects strategic growth, similarly executed by other biotech firms historically, enhancing capital access and operational efficiency, which typically boosts investor confidence.

Trading Thesis

The operational shift to the U.S. could yield significant long-term benefits, enhancing market positioning and fostering potential partnerships, similar to other biotech transitions that spurred growth.

Market-Moving

  • Oncolytics plans to change incorporation from Canada to Nevada for strategic growth.
  • This move focuses on simplifying regulations and improving capital access.
  • Shareholder vote for this proposal scheduled for January 15, 2026.

Key Facts

  • Oncolytics plans to change incorporation from Canada to Nevada for strategic growth.
  • This move focuses on simplifying regulations and improving capital access.
  • Shareholder vote for this proposal scheduled for January 15, 2026.
  • Pelareorep shows promising results in cancer trials and has FDA Fast Track designation.
  • Nevada offers favorable conditions for biotech, enhancing future opportunities.

Companies Mentioned

  • ABT (ABT)
  • REGN (REGN)
  • RGEN (RGEN)

Corporate Developments

The article outlines a significant strategic shift for Oncolytics, directly impacting its operational focus and potential for growth, making it highly relevant for investors.

Oncolytics Biotech® Proposes Jurisdiction Change to Nevada

Oncolytics Biotech Inc. (Nasdaq: ONCY), a clinical-stage immunotherapy company focused on oncology, has announced its proposal to transition its jurisdiction of incorporation from Alberta, Canada, to the State of Nevada, U.S. This strategic decision aims to align with Oncolytics' growth goals in the U.S. market and enhance its operational efficiency.

Strategic Rationale Behind the Proposal

As Oncolytics evolves into a U.S.-focused clinical-stage oncology company, the shift to Nevada is intended to simplify its regulatory structure and improve access to U.S. capital markets. Jared Kelly, CEO of Oncolytics, commented, “We are a U.S.-focused oncology company with U.S.-based leadership, operations, and investors. This move simplifies our structure and enhances our capacity for future strategic opportunities, including partnerships and potential mergers and acquisitions.”

Background and Current Circumstances

Over recent years, Oncolytics has seen a significant shift in its operations, becoming predominantly U.S.-based. As of January 1, 2026, the Company is recognized as a domestic issuer under the U.S. Securities and Exchange Commission (SEC) regulations. This change led to increased regulatory complexities without added benefits, prompting management to reconsider its corporate domicile.

  • Majority U.S.-based operations and management.
  • Transition to domestic issuer status under SEC rules as of January 1, 2026.
  • Objective: Enhance operational efficiency and access to capital markets.

Details of the Proposal and Shareholder Approval

The proposal to domesticate to Nevada is contingent upon shareholder approval. Shareholders of Oncolytics, as of December 9, 2025, will participate in a vote during a special meeting scheduled for January 15, 2026. This meeting will also address other transactions related to the jurisdiction change.

About Oncolytics Biotech Inc.

Oncolytics is currently developing pelareorep, an investigational RNA immunotherapeutic agent designed to induce anti-cancer immune responses. The agent has shown promising results in clinical studies targeting various types of cancer, including:

  • First-line pancreatic cancer
  • Metastatic breast cancer
  • Anal and colorectal cancer

Pelareorep is under development in combination with chemotherapy and checkpoint inhibitors and has received Fast Track Designation from the FDA for metastatic pancreatic and breast cancers.

Investors and Additional Information

Oncolytics has filed a registration statement with the SEC regarding the proposed domestication. Shareholders are urged to review the definitive management circular/prospectus for critical information about the transaction. These documents can be accessed through the SEC website and Oncolytics' corporate site.

Forward-Looking Statements

This press release includes forward-looking statements related to Oncolytics’ future plans, including the proposed change of its jurisdiction. Investors should be aware of potential risks and uncertainties that may impact these forecasts.

For more information about Oncolytics and its proposed changes, visit www.oncolyticsbiotech.com or follow ONCY on social media.

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