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

Core Viewpoint - Oncolytics Biotech Inc. is proposing to change its jurisdiction of incorporation from Alberta, Canada, to the State of Nevada, aiming to align its corporate structure with its U.S.-focused operations and enhance access to U.S. capital markets [1][3][5]. Group 1: Strategic and Operational Reasons - The company emphasizes the importance of communicating the strategic and operational reasons for the proposed change, as it transitions into a U.S.-focused clinical-stage oncology company [2]. - Over recent years, Oncolytics' operations, management, shareholder base, and capital markets activities have predominantly shifted to the U.S. [3]. - As of January 1, 2026, Oncolytics became a domestic issuer under SEC rules, losing its status as a "foreign private issuer," which increased regulatory complexity without corresponding benefits [3]. Group 2: Benefits of the Proposed Change - The proposed domestication to Nevada aims to simplify regulatory structure, improve operational efficiency, and enhance access to U.S. capital markets [4]. - Nevada was selected for its favorable corporate environment and flexible corporate laws, which are seen as beneficial for biotech companies [4]. - The CEO of Oncolytics stated that this move reflects the company's current focus and future direction, simplifying structure and improving access to capital markets for strategic opportunities, including partnerships and potential M&A activity [5]. Group 3: Shareholder Approval and Meeting - The proposed change is subject to shareholder approval, with a special meeting scheduled for January 15, 2026, where shareholders will vote on the jurisdiction change and other related transactions [5]. - Shareholders of record as of December 9, 2025, will be eligible to vote on the proposal [5]. Group 4: Company Overview and Product Development - Oncolytics is a clinical-stage biotechnology company developing pelareorep, an investigational immunotherapeutic agent that has shown promising results in various cancer studies [6]. - The company is advancing pelareorep in combination with chemotherapy and/or checkpoint inhibitors for metastatic pancreatic and breast cancers, both of which have received Fast Track designation from the FDA [7]. - Oncolytics is actively pursuing strategic partnerships to accelerate development and maximize commercial impact [7].