ONCOLYTICS BIOTECH INC 8-K

What Happened
On April 6, 2026, Oncolytics Biotech Inc. (ONCY) announced it entered into an Open Market Sale Agreement with Jefferies LLC under which the company may offer and sell, from time to time, up to $75.0 million aggregate offering price of its common stock in an “at-the-market” offering. The offering will be made pursuant to the company’s Form S‑3 shelf registration (File No. 333-294811), declared effective April 3, 2026, and a prospectus supplement filed April 6, 2026. The company is not obligated to sell any shares under the agreement.

Key Details

• Maximum offering size: up to $75.0 million of common stock.
• Sales agent: Jefferies LLC; commission up to 3.0% of gross proceeds.
• Offering type: at-the-market offering under Rule 415(a)(4).
• Use of proceeds: fund clinical development of pelareorep and related R&D, operating costs, working capital and general corporate purposes.
• Agreement terms: customary representations, indemnities and expense reimbursement; either party may terminate with ten trading days’ notice.

Why It Matters
This gives Oncolytics a flexible way to raise capital as needed without a fixed secondary offering, which can help fund its clinical programs (specifically pelareorep) and ongoing operations. For investors, an ATM facility can lead to dilution if the company sells shares, but it also reduces the risk of cash shortfalls that could impact development timelines. The 3% selling commission and customary expense reimbursements are typical and disclosed in the filing.