Oncolytics Biotech® Appoints John McAdory as EVP of Strategy and Operations and Yujun Wu to Lead Biostatistics

Rhea-AI Summary

Oncolytics (Nasdaq: ONCY) announced on Jan 14, 2026 the appointments of John McAdory as Executive Vice President, Strategy and Operations and Yujun Wu as Vice President, Head of Biostatistics to support late‑stage, registration‑directed development of pelareorep in pancreatic, colorectal, and anal cancers.

The company granted inducement awards: McAdory — 500,000 stock options (exercise price $0.97) plus 300,000 restricted share units that vest on a material transaction; Wu — 300,000 stock options (exercise price $0.97). Options vest 50% at one year, then 25% annually.

News Market Reaction

+5.00% 1.7x vol

6 alerts

+5.00% News Effect

+8.0% Peak Tracked

-2.9% Trough Tracked

+$5M Valuation Impact

$113M Market Cap

1.7x Rel. Volume

On the day this news was published, ONCY gained 5.00%, reflecting a notable positive market reaction. Argus tracked a peak move of +8.0% during that session. Argus tracked a trough of -2.9% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $5M to the company's valuation, bringing the market cap to $113M at that time. Trading volume was above average at 1.7x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Inducement options (McAdory): 500,000 stock options Inducement options (Wu): 300,000 stock options Option exercise price: US$0.97 per share +3 more

6 metrics

Inducement options (McAdory) 500,000 stock options Equity inducement award on appointment as EVP of Strategy and Operations

Inducement options (Wu) 300,000 stock options Equity inducement award on appointment as VP, Head of Biostatistics

Option exercise price US$0.97 per share Exercise price for inducement stock options

Initial vesting tranche 50% of options Vest on first anniversary of grant date, subject to continued service

Subsequent vesting 25% in equal annual installments Remaining options vest annually after first anniversary, service-based

RSUs (McAdory) 300,000 restricted share units Vest upon occurrence of a material transaction and continued service

Market Reality Check

Price: $1.13 Vol: Volume 941,073 is 1.5x th...

normal vol

$1.13 Last Close

Volume Volume 941,073 is 1.5x the 20-day average of 628,906, indicating elevated interest ahead of this news. normal

Technical Shares at $1.00 are trading above the 200-day MA at $0.91, reflecting a pre-existing upward bias.

Peers on Argus

ONCY was up 0.85% with higher volume, while key biotech peers showed mixed moves...

ONCY was up 0.85% with higher volume, while key biotech peers showed mixed moves (e.g., GNLX +2.24%, ACTU -6.12%, HURA -3.64%). No broad, synchronized sector trend is evident.

Historical Context

5 past events · Latest: Jan 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 12	Clinical data update	Positive	+2.5%	Updated GOBLET Cohort 4 anal cancer data with ~29% ORR and long DOR.
Jan 09	Corporate restructuring	Neutral	-2.4%	Proposal to change jurisdiction of incorporation to Nevada and related F-4.
Jan 08	IP strategy update	Positive	+3.2%	Track 1 patent efforts that could extend pelareorep protection to 2044.
Jan 07	Advisory board expansion	Positive	-0.4%	Added GI tumor experts and highlighted favorable survival and ORR data.
Dec 16	Clinical data release	Positive	+12.7%	KRAS-mutant mCRC data showing 33% ORR and >2x survival vs historical.

Pattern Detected

Recent ONCY news skewed positive (clinical and strategic), with share moves usually aligning; one notable divergence followed strong GI tumor advisory board data.

Recent Company History

Over the past month, Oncolytics reported multiple positive developments around pelareorep, including promising KRAS-mutant mCRC data on Dec 16, 2025 and GI tumor outcomes summarized on Jan 7, 2026. Governance and corporate structure steps, such as the Nevada domestication proposal on Jan 9, 2026, complemented ongoing IP and clinical progress. Updated third-line anal cancer data on Jan 12, 2026 further underscored late-stage potential. Today’s leadership appointments in strategy, operations, and biostatistics fit into this pattern of building execution capacity around advancing registration-directed programs.

Market Pulse Summary

The stock moved +5.0% in the session following this news. A strong positive reaction aligns with the...

Analysis

The stock moved +5.0% in the session following this news. A strong positive reaction aligns with the company’s pattern of constructive responses to clinical and strategic updates, as seen after prior pelareorep data releases with moves up to 12.68%. However, equity inducement awards totaling 800,000 options and 300,000 RSUs add future share overhang that could temper longer-term gains. Investors watching sustainability often compare current prices versus the $0.91 200-day MA and monitor execution of late-stage trials and regulatory interactions.

Key Terms

oncolytic virus, biostatistics, registration-directed, accelerated approval, +4 more

8 terms

oncolytic virus medical

"a late-stage biotechnology company developing an intratumoral oncolytic virus"

A virus engineered or selected to infect and destroy cancer cells while leaving healthy tissue largely unharmed, often acting like a guided missile that also alerts the immune system to attack tumors. It matters to investors because oncolytic viruses represent a potential new class of cancer treatments that can command large markets if proven safe and effective, but development is costly and outcome-driven, carrying high regulatory and clinical risk.

biostatistics technical

"Yujun Wu as Vice President, Head of Biostatistics"

Biostatistics is the use of statistical methods to design medical studies, analyze biological and health data, and interpret the reliability of results from clinical trials and observational research. For investors, it is the tool that turns raw trial numbers into clear probabilities and confidence levels—much like a weather forecast turns measurements into a prediction—helping assess how credible study results are, estimate development risk, and value potential outcomes.

registration-directed regulatory

"advances registration-directed development programs in pancreatic, colorectal, and anal cancers"

A registration-directed program or study is one deliberately designed to produce the specific data regulators need to approve a drug, medical device, or other regulated product. For investors, this signals that the work is aimed at winning market authorization rather than exploratory research — like building a house to code so it can pass inspection — which typically reduces scientific and regulatory uncertainty and can speed a product toward commercial sales.

accelerated approval regulatory

"As we pursue accelerated approval strategies and pivotal trials"

Accelerated approval is a process that allows new medical treatments to be approved more quickly than usual if they address serious or life-threatening conditions and show promising early results. For investors, it signals that a treatment may reach the market sooner, potentially boosting a company's prospects, but it also involves some uncertainty since full evidence of effectiveness is still being gathered.

pivotal trials regulatory

"As we pursue accelerated approval strategies and pivotal trials"

Pivotal trials are the large, definitive clinical studies designed to show whether a drug or medical device works and is safe enough for regulatory approval. Investors watch them like a final exam for a product: passing typically clears the way to sell the therapy and generate revenue, while failing can delay or block approval and sharply reduce a company's value.

inducement equity awards financial

"the Company granted inducement equity awards to Mr. McAdory and Mr. Wu"

Inducement equity awards are stock-based grants—such as shares or options—given to newly hired employees or executives as a hiring incentive, often issued outside a company’s standard long-term compensation plan. They matter to investors because they dilute existing ownership, create a charge against earnings, and align new hires’ pay with company performance; think of it as giving a slice of the pie upfront to convince someone to join, which changes each owner’s share and incentives.

restricted share units financial

"an award of 300,000 restricted share units that will vest in a single installment"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

Nasdaq Listing Rule 5635(c)(4) regulatory

"pursuant to Nasdaq Listing Rule 5635(c)(4), as an inducement material to their"

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

AI-generated analysis. Not financial advice.

Appointments strengthen late-stage clinical execution and statistical leadership as the Company advances multiple registration-directed programs in gastrointestinal cancers

SAN DIEGO, Jan. 14, 2026 (GLOBE NEWSWIRE) -- Oncolytics Biotech^® Inc. (Nasdaq: ONCY) (“Oncolytics” or the “Company”), a clinical-stage immunotherapy company developing pelareorep, today announced the appointment of John McAdory as Executive Vice President of Strategy and Operations and Yujun Wu as Vice President, Head of Biostatistics. These appointments are expected to enhance the Company’s operational, clinical, and regulatory capabilities as Oncolytics advances registration-directed development programs in pancreatic, colorectal, and anal cancers.

Mr. McAdory will oversee clinical development execution, operational strategy, and regulatory readiness across the Company’s portfolio. He brings extensive experience leading late-stage oncology programs, particularly in the oncolytic virus space. Most recently, Mr. McAdory served as Vice President, Clinical Operations at CG Oncology, Inc. (Nasdaq: CGON), a late-stage biotechnology company developing an intratumoral oncolytic virus. Over his career, he has managed large, registration-directed clinical trials involving hundreds of patients across multiple tumor types and supported global regulatory interactions.

“John’s background running complex, late-stage oncology trials makes him exceptionally well-suited to lead Oncolytics’ next phase of execution,” said Jared Kelly, Chief Executive Officer of Oncolytics. “As we progress toward pivotal and registration-enabling studies in anal, pancreatic, and colorectal cancers, his experience will be critical to ensuring disciplined execution, speed, and regulatory alignment.”

Mr. Wu joins Oncolytics to lead Biostatistics, bringing deep expertise in statistical strategy, regulatory interactions, and late-stage trial design. Most recently, he served as Head of Biostatistics at Morphic Therapeutic, where he supported multiple clinical programs through late-stage development and played a key role during the company’s acquisition by Eli Lilly and Company. Previously, Mr. Wu led statistical strategy and regulatory execution for multiple Phase 3 and registration oncology programs at Takeda, Pharmaceutical Company Limited (NYSE: TAK), leveraging innovative trial designs to accelerate late-stage development and global regulatory approvals.

“Yujun’s experience designing and supporting late-stage studies and interacting with regulators significantly strengthens our internal capabilities,” added Mr. Kelly. “As we pursue accelerated approval strategies and pivotal trials, high-quality statistical leadership is essential, and Yujun brings that expertise at a critical time for the Company.”

These appointments directly support Oncolytics’ strategic focus on advancing pelareorep through the most efficient regulatory pathways available, prioritizing indications with high unmet medical need, clear clinical signals, and defined accelerated approval opportunities, including squamous cell anal cancer, pancreatic cancer, and KRAS-mutant colorectal cancer.

Inducement Awards
In connection with their appointments, the Company granted inducement equity awards to Mr. McAdory and Mr. Wu pursuant to Nasdaq Listing Rule 5635(c)(4), as an inducement material to their commencing employment with the Company.

• John McAdory received an inducement award consisting of 500,000 stock options.
• Yujun Wu received an inducement award consisting of 300,000 stock options.

The stock options have an exercise price per share of US$0.97 and vest as to 50% of the underlying shares on the first anniversary of the grant date and 25% of the underlying shares in equal annual installments thereafter, subject to continued service with the Company.

In addition, Mr. McAdory received an award of 300,000 restricted share units that will vest in a single installment upon the occurrence of a material transaction, including, but not limited to, a merger, acquisition, or licensing transaction, subject to the terms of the applicable award agreement and his continued service to the Company.

About Oncolytics Biotech Inc.
Oncolytics is a clinical-stage biotechnology company developing pelareorep, an investigational intravenously delivered double-stranded RNA immunotherapeutic agent. Pelareorep has demonstrated encouraging results in multiple first-line pancreatic cancer studies, two randomized Phase 2 studies in metastatic breast cancer, and early-phase studies in anal and colorectal cancer. It is designed to induce anti-cancer immune responses by converting immunologically “cold” tumors “hot” through the activation of innate and adaptive immune responses.

The Company is advancing pelareorep in combination with chemotherapy and/or checkpoint inhibitors in metastatic pancreatic and breast cancers, of which both development programs have received Fast Track designation from the FDA, and other gastrointestinal tumors. Oncolytics is actively pursuing strategic partnerships to accelerate development and maximize commercial impact. For more about Oncolytics, please visit: www.oncolyticsbiotech.com or follow the Company on social media on LinkedIn and on X @oncolytics.

Forward-looking statements
This press release contains forward-looking statements, within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information under applicable Canadian securities laws (such forward-looking statements and forward-looking information are collectively referred to herein as “forward-looking statements”). Forward-looking statements contained in this press release include statements regarding beliefs as to the potential, registration, mechanism of action and benefits of pelareorep as a cancer therapeutic; the appointments of Messrs. McAdory and Wu enhancing the Company’s operational, clinical, and regulatory capabilities; the Company’s goals, strategies, and objectives; and its belief in the clinical promise of pelareorep in gastrointestinal cancers. In any forward-looking statement in which Oncolytics expresses an expectation or belief as to future results, such expectations or beliefs are expressed in good faith and are believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will be achieved. These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those anticipated. These risks include, but are not limited to, regulatory outcomes, trial execution, financial resources, access to capital markets, and market dynamics. Please refer to Oncolytics’ public filings with securities regulators in the United States and Canada for more information. The Company assumes no obligation to update forward-looking statements, except as required by law.

Company Contact
Jon Patton
Director of IR & Communication
jpatton@oncolytics.ca

Investor Relations for Oncolytics
Mike Moyer
LifeSci Advisors
+1-617-308-4306
mmoyer@lifesciadvisors.com

Media Contact for Oncolytics
Owen Blaschak
LifeSci Communications
oblaschak@lifescicomms.com

FAQ

Who did Oncolytics (ONCY) appoint on January 14, 2026?

Oncolytics appointed John McAdory as EVP, Strategy and Operations and Yujun Wu as VP, Head of Biostatistics.

What inducement equity awards did Oncolytics (ONCY) grant to McAdory and Wu?

McAdory received 500,000 options and 300,000 RSUs; Wu received 300,000 options with an exercise price of $0.97.

How do the option vesting schedules for the Oncolytics (ONCY) hires work?

Options vest 50% on the first anniversary of grant and the remaining 25% in equal annual installments thereafter, subject to continued service.

What triggers the 300,000 restricted share units granted to John McAdory at Oncolytics (ONCY)?

The 300,000 RSUs vest in a single installment upon the occurrence of a material transaction such as a merger, acquisition, or licensing transaction, subject to the award terms and continued service.

How do these hires affect Oncolytics' clinical programs for pelareorep?

The hires are intended to strengthen operational, clinical, and regulatory capabilities as Oncolytics advances registration‑directed studies in anal, pancreatic, and KRAS‑mutant colorectal cancers.

Where did McAdory and Wu work before joining Oncolytics (ONCY)?

McAdory most recently served as VP, Clinical Operations at CG Oncology (CGON); Wu most recently served as Head of Biostatistics at Morphic Therapeutic and previously led late‑stage oncology statistics at Takeda.