Oncolytics Biotech (ONCY) has strengthened its executive leadership team as clinical development of its lead asset, Pelareorep, progresses through Phase 2 trials in multiple solid tumor indications. The company reports positive interim data from a Phase 2 trial in triple-negative breast cancer, with a 35% objective response rate observed in combination with pembrolizumab.
- Dr. Amanda Reed appointed Chief Medical Officer; Michael Tran joins board as independent director
- 35% objective response rate observed in Phase 2 trial of Pelareorep + pembrolizumab in triple-negative breast cancer
- 28 evaluable patients in trial; two complete responses reported
- Grade 3 or higher treatment-related adverse events in 14% of patients
- Company's cash and equivalents rose to $72 million following $28 million private placement
- Registrational trial for Pelareorep expected to begin in late 2026
Oncolytics Biotech (ONCY) has announced significant leadership enhancements, including the appointment of Dr. Amanda Reed as Chief Medical Officer and the addition of Michael Tran to the board as an independent director with extensive biotech governance experience. These changes coincide with clinical momentum for Pelareorep, an oncolytic virus therapy designed to selectively replicate in and destroy cancer cells while stimulating systemic anti-tumor immunity. The company released interim results from a multicenter Phase 2 trial evaluating Pelareorep in combination with pembrolizumab in patients with metastatic triple-negative breast cancer. Among 28 evaluable patients, 35% achieved an objective response, including two complete responses. Additionally, the therapy demonstrated a manageable safety profile, with Grade 3 or higher treatment-related adverse events reported in 14% of patients. These findings support further advancement into a registrational trial planned for late 2026. The clinical progress, coupled with leadership stability, underscores improved operational execution and strategic focus. The company also reported a $28 million increase in cash and equivalents from a private placement completed in November 2025, bringing total liquidity to $72 million, which supports ongoing trial activities and regulatory preparation. Investors and analysts are noting the dual catalysts of clinical data validation and executive continuity as key drivers of confidence. The stock has seen a 22% rise in the past 30 days, reflecting market optimism around Pelareorep’s potential to enter the $4.3 billion global oncolytic virus market by 2030. The developments are particularly relevant for stakeholders tracking clinical-stage oncology biotechs with limited market capitalization.