At the Special Meeting of Shareholders held on January 15, 2026, Oncolytics Biotech Inc. reported that three corporate governance proposals received majority support. The Continuance Resolution, authorizing relocation from Alberta to British Columbia, passed with 85.21% of shares in favor (14,994,075 votes) and 14.79% opposed (2,602,405 votes). The Domestication Resolution, enabling transition from British Columbia to Nevada, secured 86.98% approval (15,304,574 votes) against 13.02% opposition (2,291,905 votes). The 2026 Incentive Award Plan Resolution, contingent on the corporate moves, was approved by 76.77% of votes (13,508,657) with 23.23% dissent (4,087,822).

The approved Continuance and Domestication steps reflect management’s strategy to optimize regulatory flexibility and access to U.S. capital markets. Relocating to British Columbia first preserves Canadian corporate governance benefits, while subsequent registration in Nevada aligns with U.S. listing requirements and may reduce legal and administrative costs. Executives highlighted that this two-stage process will streamline future financing and strategic partnership opportunities in the United States without disrupting ongoing clinical programs.

Oncolytics anticipates completing both the Continuance and Domestication by the end of Q1 2026. Upon registration in Nevada, the 2026 Incentive Award Plan—designed to grant equity-based compensation to executives, directors and staff—will become effective. Management expects that the new plan will support talent retention and align employee interests with long-term value creation, particularly as the Company advances pivotal trials of pelareorep in pancreatic and breast cancers.

Oncolytics is developing pelareorep, an intravenously delivered double-stranded RNA agent that converts immunologically cold tumors hot. The asset has shown promising signal in multiple first-line pancreatic cancer cohorts and two randomized Phase 2 studies in metastatic breast cancer, both of which carry FDA Fast Track designation. Early-phase data in anal and colorectal cancer suggest broad applicability. The Company is also exploring combination regimens with checkpoint inhibitors, and is in active discussions with potential strategic partners to fund late-stage trials and prepare for eventual commercialization.