Oncolytics Biotech Stock Soars 11.69% on CEO Appointment

Oncolytics Biotech's stock surged by 11.69% in pre-market trading on June 12, 2025, marking a significant rise that has caught the attention of investors and industry analysts alike.

Oncolytics Biotech Inc. has appointed Jared Kelly as its new Chief Executive Officer and a member of its Board of Directors. Kelly, a seasoned biotech executive, brings a wealth of experience in transformative deals and corporate strategy. His most recent achievement includes orchestrating the sale of Ambrx Biopharma to Johnson & Johnson for $2 billion. Prior to this, he advised multiple leading-edge biotech companies on M&A and licensing transactions at prestigious law firms, including Lowenstein Sandler LLP and Kirkland & Ellis LLP. Kelly's appointment is seen as a strategic move to accelerate the development of Oncolytics' immunotherapy programs, particularly its flagship product, pelareorep.

Pelareorep, an intravenously-administered immunotherapeutic agent, has shown promising results in clinical trials. It has been granted FDA Fast Track designation in metastatic pancreatic ductal adenocarcinoma (mPDAC) and HR+/HER2- metastatic breast cancer (mBC). The clinical data for pelareorep across multiple tumors is striking, indicating its potential as a backbone immunotherapy to address many in-need indications. The data show that pelareorep creates a robust immunologic response in difficult tumors and increases survival in a patient population where survival has historically evaded most patients. With Kelly's leadership, Oncolytics aims to move pelareorep forward effectively and efficiently, attracting potential partners and unlocking significant value for stakeholders.