Oncolytics Biotech, Inc. Q4 FY2024 earnings call

Introduction - Wayne Pisano thanked Dr. Matthew Coffey for his recovery and noted ongoing search for CEO. - Highlighted potential of pelareorep (PELA) in HR-positive HER2-negative metastatic breast cancer with accelerated approval potential. ### Clinical Updates - Thomas Heineman discussed BRACELET-1 study confirming PELA's efficacy in breast cancer, planning Phase 2 study for accelerated approval. - GI cancer updates: goblet cohort five in pancreatic cancer progressing, goblet cohort four in anal cancer enrolling, with positive safety and efficacy data. ### Business Development - Christophe Degois discussed ongoing conversations with biopharma partners, highlighting PELA's potential in multiple indications, collaboration with GCAR and PanCAN for GI studies. ### Financials - Kirk Look reviewed Q4 and full-year 2024 financials, noting cash resources and expense details.

For the fourth quarter of 2024, net loss was $8 million compared to a net loss of $3.9 million in the fourth quarter of 2023. Basic and diluted loss per share was $0.10 in Q4 2024 vs $0.05 in Q4 2023. For the full year 2024, net loss totaled $31.7 million compared to $27.8 million in 2023, or $0.41 per share. As of December 31, 2024, cash and cash equivalents were $15.9 million. General and administrative expenses decreased in Q4 2024 due to lower personnel-related expenses and cash incentives, offset by higher share-based compensation. Research and development expenses decreased due to lower personnel-related costs but were offset by higher clinical trial and share-based payment expenses.

Breast Cancer - Planning to initiate Phase 2 study of ~180 HR-positive, HER2-negative advanced/metastatic breast cancer patients in second half of 2025, with primary endpoint expected in 2 years. ### GI Cancers - Continued enrollment in goblet cohorts, with plans to review and report efficacy results from pancreatic cohort by end of 2024. ### Business Development - Ongoing discussions with partners to advance PELA's development and registration in various indications.

Forward-Looking Statements - Subject to risks including clinical trial results, intellectual property protection, regulatory actions, financial projections, and other factors detailed in company filings with SEDAR and SEC. These could cause actual results to differ materially from expectations.

Q: Michael Freeman asked about the total cost of the registration-enabling study in metastatic breast and oncolytic virus renaissance.

A: Kirk Look said total cost details were premature, but they're working on it. Christophe Degois noted increased oncolytic virus activities are beneficial, citing CG Oncology and others, and PELA's advantages.

Q: Luis Santos inquired about commercial positioning of PELA vs ADCs and potential combination therapy.

A: Thomas Heineman said PELA targets patients ineligible for or intolerant to ADCs, and those progressing on ADCs. Christophe Degois added on addressable patient population and market opportunity in breast cancer