Oncolytics Biotech® Inc. (Nasdaq: ONCY) ("Oncolytics" or the "Company"), a clinical-stage immunotherapy company, today announced that the U.S. Food and Drug Administration ("FDA") has granted Fast Track designation to pelareorep in combination with a checkpoint inhibitor for the treatment of patients with inoperable, locally recurrent or metastatic squamous cell carcinoma of the anal canal ("SCAC") who have progressed on or were intolerant to one or more prior lines of systemic therapy.

Fast Track designation is intended to facilitate the development and expedite the review of therapies that treat serious diseases and address significant unmet medical needs. The designation provides opportunities for more frequent interactions with the FDA throughout development, rolling review of a future Biologics License Application, and eligibility for Priority Review, if applicable.