Oncolytics Biotech® Inc. (NASDAQ:ONCY) ("Oncolytics" or the "Company"), a clinical-stage immunotherapy company developing pelareorep, today announced data published in the Proceedings of the National Academy of Sciences show pelareorep’s ability to change an immunologically inactive liver cancer tumor microenvironment into one that is immunologically active and potentially susceptible to immune-based therapy. The academic paper titled "MicroRNA-driven regulation of immunosuppressive microenvironment in hepatocellular carcinoma" was published in Proceedings of the National Academy of Sciences on September 28, 2026 (link to the paper). Pelareorep is an investigational, systemically active immunotherapy that promotes potentially protective immune responses, including the upregulation of key inflammatory cytokines resulting in the formation of tertiary lymphoid structures and the expansion of tumor-infiltrating lymphocytes.