Oncolytics Biotech (ONC.TO), down 4.6% in U.S. pre-market trading, on Tuesday said it has obtained safety and regulatory clearance in Germany for pelareorep to advance enrollment in its pancreatic cancer study. Thirty patients are set to participate in Stage 1 across the two treatment arms.

Oncolytics also said it presented new efficacy and safety data at the 2025 American Society of Clinical Oncology (ASCO) Gastrointestinal Cancers Symposium in late January.

"We're hitting critical milestones that validate our progress and set the stage for what we believe will be an exciting year," said Wayne Pisano, interim chief executive and the board chair. "With positive feedback from regulators in place, we're advancing our pancreatic cancer study toward full enrollment, and our ASCO GI presentations highlighted pelareorep's strong safety and efficacy results in two hard-to-treat cancers. We remain focused on bringing new treatment options to patients while creating value for shareholders as we move forward in 2025."

The company over the holiday weekend said it received a Nasdaq delinquency notification letter for failing to meet the minimum bid price requirement of US$1.00 for 30 consecutive business days. The company has 180 days to regain compliance with the price requirement.

Oncolytics was last seen down US$0.04 to US$0.73 in New York trading.