CAMBRIDGE, Mass., Oct. 01, 2020 (GLOBE NEWSWIRE) -- Oncorus, Inc., a clinical stage biopharmaceutical company focused on developing next-generation viral immunotherapies to transform outcomes for cancer patients, today announced the pricing of its initial public offering of 5,800,000 shares of common stock at a price to the public of $15.00 per share. The gross proceeds to Oncorus, before deducting underwriting commissions and offering expenses, are expected to be approximately $87.0 million. All of the shares of common stock are being offered by Oncorus. In addition, Oncorus has granted the underwriters a 30-day option to purchase up to 870,000 additional shares of common stock at the initial public offering price less underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “ONCR” on October 2, 2020, and the offering is expected to close on or about October 6, 2020, subject to customary closing conditions.

Jefferies, Evercore ISI and Piper Sandler are acting as joint book-running managers for the offering.

About Oncorus

Oncorus is a clinical stage biopharmaceutical company focused on developing next-generation viral immunotherapies to transform outcomes for cancer patients. Using its two distinct proprietary platforms, the Company is developing a pipeline of intratumorally and intravenously administered product candidates designed to selectively attack and kill tumor cells and stimulate multiple arms of the immune system against tumors. Oncorus’ lead product candidate, ONCR-177, is an intratumorally administered viral immunotherapy based on its oncolytic HSV-1 platform, referred to as the oHSV Platform, which leverages the Herpes Simplex Virus type 1, or HSV-1, a virus which has been clinically proven to effectively treat certain cancers.