Oncorus, Inc. announced that, in response to challenges associated with raising additional capital and pursuing strategic alternatives to secure additional funding, including current market conditions, the Company's board of directors has approved a workforce reduction of approximately 55 employees, representing substantially all of Oncorus' workforce, which is expected to be completed by August 2023. Theodore (Ted) Ashburn, M.D., Ph.D. (Chief Executive Officer) will be departing the Company as part of the workforce reduction, with such transition date expected to be no later than June 30, 2023. Dr. Ashburn will remain on the Company's board of directors.