Item 7.01 Regulation FD Disclosure.
Oncorus, Inc. (the "Company") is aware of media reports indicating that Silicon
Valley Bank ("SVB") has been closed by the California Department of Financial
Protection and Innovation, which appointed the Federal Deposit Insurance
Corporation as receiver. The Company informs its investors that it has deposit
accounts with SVB with an aggregate balance of approximately $10 million, which
is approximately 23% of the Company's total current cash, cash equivalents and
short-term investments. In addition, the Company has a standby letter of credit
in place with SVB of approximately $3.4 million securing obligations under its
lease agreement with IQHQ-4 Corporate Drive, LLC. SVB does not hold the
Company's short-term investments portfolio, which is managed in segregated
custodial accounts at another financial institution.
The information in this Item 7.01 is intended to be furnished and shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of
that section, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act, whether made
before or after the date hereof, regardless of any incorporation by reference
language in such a filing, except as expressly set forth by specific reference
in such filing.
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