Navigation Links
OncoGenex Pharmaceuticals Completes $9.5 Million Registered Direct Offering
Date:7/24/2009

BOTHELL, WA and VANCOUVER, July 24 /PRNewswire-FirstCall/ - OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) announced today that it has completed its registered direct offering, previously announced on July 20, 2009, of 475,000 shares of its common stock to institutional investors at a price of $20.00 per share, for gross proceeds to the Company of approximately $9.5 million. The $20 offering price represented a 3.5% discount to the closing price on July 17, 2009, the last trading day prior to announcement. After deducting the estimated offering expenses payable by the Company, the net proceeds are expected to be approximately $9.4 million.

The Company plans to use the net proceeds from the offering primarily for manufacturing readiness activities and general corporate purposes.

The shares of common stock offered by OncoGenex in this transaction were offered and sold pursuant to OncoGenex's existing shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission on July 17, 2009. There was no placement agent or underwriter in this transaction.

Copies of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained at the Securities and Exchange Commission's web site at http://www.sec.gov, or from OncoGenex Pharmaceuticals, Inc., 1522 217th Pl. SE, Suite 100, Bothell, WA 98021-7617, Attention: Chief Financial Officer.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the common stock of OncoGenex, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About OncoGenex Pharmaceuticals

OncoGenex is a biopharmaceutical company committed to the development and commercialization of new therapies that address unmet needs in the treatment of cancer. OncoGenex has a deep oncology pipeline, with each product candidate having a distinct mechanism of action and representing a unique opportunity for cancer drug development. OGX-011, the lead candidate that has completed five Phase 2 clinical trials in prostate, lung and breast cancers, is designed to inhibit the production of a specific protein associated with treatment resistance; OGX-427 is in Phase 1 clinical development; SN2310 has completed the Phase 1 clinical trial; and CSP-9222 and OGX-225 are currently in pre-clinical development.

OGX-011, OGX-427 and OGX-225 utilize second-generation antisense technology, licensed from Isis Pharmaceuticals (NASDAQ: ISIS), to effectively target and inhibit production of specific proteins in tumor cells. OncoGenex and Isis partnered in the successful discovery of OGX-011, OGX-427 and OGX-225 and with respect to OGX-011, in its initial development. In 2008, OncoGenex and Isis amended their OGX-011 agreement to provide OncoGenex with sole rights to OGX-011 and sole responsibility for development and related costs and partnering decisions, subject to financial obligations to Isis. OncoGenex is also solely responsible for development and related costs and partnering decisions regarding OGX-427 and OGX-225. Key intellectual property related to OGX-011, OGX-427 and OGX-225 were discovered by the University of British Columbia and the Vancouver Prostate Centre, and were exclusively licensed to OncoGenex.

More information about OncoGenex is available at www.oncogenex.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the use of proceeds in respect of the financing, the company's manufacturing readiness, prospects for securing a co-development and commercialization partner and planned phase 3 trials. Such forward-looking statements are subject to risks and uncertainties, including, among others: the risk factors set forth in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for fiscal year 2008. The Company undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.


'/>"/>
SOURCE OncoGenex Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. OncoGenex Pharmaceuticals to Raise $9.5 Million Through Sale of Common Stock
2. OncoGenex Pharmaceuticals Added to Russell Indexes
3. OncoGenex Pharmaceuticals Files Shelf Registration Statement
4. OncoGenex Pharmaceuticals Completes Amendment to Phase 3 Special Protocol Assessment for Confirming Survival Benefit in Patients Receiving OGX-011 with First-Line Docetaxel for Metastatic Prostate Cancer
5. OncoGenex Pharmaceuticals Announces OGX-011 Treatment Provides Survival Benefit in Randomized Phase 2 Trial in Advanced Metastatic Prostate Cancer
6. OncoGenex Pharmaceuticals Announces OGX-427 Treatment Demonstrates Safety, Evidence of Declines in Circulating Tumor Cells and Reductions in Tumor Markers in a Phase 1 Cancer Trial
7. OncoGenex Pharmaceuticals to Webcast ASCO Reception on May 30, 2009
8. OncoGenex Pharmaceuticals Announces Release of Two ASCO Abstracts: Impact of OGX-011 on Survival in Randomized Phase 2 Trial and Phase 1 Safety Data for OGX-427
9. OncoGenex Pharmaceuticals Clinical Programs to be Featured in Oral Presentations at the American Society of Clinical Oncology Annual Meeting
10. OncoGenex Reports First Quarter Financial Results
11. OncoGenex Pharmaceuticals to Release First Quarter Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/16/2017)... ... 2017 , ... Cognition Corporation , a software company ... of its “From the Helm” Webinar Series. , The next two free ... design control exercises. Led by David Cronin, Cognition’s CEO, the half-hour public webinars ...
(Date:6/16/2017)... (PRWEB) , ... June 16, 2017 , ... CTNext ... Entrepreneur Innovation Awards (EIA), held at The LOFT at Chelsea Piers in Stamford. , ... ideas to a panel of judges for an opportunity to secure $10,000 awards to ...
(Date:6/15/2017)... ... June 15, 2017 , ... ... secured a Series B round of financing in the amount of $6 million. ... private investors participated in the round. , The Series B funding will enable ...
(Date:6/15/2017)... , ... June 15, 2017 , ... ... a promising new medical device startup. Dan Parsley, angelMD’s SVP of Corporate Development, ... members, and this angelMD syndicate is part of Saranas’ recently announced $4 million ...
Breaking Biology Technology:
(Date:5/23/2017)... robotic gym for the rehabilitation and functional motor sense evaluation of lower ... . The first 30 robots will be available from June in ... The technology was developed and patented at the IIT laboratories and has ... to a 10 million euro investment from entrepreneur Sergio Dompè. ... ...
(Date:5/6/2017)... 2017 RAM Group , Singaporean ... breakthrough in biometric authentication based on a ... to perform biometric authentication. These new sensors are based ... by Ram Group and its partners. This sensor will ... chains and security. Ram Group is a next ...
(Date:4/18/2017)... 18, 2017  Socionext Inc., a global expert in SoC-based imaging ... server, the M820, which features the company,s hybrid codec technology. A ... Tera Probe, Inc., will be showcased during the upcoming Medtec Japan ... at the Las Vegas Convention Center April ... Click here for ...
Breaking Biology News(10 mins):