Navigation Links
OncoGenex Pharmaceuticals Completes $9.5 Million Registered Direct Offering

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, 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

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:
(Date:11/25/2015)... 2015 The Global Genomics ... professional and in-depth study on the current state ... ) , The report ... definitions, classifications, applications and industry chain structure. The ... markets including development trends, competitive landscape analysis, and ...
(Date:11/24/2015)... 24, 2015 Halozyme Therapeutics, Inc. (NASDAQ: HALO ) ... New York on Wednesday, December 2 at 9:30 ... president and CEO, will provide a corporate overview. th ... at 1:00 p.m. ET/10:00 a.m. PT . Jim ... provide a corporate overview. --> th Annual Oppenheimer ...
(Date:11/24/2015)... 2015  Clintrax Global, Inc., a worldwide provider of clinical research ... announced that the company has set a new quarterly earnings record ... quarter growth posted for Q3 of 2014 to Q3 of 2015. ... Mexico , with the establishment of an Asia-Pacific ... United Kingdom and Mexico ...
(Date:11/24/2015)... York , November 24, 2015 ... a recent market research report released by Transparency Market ... to expand at a CAGR of 17.5% during the ... Prenatal Testing Market - Global Industry Analysis, Size, Volume, ... the global non-invasive prenatal testing market to reach a ...
Breaking Biology Technology:
(Date:10/26/2015)... Calif. , Oct. 26, 2015  Delta ID ... biometric authentication to mobile and PC devices, announced its ... smartphone, the arrows NX F-02H launched by NTT DOCOMO, ... NX F-02H is the second smartphone to include iris ... technology in ARROWS NX F-04G in May 2015, world,s ...
(Date:10/23/2015)... and GOLETA, California , ... HFES conference, BIOPAC and SensoMotoric Instruments (SMI) announce a ... eye tracking data captured during interactive real-world tasks ... and play integration of their established wearable solutions for ... to synchronize gaze behavior captured with SMI Eye ...
(Date:10/22/2015)... Calif., Oct. 22, 2015  Synaptics (NASDAQ: SYNA ), a ... its first quarter ended September 30, 2015. ... of fiscal 2016 grew 66 percent over the comparable quarter last ... fiscal 2016 was $23.8 million, or $0.62 per diluted share. ... for the first quarter of fiscal 2016 grew 39 percent over ...
Breaking Biology News(10 mins):