OncoGenex Reports Financial Results for Fourth Quarter and Fiscal Year 2008 and Provides Outloo...( Conference Call on Wednesday March 11...)

Conference Call on Wednesday, March 11, 2009 at 4:30 p.m. Eastern Time

BOTHELL, WA, and VANCOUVER, March 11 /PRNewswire-FirstCall/ - OncoGenex Pharmaceuticals, Inc. ("OncoGenex" or the "Company") (NASDAQ: OGXI), today announced its fourth quarter and fiscal year 2008 financial results, reviewed the Company's highlights and provided an outlook for 2009.

"2008 was a tremendously active year from an execution standpoint as we took measures to prepare for the final stages of clinical development of our lead product candidate, OGX-011, for the treatment of cancer and to position for long term growth of the Company," said Scott Cormack, President and Chief Executive Officer of OncoGenex. "We released Phase 2 clinical data showing a survival benefit in patients treated with OGX-011 and are working closely with the FDA to develop Phase 3 study designs and protocols defining a registration path for product approval. We also took measures to extend our cash runway, and we have been advancing discussions with potential development partners."

    Key Objectives for 2009

    -   Report final survival data with additional results from the Phase 2
        clinical trial evaluating first-line docetaxel with and without
        OGX-011 treatment in patients with castrate resistant prostate cancer
        ("CRPC"); these data have been selected for presentation at the
        American Society of Clinical Oncology 2009 Annual Meeting in the
        second quarter.
    -   In the second quarter, reach an agreement with the FDA via the
        Special Protocol Assessment process ("SPA") on the design of a second
        Phase 3 registration trial evaluating durable pain palliation for
        OGX-011 in combination with docetaxel as second-line chemotherapy in
        patients with CRPC.
    -   In the third quarter, discuss w
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SOURCE  OncoGenex Pharmaceuticals, Inc.
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