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OncoGenex Reports First Quarter Financial Results
Date:5/6/2010

cancer ("NSCLC") are on track to initiate in the third quarter of 2010, the second half of 2010 and early 2011, respectively."

Recent Business Highlights:

OGX-011

    -   The European Medicines Agency confirmed that they are in overall
        agreement with our Phase III development plan for OGX-011 in patients
        with CRPC.
    -   Two peer-reviewed manuscripts were published that further explain the
        biological function of clusterin, its role in promoting tumor
        resistance to cancer treatment, and the role of an inhibitor of
        clusterin such as OGX-011, to enhance the effectiveness of cancer
        therapies. One of the co-authors to these manuscripts, Dr. Martin
        Gleave, is also the Company's Chief Scientific Advisor.

OGX-427

    -   Grant funding was secured for a randomized, investigator-sponsored
        Phase II trial of OGX-427 when administered as a monotherapy to
        patients with CRPC.
    -   Two peer-reviewed manuscripts were published that provide further
        insight into the mechanism of action of heat shock protein 27
        (Hsp27). OGX-427 is designed to reduce levels of Hsp27.
    -   Final results from a Phase 1 study involving OGX-427 will be
        presented as part of the Scientific Program in a General Poster
        Session with discussion at the ASCO 2010 Annual Meeting. These final
        data, including results combining OGX-427 with docetaxel, will update
        preliminary data that was featured in an oral presentation at the
        ASCO 2009 meeting.

Corporate Highlights

    -   Dr. Jack Goldstein and Ms. H. Stewart Parker were appointed to the
        board of directors. Dr. Goldstein joins the board as chairman. In
        addition, Dr. Martin Mattingly has agreed to stand for election at
        the Company's upcoming
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SOURCE OncoGenex Pharmaceuticals, Inc.
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