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OncoGenex Reports Second Quarter Financial Results
Date:8/5/2010

with advanced prostate cancer, many patients will eventually develop treatment resistance and their disease will progress."

Cormack added, "Our partnership with Teva Pharmaceuticals has financed a robust clinical trial program for custirsen and provided us with the cash to fund operations into mid-2012, while retaining royalty rates which we estimate at the higher tiers could approach economics seen in profit-sharing arrangements. We're now focusing on advancing OGX-427 to more fully realize its diverse potential. We are currently evaluating various alternatives, including partnering, which would allow us to expand the OGX-427 development plan beyond the ongoing Phase 1 bladder cancer trial and the randomized Phase 2 prostate cancer trial planned to initiate later this year."

Recent Accomplishments and Anticipated Milestones

    Custirsen
    ---------

      -  In partnership with Teva, we initiated the international Phase 3
         Prostate Cancer SATURN trial evaluating custirsen with docetaxel
         retreatment as second-line therapy in castrate-resistant prostate
         cancer (CRPC). The SATURN trial will be conducted in approximately
         50 cancer centers and will enroll approximately 300 men who have
         previously responded to first-line docetaxel therapy, but
         subsequently have disease progression that involves prostate cancer-
         related pain despite opioid usage.

      -  Two additional Phase 3 trials will be initiated evaluating custirsen
         in first-line treatment of metastatic CRPC and first-line treatment
         of advanced, unresectable non-small cell lung cancer (NSCLC). Both
         trials will be in combination with chemotherapy and will assess
         overall survival as the primary endpoint.

    OGX-427
    -------

      -  Final results from a Phase 1 trial of OGX-427 were announced at the
         ASCO 2010 Annual Meetin
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SOURCE OncoGenex Pharmaceuticals, Inc.
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