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OncoGenex Reports Third Quarter 2009 Financial Results

7 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 intended use and sufficiency of the Company's cash, cash equivalents and short-term investments, the company's manufacturing and clinical trial readiness, prospects for securing a 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.

                     Condensed Statements of Operations
                               (in thousands)

                                            Three Months        Nine Months
                                               Ended              Ended
                                            September 30,       September 30,
                                           2009     2008       2009     2008

    Operating expenses
      Research and development          $ 1,513  $ 1,639    $ 6,795  $ 3,621
      General and administrative            885    1,024      2,670    2,243
                                        -------  --------
    Total operating expe
SOURCE OncoGenex Pharmaceuticals, Inc.
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