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OncoGenex Reports Third Quarter Financial Results
Date:11/10/2008

strengthening our product pipeline while streamlining our business to efficiently maximize our cash resources," said Scott Cormack, President and Chief Executive Officer of OncoGenex. "We have three programs - OGX-011, OGX-427, and SN2310 - now with robust data packages in various stages of clinical development representing attractive investment opportunities for new and existing shareholders as well as potential partners."

Recent Business Highlights:

- On August 21, 2008, Sonus Pharmaceuticals, Inc. and OncoGenex

Technologies Inc. completed a transaction, whereby Sonus acquired all

of the outstanding securities and convertible debentures of OncoGenex

Technologies. Sonus changed its name to OncoGenex Pharmaceuticals,

Inc. and was listed on the Nasdaq Capital Market under the ticker

symbol OGXI. Concurrent with the completion of the transaction there

was a workforce reduction of 49% of the employees of the two

companies in order to effectively utilize cash assets while

maintaining the resources to advance our priority clinical programs.

The Company has 24 full-time employees after giving effect to the

above workforce reduction.

- OncoGenex and Isis amended the development agreement for OGX-011,

providing OncoGenex with increased economic interest in OGX-011 and

increased flexibility to further develop this product candidate. In

addition, we believe this new arrangement facilitates future

partnering discussions since potential development and

commercialization partners need only deal with one party.

- OncoGenex reached an agreement with the FDA on the design of a Phase

3 registration trial of OGX-011, its lead product candidate targeting

hormone refractory prostate cancer, via the SPA process. In the

letter responding to the OncoGenex submission, the
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SOURCE OncoGenex Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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Related biology technology :

1. OncoGenex reports lead drug candidate OGX-011 achieved primary endpoint in Phase 2 Trial with second-line chemotherapy for prostate cancer
2. Sonus Pharmaceuticals and OncoGenex Technologies to Merge
3. OncoGenex to present at the Needham & Company 7th Annual Biotechnology & Medical Technology Conference
4. OncoGenex increases economic interest in lead cancer drug OGX-011
5. OncoGenex receives completed Special Protocol Assessment for primary registration study of lead drug candidate OGX-011
6. Sonus Pharmaceuticals and OncoGenex Technologies complete business combination; OncoGenex Pharmaceuticals to commence trading on NASDAQ Capital Market today
7. FDA Grants Fast Track Designation for OncoGenex Pharmaceuticals Lead Product Candidate OGX-011
8. OncoGenex Pharmaceuticals announces out-license of TOCOSOL Paclitaxel to Eagle Pharmaceuticals
9. OncoGenex To Present At The BioContact Quebec 2008 Annual Conference
10. OncoGenex Achieves Key Regulatory Milestone for Lead Product Candidate, OGX-011
11. OncoGenex Pharmaceuticals to Release Third Quarter Financial Results
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