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Oncolytics Biotech(R) Inc. Reports Highlights and Financial Results for 2008
Date:3/4/2009

3,223,585 (19,846) 7,429,895 Cash and cash equivalents, beginning of period 6,715,096 3,491,511 3,511,357 - ------------------------------------------------------------------------- Cash and cash equivalents, end of period 7,429,895 6,715,096 3,491,511 7,429,895 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Cash interest received 769,529 1,392,866 940,100 ------------------------------------------------------------------------- -------------------------------------------------------------------------

To view the Company's Financial Statements and Management's Discussion and Analysis, please see the Company's 2008 Annual Filings which will be available on www.sedar.com and www.oncolyticsbiotech.com.

About Oncolytics Biotech Inc.

Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics. Oncolytics' clinical program includes a variety of Phase I/II and Phase II human trials using REOLYSIN(R), its proprietary formulation of the human reovirus, alone and in combination with radiation or chemotherapy. For further information about Oncolytics please visit www.oncolyticsbiotech.com

This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and under applicable Canadian provincial securities legislation. Forward-looking statements, including the Company's belief as to the potential of REOLYSIN as a cancer therape
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SOURCE Oncolytics Biotech Inc.
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