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Oncolytics Biotech Inc. Announces 2007 Third Quarter Results
Date:10/30/2007

sed to $1,201,557 compared to $639,719 for the third quarter of 2006. In the third quarter of 2007, we incurred direct clinical trial expenses in our seven actively enrolling trials compared to only four enrolling trials in the third quarter of 2006.

Pre-Clinical Trial Expenses and Research Collaborations

2007 2006

$ $

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Research collaboration expenses 293,785 252,460

Pre-clinical trial expenses - 48,705

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Pre-clinical trial expenses and

research collaborations 293,785 301,165

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During the third quarter of 2007, our research collaboration expenses were $293,785 compared to $252,460 for the third quarter of 2006. Our research collaboration activity continues to focus on the interaction of the immune system and the reovirus, the use of the reovirus as a co-therapy with existing chemotherapeutics, and to investigate new uses of the reovirus as a therapeutic.

Other Research and Development Expenses

2007 2006

$ $

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R&D consulting fees 38,152 70,323

R&D salaries and benefits 342,155 299,224

Other R&D expenses 58,440 86,883

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SOURCE Oncolytics Biotech Inc.
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