Oncolytics Biotech Inc. Announces 2007 Third Quart... (curred clinical site start up costs for ...)

Oncolytics Biotech Inc. Announces 2007 Third Quarter Results

Date:10/30/2007

curred clinical site start up costs for our three co-therapy trials in the U.K. and our Phase II sarcoma clinical trial in the U.S. During the nine month period ending September 30, 2006, we incurred direct patient costs in four ongoing clinical trials along with clinical site start up costs associated with our U.S. recurrent malignant glioma and U.K. Phase Ia combination REOLYSIN(R)/radiation therapy trials.

We expect our clinical trial expenses will continue to increase for the remainder of 2007 compared to 2006 as we continue patient enrollment and expand our clinical trial program to include other trial sites and other studies.

Pre-Clinical Trial Expenses and Research Collaborations

2007 2006

$ $

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Research collaboration expenses 694,315 634,199

Pre-clinical trial expenses 37,130 57,354

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Pre-clinical trial expenses and

research collaborations 731,445 691,553

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During the nine month period ending September 30, 2007, our research collaboration expenses were $694,315 compared to $634,199 for the nine month period ending September 30, 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, the use of new RAS active viruses as potential therapeutics, and to investigate new uses of the reovirus as a therapeutic.

For the remainder of 2007, we still ex
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Oncolytics Biotech Inc. Announces 2007 Third Quart...(curred clinical site start up costs for ...)