Oncolytics Biotech Inc. Announces 2007 Third Quart... (pect that pre-clinical trialexpenses and...)

Oncolytics Biotech Inc. Announces 2007 Third Quarter Results

Date:10/30/2007

pect that pre-clinical trial expenses and research collaborations will decline compared to 2006. We expect to continue with our various collaborations in order to provide support for our expanding clinical trial program. As well, we may expand our collaborative activities to include other viruses.

Other Research and Development Expenses

2007 2006

$ $

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R&D consulting fees 180,043 134,650

R&D salaries and benefits 1,109,709 907,115

Quebec scientific research and

experimental development refund (15,927) (52,344)

Other R&D expenses 279,565 230,039

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Other research and development expenses 1,553,390 1,219,460

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During the nine month period ending September 30, 2007, our R&D consulting fees were $180,043 compared to $134,650 for the nine month period ending September 30, 2007. During this period of 2007, we incurred consulting activity associated with our ongoing clinical trials and assistance with our clinical trial applications. During this period of 2006, our consulting activity related to our ongoing clinical trials.

Our R&D salaries and benefits costs were $1,109,709 for the nine month period ending September 30, 2007 compared to $907,115 for the nine month period ending September 30, 2006. The increase is a result of increases in salary and staff levels along with the addition of our Vice President of Intellectual Property i
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Oncolytics Biotech Inc. Announces 2007 Third Quart...(pect that pre-clinical trialexpenses and...)