Oncolytics Biotech Inc. Announces 2007 Third Quart... (month periodending September 30 2006. Ou...)

Oncolytics Biotech Inc. Announces 2007 Third Quarter Results

Date:10/30/2007

month period ending September 30, 2006. Our office expense activity has remained consistent in 2007 to date compared to 2006 with increases mainly due to increased compensation levels and a general increase in office costs.

Stock Based Compensation

2007 2006

$ $

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Stock based compensation 142,878 293,880

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Stock based compensation for the nine month period ending September 30, 2007 was $142,878 compared to $293,880 for the nine month period ending September 30, 2006. During this period of 2007, we incurred stock based compensation associated with the vesting of options previously granted. In 2006, we incurred stock based compensation associated with the issue and immediate vesting of stock options to our two newly appointed directors and the vesting of previously granted options.

Commitments

As at September 30, 2007, we are committed to payments totaling $1,162,000 for the remainder of 2007 for activities related to clinical trial activity and collaborations. All of these committed payments are considered to be part of our normal course of business.

SUMMARY OF QUARTERLY RESULTS

The following unaudited quarterly information is presented in thousands of dollars except for per share amounts:

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2007 2006 2005

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Sept. June March Dec. Sept. June March Dec.

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Oncolytics Biotech Inc. Announces 2007 Third Quart...(month periodending September 30 2006. Ou...)