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

of

$38,909, $82,573, $21,396, $109,670, $34,671, $222,376, $36,833, and

$38,152, respectively.

(4) We issued 4,600,000 common shares for net cash proceeds of

$12,063,394 during 2007 (2006 - 284,000 common shares for cash

proceeds of $241,400; 2005 - 4,321,252 common shares for cash

proceeds of $18,789,596).

(5) The long-term debt recorded represents repayable loans from the

Alberta Heritage Foundation. On January 1, 2007, in conjunction with

the adoption of the CICA Handbook section 3855 "Financial

Instruments", this loan was recorded at fair value (see note 1 of the

September 30, 2007 interim financial statements).

(6) We have not declared or paid any dividends since incorporation.

LIQUIDITY AND CAPITAL RESOURCES

As at September 30, 2007, we had cash and cash equivalents (including short-term investments) and working capital positions of $28,191,464 and $26,343,848, respectively compared to $27,613,748 and $25,719,870, respectively for December 31, 2006. The increase in 2007 reflects the cash inflow from financing activities of $12,063,394 offset by cash usage from operating activities and additions to our intellectual property of $10,849,863 and $586,124, respectively.

We desire to maintain adequate cash and short-term investment reserves to support our planned activities which include our clinical trial program, product manufacturing, administrative costs, and our intellectual property expansion and protection. For the remainder of 2007, we are expecting to continue to enroll patients in our existing trials and we also expect to expand our clinical trial program. As well, we expect to continue with our collaborative studies pursuing support for our future clinical trial program. We will therefore need to ensure that we have enough REOLYSIN(R) to supply our clinical trial and collaborative programs. We continue to expect our cash usage i
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SOURCE Oncolytics Biotech Inc.
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