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Oncolytics Biotech Inc. Announces 2008 First Quarter Results
Date:4/30/2008

74,400 87,981

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Other research and development expenses 579,926 552,146

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During the first quarter of 2008, our R&D consulting fees were $27,408 compared to $91,776 for the first quarter of 2007. In the first quarter of 2007, we incurred consulting activity associated with our co-therapy clinical trial applications that was not incurred in the first quarter of 2008.

Our R&D salaries and benefits costs were $478,118 for the first quarter of 2008 compared to $372,389 for the first quarter of 2007. The increase is a result of increases in salary levels for 2008 compared to 2007.

We still expect that our Other R&D expenses will remain consistent with 2007.

Operating Expenses

2008 2007

$ $

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Public company related expenses 759,970 581,876

Office expenses 324,284 324,839

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Operating expenses 1,084,254 906,715

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During the first quarter of 2008, our public company related expenses were $759,970 compared to $581,876 for the first quarter of 2007. In the first quarter of 2008, we incurred an increase in professional fees associated with the expansion of our corporate structure, an in
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SOURCE Oncolytics Biotech Inc.
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