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

ets

(1),(4) 27,408 30,782 33,897 37,670 41,775 33,566 37,980 40,828

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Total

cash

(2),(4) 21,963 25,214 28,191 31,533 35,681 27,614 31,495 34,501

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Total

long-term

debt(5) - - - - - 150 150 150

-------------------------------------------------------------------------

Cash

dividends

declared(6) Nil Nil Nil Nil Nil Nil Nil Nil

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(1) Subsequent to the acquisition of Oncolytics Biotech Inc. by SYNSORB

in April 1999, we applied push down accounting. See note 2 to the

audited financial statements for 2007.

(2) Included in total cash are cash and cash equivalents plus short-term

investments.

(3) Included in net loss and loss per common share between March 2008 and

April 2006 are quarterly stock based compensation expenses of

$19,593, $396,278, $38,909, $82,573, $21,396, $109,670, $34,671, and

$222,376, respectively.

(4) We issued 4,600,000 units for net cash proceeds of $12,063,394 during

2007 with each unit consisting of one common share and one half of

one common share purchase warrant. (2006 - 284,000 common shares for

cash proceeds of $241,400)

(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 3 of the

December 31, 2007 audited financial statements).

(6) We have not declared or paid any dividends since incorporation. <
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SOURCE Oncolytics Biotech Inc.
Copyright©2008 PR Newswire.
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