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

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Cash provided by financing

activities - 12,068,172 96,253,751

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Net increase in cash and cash

equivalents during the period 611,610 7,833,768 7,326,706

Cash and cash equivalents,

beginning of the period 6,715,096 3,491,511 -

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Cash and cash equivalents,

end of the period 7,326,706 11,325,279 7,326,706

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See accompanying notes

Oncolytics Biotech Inc.

NOTES TO FINANCIAL STATEMENTS

March 31, 2008 (unaudited)

1. INCORPORATION AND NATURE OF OPERATIONS

Oncolytics Biotech Inc. (the "Company" or "Oncolytics") was incorporated

on April 2, 1998 under the Business Corporations Act (Alberta) as 779738

Alberta Ltd. On April 8, 1998, the Company changed its name to Oncolytics

Biotech Inc.

The Company is a development stage biopharmaceutical company that focuses

on the discovery and development of pharmaceutical products for the

treatment of cancers that have not been successfully treated with

conventional therapeutics. The product being developed by the Company may

represent a novel treatment for Ras mediated cancers which can be used as

an alternative to existing cytotoxic or cytostatic therapies, as an

adjuvant therapy to conventional chemotherapy, radiation therapy, or

surgical resections, or to treat certain cellular proliferative disorders

for which no current thera
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SOURCE Oncolytics Biotech Inc.
Copyright©2008 PR Newswire.
All rights reserved

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