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

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Balance, December 31, 2007 80,522,257

Net loss, March 31, 2008 3,324,241

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Balance, March 31, 2008 83,846,498

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(1) On January 1, 2007, the Company adopted, without restatement, CICA

Handbook Section 3855 "Financial Instruments - Recognition and

Measurement" and Section 1530 "Other Comprehensive Income". Pursuant

to the transitional provisions of Section 3855, the Company

classified its short-term investments as held-to-maturity fixed

income securities and recorded its Alberta Heritage Foundation

interest free loan at fair value. As a result, there were no

adjustments made to short-term investments or other comprehensive

income and there was a decrease in the Alberta Heritage Foundation

loan of $150,000 with a corresponding decrease of $150,000 in the

Company's deficit.

5. ADDITIONAL CASH FLOW DISCLOSURE

Net Change in Non-Cash Working Capital

Cumulative

from

Three Month Three Month inception

Period Period on April 2,

Ended Ended 1998 to

March 31, March 31, March 31,

2008 2007 2008


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SOURCE Oncolytics Biotech Inc.
Copyright©2008 PR Newswire.
All rights reserved

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