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Oncolytics Biotech Inc. Announces 2008 Second Quarter Results
Date:7/29/2008

activity in conjunction with these six criteria to ensure we record our intellectual property expenditures in line with Section 3064.

The impact of the early adoption of Section 3064 on our previously reported consolidated balance sheets is as follows:

March 31, December 31, December 31,

2008 2007 2006

Consolidated Balance Sheet $ $

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Intellectual Property

Intellectual property,

previously reported 5,006,297 5,026,540 5,079,805

Adjustment, adoption of

Section 3064 (4,554,422) (4,484,290) (4,176,055)

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Intellectual property, restated 451,875 542,250 903,750

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Deficit

Deficit, previously reported (83,846,498) (80,522,257) (65,030,066)

Adjustment, adoption of

Section 3064 (4,554,422) (4,484,290) (4,176,055)

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Deficit, restated (88,400,920) (85,006,547) (69,206,121)

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The impact of the early adoption of Section 3064 on our previously reported consolidated statements of loss, comprehensive loss and cash flows is as follows:

Cumulative

from


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SOURCE Oncolytics Biotech Inc.
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