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

ivity.

During the six month period ending June 30, 2008, our office expenses were $576,849 compared to $597,646 for the six month period ending June 30, 2007. Our office expense activity has remained consistent in the first half of 2008 compared to the first half of 2007.

Stock Based Compensation

2008 2007

$ $

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Stock based compensation 37,616 103,969

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Stock based compensation for the six month period ending June 30, 2008 was $37,616 compared to $103,969 for the six month period ending June 30, 2007. In the first half of 2008 and 2007, we incurred stock based compensation associated with the vesting of options previously granted.

Commitments

As at June 30, 2008, we are committed to payments totaling $1,992,000 for activities related to manufacturing, clinical trial activity and collaborations. All of these committed payments are considered to be part of our normal course of business.

SUMMARY OF QUARTERLY RESULTS

The following unaudited quarterly information is presented in thousands of dollars except for per share amounts:

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2008 2007 2006

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June March Dec. Sept. June March Dec. Sept.

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Revenue
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SOURCE Oncolytics Biotech Inc.
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