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Oncolytics Biotech Inc. Reports Highlights and Financial Results for 2007
Date:3/6/2008

- - 42,856,898

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

Cash provided

by financing

activities 12,114,394 241,400 18,780,189 96,253,751

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Net increase

(decrease) in

cash and cash

equivalents

during the

period 3,223,585 (19,846) (8,897,159) 6,715,096

Cash and cash

equivalents,

beginning of

the period 3,491,511 3,511,357 12,408,516 -

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

Cash and cash

equivalents,

end of the

period 6,715,096 3,491,511 3,511,357 6,715,096

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

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

Cash interest

received 1,392,866 940,100 993,097

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

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To view the Company's Financial Statements and Management's Discussion and Analysis, please see the Company's 2007 Annual Filings which will be available on http://www.sedar.com and http://www.oncolyticsbiotech.com.

About Oncolytics Biotech Inc.

Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics. Oncolytics' clinical program includes a variety of Phase I/II and Phase II human trials using REOLYSIN(R), its proprietary formulation of the human reovirus, alone and in combination with radiation or chemotherapy. For further i
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SOURCE Oncolytics Biotech Inc.
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