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OncoGenex Pharmaceuticals, Inc. Provides Clinical Development Program Overview and Reports Financial Results for First Quarter 2013
Date:5/2/2013

net loss for the first quarter of 2013 included a non-cash gain on revaluation of the Company's warrant liability of $1.4 million compared with a $1.4 million non-cash loss on revaluation of the warrant liability in the same period in 2012.
  • The Company had $64.6 million in cash, cash equivalents and short-term investments as of March 31, 2013, compared with $75.4 million as of December 31, 2012.
  • 2013 cash guidance:
  • Net cash requirements are expected to be in the range of $40 million to $50 million.
  • Year-end cash, cash equivalents and investments are expected to be in the range of $25 million to $35 million.
  • Based on current expectations, the Company believes its capital resources as of March 31, 2013 will be sufficient to fund its currently planned operations into 2015.
  • At May 2, 2013, the Company had 14,670,395 shares outstanding.
  •  Consolidated Statements of Loss(In thousands, except per share and share data)(unaudited)Three months ended March 31,20132012Collaboration revenue$
    5,076$
    ,316Operating expenses:  Research and development10,8555,082  General and administrative2,5001,737Total operating expenses13,3556,819Loss from operations(8,279)(5,503)  Other income (expense)1,582(1,357)Net loss$
    (6,697)$
    (6,860)Basic and diluted net loss per share$
    (0.46)$
    (0.67)Weighted average number of basic and diluted common shares14,660,64310,235,237Consolidated Balance Sheets(In thousands) March 31,  December 31, 20132012 (unaudited) Assets:  Cash, cash equivalents, short term investments and restricted cash$
    4,903$
    75,697  Interest receivable321327  Amounts receivable5,156714  Prepaid and other assets4,5374,907  Property, equipment and other assets437371Total assets$
    75,354$
    82,016Liabilities and stockholders' equity:  Accounts payable and accrued liabilities$
    7,925$
    7,050  Current portion o
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    SOURCE OncoGenex Pharmaceuticals, Inc.
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