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OncoGenex Pharmaceuticals, Inc. Provides Clinical Development Program Overview and Reports Financial Results for Second Quarter 2013
Date:8/8/2013

th ABRAXANE® (paclitaxel protein-bound particles for injectable suspension)(albumin-bound) and gemcitabine in approximately 130 patients with previously untreated metastatic pancreatic cancer. Plans for Rainier were announced in May 2013 and patient enrollment is expected to begin in mid-2013.
  • The Pacific™ Trial is an investigator-sponsored, randomized, open-label Phase 2 trial evaluating apatorsen in approximately 80 men with metastatic CRPC who are experiencing rising prostate-specific antigen (PSA) while receiving Zytiga® (abiraterone acetate). The trial was initiated in December 2012 and is currently enrolling at sites in the United States and Canada.
  • Second Quarter 2013 Financial Update and Results

  • Revenue for the three and six months ended June 30, 2013 increased to $6.3 million and $11.4 million, respectively. This compares to $2.4 million and $3.7 million, respectively, in the same periods in 2012. The increases in 2013 compared to 2012 were due to an increase in revenue earned through the Company's strategic collaboration with Teva, as a result of the clinical development activities associated with the AFFINITY trial that was initiated in August 2012.
  • Total operating expenses for the three and six months ended June 30, 2013 increased to $15.7 million and $29.1 million, respectively, compared to $8.4 million and $15.2 million, respectively, in the same periods in 2012. The increases in 2013 compared to 2012 were due primarily to increased clinical trial expenses associated with patient enrollment in the AFFINITY and Borealis-1 trials, higher costs directly associated with efforts to increase patient enrollment, increased employee expenses due to an increase in the number of employees to support our clinical development activities and increased toxicology and preclinical expenses related to apatorsen. These increases were partially off
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  • SOURCE OncoGenex Pharmaceuticals, Inc.
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