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OncoGenex Pharmaceuticals, Inc. Provides Update on Clinical Development Program and Reports Financial Results for Fourth Quarter and Year End 2012

98 per diluted common share, and $14.7 million, or $1.51 per diluted common share, respectively. The net loss in the years ended December 31, 2012 and 2011 included a non-cash gain on revaluation of our warrant liability of $4.5 million and $7.4 million, respectively. 
  • We had $75.4 million in cash, cash equivalents and short-term investments as of December 31, 2012, compared to $64.9 million as of December 31, 2011.
  • 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 $35 million.
  • Based on our current expectations, we believe our capital resources as of December 31, 2012 will be sufficient to fund our currently planned operations into 2015.
  • At March 7, 2013, we had 14,658,766 shares outstanding.
  •  Consolidated Statements of Loss(In thousands, except per share and share data)(unaudited)Three months ended December 31,Year ended December 31,2012201120122011Collaboration revenue$
    5,496Operating expenses:  Research and development15,6457,47739,94821,553  General and administrative2,0421,7317,7916,230  Restructuring gain(1,657)-(1,657)-Total operating expenses16,0309,20846,08227,783Loss from operations6,2507,97225,98722,287  Other income (expense)2,147(1,596)4,8897,614Loss for the period before income taxes(4,103)(9,568)(21,098)(14,673)  Income taxes----Net loss$
    (9,568)$   (21,098)$ (14,673)Basic and diluted net loss per share$
    (1.51)Weighted average number of basic and diluted common shares14,656,7939,748,63913,522,7239,729,340Consolidated Balance Sheets(In thousands) December 31,  December 31, 20122011 (unaudited) Assets:  Cash, cash equivalents, short term investments and restricted cash$

    SOURCE OncoGenex Pharmaceuticals, Inc.
    Copyright©2012 PR Newswire.
    All rights reserved

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