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OncoGenex Pharmaceuticals, Inc. Reports Financial Results for Second Quarter 2011 and Provides Update on Development Activities

it the potential benefits of our product and the other factors described in our risk factors set forth in our filings with the Securities and Exchange Commission from time to time, including the Company's Quarterly Report on Form 10-Q for second quarter ended June 30, 2011. The Company undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.Condensed Consolidated Statements of Operations

(in thousands)Three monthsSix monthsEnded June 30,Ended June 30,2011201020112010(unaudited)



(unaudited)Collaboration revenue

$ 1,887

$ 1,701

$ 3,086

$6,401Operating expensesResearch and development




9,459General and administrative




2,825Total operating expenses




12,284Loss from operations




5,883Other income (expense)




(7)Loss for the period before taxes




5,890Income tax expense (recovery)


(3,000)Net loss

$ 6,530

$ (154)

$ 9,575

$ 2,890Basic and diluted loss per common share




0.45Weighted average number of common shares Basic








6,366,861Condensed Consolidated Balance Sheets

(in thousands)June 30,December 31,20112010(unaudited)Assets:Cash, cash equivalents and short term investments


$ 85,107Amounts receivable


1,224Prepaid and other current assets


2,987Property, equipmen

SOURCE OncoGenex Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
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