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OncoGenex Cash To Last Into 2010

Luke Timmerman 3/11/09

OncoGenex Pharmaceuticals, the Bothell, WA-based developer of cancer drugs, said today it had $12.4 million in cash and investments left at the end of 2008, which ought to be enough to fund its operations through February 2010. OncoGenex (NASDAQ: OGXI) hopes to use the cash to further develop its experimental prostate cancer drug which showed in a clinical trial in December that it helped patients live about 10 months longer than if they got chemotherapy alone.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.

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