Oncolytics Biotech(R) Inc. Announces Exercise of Underwriters' Over-Allotment Option
Together with the units sold on
Oncolytics intends to use the net proceeds from the offering to fund its previously announced Phase III combination REOLYSIN(R) and paclitaxel/carboplatin trial for patients with platinum-failed head and neck cancers, its other clinical development and research and development activities, and for general corporate and working capital purposes.
"Completing this financing further strengthens our balance sheet and will allow us to proceed beyond the 80 patient first stage of enrollment in our Phase III clinical trial, while giving us improved flexibility in reviewing partnering options," said
The securities were offered in each of the Canadian provinces of British Columbia, Alberta, Manitoba and Ontario by way of a prospectus supplement to Oncolytics' base shelf short form prospectus and in the
Oppenheimer & Co. Inc. Attention: Syndicate Prospectus Department 300 Madison Avenue, 5th Floor New York, NY, 10017 Telephone number: (212) 667-8563 Email: EquityProspectus@opco.com Canaccord Adams Inc. Attention: Ron Sedran Brookfield Place 161 Bay Street, Suite 3000 Toronto, Ontario, Canada M5J 2S1 Telephone number (416) 869-3198 Email: firstname.lastname@example.org
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration of qualification under the securities laws of any state or jurisdiction.
About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics. Oncolytics' clinical program includes a variety of human trials including a Phase III trial in head and neck cancers using REOLYSIN, its proprietary formulation of the human reovirus.
This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including the Company's expectations related to use of net proceeds; the Company's belief as to the potential of REOLYSIN as a cancer therapeutic; the Company's expectations as to the success of its research and development programs in 2009 and beyond, the Company's planned operations, the value of the additional patents and intellectual property; the Company's expectations related to the applications of the patented technology; the Company's expectations as to adequacy of its existing capital resources; the design, timing, success of planned clinical trial programs; and other statements related to anticipated developments in the Company's business and technologies involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, exercise of the over-allotment option by the underwriters, use of net proceeds, availability of funds and resources to pursue research and development projects, the efficacy of REOLYSIN as a cancer treatment, the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize REOLYSIN, uncertainties related to the research and development of pharmaceuticals, uncertainties related to the regulatory process and general changes to the economic environment. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake to update these forward-looking statements, except as required by applicable laws.
%SEDAR: 00013081EFor further information: The Equicom Group: Nick Hurst, 300 5th Ave. SW, 10th Floor, Calgary, Alberta, T2P 3C4, Tel: (403) 218-2835, Fax: (403) 218-2830, email@example.com; The Investor Relations Group: Erika Moran, 11 Stone St, 3rd Floor, New York, NY, 10004, Tel: (212) 825-3210, Fax: (212) 825-3229, firstname.lastname@example.org