CALGARY, May 12 /CNW/ - Oncolytics Biotech Inc. (TSX:ONC, NASDAQ: ONCY)
("Oncolytics" or the "Company") reports a correction of a formatting
error in its first quarter news release issued on May 12, 2011. The
warrant liability line in the consolidated statement of financial
position should read $nil, $5,536,800 and $1,023,051 for March 31,
2011, December 31, 2010, and January 1, 2010, respectively. The amounts
reported in the total current liabilities line are correct.
Reference may be made to the unaudited interim consolidated financial
statements of Oncolytics for the period ended March 31, 2011, which
reflect the amounts correctly and are available under the Company's
profile on SEDAR at www.sedar.com or at www.oncolyticsbiotech.com.
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 3 trial in head and neck cancers using REOLYSIN®, its proprietary formulation of the human reovirus. For further
information about Oncolytics, please visit: www.oncolyticsbiotech.com.
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 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 2011 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, the 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.
SOURCE Oncolytics Biotech Inc.
For further information:
| The Equicom Group |
300 - 5th Ave. SW, 10th Floor
Calgary, Alberta T2P 3C4
| || || || || || || || || || || || || The Investor Relations Group |
11 Stone St, 3rd Floor
New York, NY 10004