Key Developments For OncoGenex Pharmaceuticals, Inc.
OncoGenex Pharmaceuticals, Inc. (OGXI.O) (Consolidated Issue listed on NASDAQ Global Market)
FDA Grants Additional Fast Track Designation For OncoGenex Pharmaceuticals Inc's OGX-011
OncoGenex Pharmaceuticals Inc announced that OGX-011, also known as custirsen sodium, received an additional Fast Track Designation from the United States Food & Drug Administration (FDA) for progressive metastatic prostate cancer in combination with first-line docetaxel treatment. Based on this designation, the FDA will take actions as appropriate to expedite the development and review of OGX-011 for approval. These actions include scheduled meetings to obtain FDA input into development plans, and the option of submitting a New Drug Application in sections rather than all components simultaneously.
OncoGenex Pharmaceuticals Inc Announces Issuance of Key Patent for OGX-011
OncoGenex Pharmaceuticals Inc announced that the United States Patent and Trademark Office (PTO) has issued United States Patent Number 7,569,551 entitled Chemo-and Radiation-sensitization of Cancer by Antisense TRPM-2 Oligodeoxynucleotides, on the method of using OncoGenex' lead cancer drug candidate, OGX-011, to treat certain cancers. The patent, licensed from The University of British Columbia, includes coverage for the method for treating cancers that express the protein clusterin using OGX-011, or any other clusterin antisense oligonucleotide, in combination with any chemotherapeutic agent or radiation therapy.
OncoGenex Pharmaceuticals Inc Completes $9.5 Million Registered Direct Offering
OncoGenex Pharmaceuticals Inc announced that it has completed its registered direct offering, previously announced on July 20, 2009, of 475,000 shares of its common stock to institutional investors at a price of $20.00 per share, for gross proceeds to the Company of approximately $9.5 million. After deducting the estimated offering expenses payable by the Company, the net proceeds are expected to be approximately $9.4 million. The Company plans to use the net proceeds from the offering primarily for manufacturing readiness activities and general corporate purposes.
OncoGenex Pharmaceuticals Inc To Raise $9.5 Million Through Sale Of Common Stock
OncoGenex Pharmaceuticals Inc announced that it has entered into purchase agreements with certain institutional investors for the sale of 475,000 shares of its common stock at a price of $20 per share through a registered direct offering. The transaction is expected to provide gross proceeds of $9.5 million to OncoGenex before deducting costs associated with the offering, and will be used primarily for manufacturing activities and general corporate purposes. The parties expect to close the transaction on or about July 24, 2009. The shares of common stock offered by OncoGenex in this transaction will be issued pursuant to the Company's existing shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission on July 17, 2009. There was no placement agent in this transaction.
OncoGenex Pharmaceuticals Inc Files Shelf Registration Statement
OncoGenex Pharmaceuticals Inc announced that it has filed a shelf registration statement on Form S-3 with the US Securities and Exchange Commission and an MJDS prospectus under the multi-jurisdictional disclosure system in the Province of British Columbia. OncoGenex elected to terminate its previous shelf registration statement originally filed in July 2007. If declared effective by the SEC and the British Columbia Securities Commission, the shelf registration statement and MJDS prospectus, respectively, will permit OncoGenex Pharmaceuticals to sell, from time to time over a three year period in one or more public offerings, shares of its common stock, shares of its preferred stock, warrants to purchase its common stock or preferred stock or debt securities, or any combination of such securities, for proceeds in the aggregate amount of up to $100 million. The terms of any such future offerings, if any, and the type of equity or debt securities would be established at the time of the offering.
