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June 26, 2014
17:36 EDTOGXIOncoGenex sees having enough funds for operations into Q315
From April 1 through the date of this Current Report on Form 8-K, OncoGenex Pharmaceuticals has offered and sold 809,214 shares of its common stock pursuant to its At-the-Market Issuance Sales Agreement with MLV & Co. LLC. These sales resulted in net proceeds to the company of approximately $2.9M. Prior to these sales, the company had not made any sales under this “at the market” equity offering program, and, as the date of this Current Report on Form 8-K, shares of the company’s common stock having an aggregate value of approximately $22M remained available for sale under this offering program. Based on the company’s current expectations and operating plans, and before giving effect to the receipt of net proceeds from its proposed offering of securities, the company believes that its cash, cash equivalents, short-term investments and receivables from its collaboration arrangement with Teva will be sufficient to fund its current planned operations into the third quarter of 2015.
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