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Offerings: OncoGenex Raises $50 Million

October 25, 2010 (FinancialWire) (http://www.financialwire.net/) — OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) said that it has completed a public offering of 3,174,602 units at a price to the public of $15.75 per unit for an aggregate offering amount of $50 million.

The company saw net proceeds of around $46.7 million.

OncoGenex plans to use the net proceeds from the offering primarily to advance its product pipeline, including its lead program, custirsen, and OGX-427, which is currently in clinical development as a treatment for prostate cancer and bladder cancer, as well as for general corporate purposes. 

Washington-based OncoGenex is a biopharmaceutical company focused on the development and commercialization of new cancer therapies that address treatment resistance in cancer patients. 

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