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OncoGenex Pharmaceuticals, Inc. Prices $50 Million Public Offering

Stocks in this article: OGXI

BOTHELL, WA and VANCOUVER, March 16, 2012 /PRNewswire/ - OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) today announced that it has priced an underwritten public offering of 4,165,000 shares of its common stock at a purchase price of $12.00 per share.  Net proceeds, after estimated underwriting discounts and commissions and estimated expenses, will be approximately $46.8 million.  OncoGenex granted the underwriters a 30-day option to purchase up to an additional 624,750 shares of common stock to cover overallotments, if any.  The offering is expected to close on or about March 21, 2012, subject to customary closing conditions.

Leerink Swann LLC and Stifel Nicolaus Weisel are acting as joint book-running managers and Lazard Capital Markets LLC and William Blair & Company, L.L.C. are acting as co-managers.

The offering is being made to purchasers pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission, or SEC.  A prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC.  When available, copies of the prospectus supplement and accompanying prospectus may be obtained by contacting Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, Massachusetts 02110, (800) 808-7525, or Stifel, Nicolaus & Company, Incorporated, Attention: General Counsel, One Montgomery Street, Suite 3700, San Francisco, California 94104, (415) 364-2500.  Electronic copies of the prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of common stock of OncoGenex, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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