CALGARY, Nov. 5 /CNW/ -- Oncolytics Biotech Inc. (TSX:ONC, NASDAQ:ONCY) ("Oncolytics" or the "Company") today announced its financial results for the three and nine-month periods ended September 30, 2009.

"In the third quarter, we passed a number of key milestones in our evolving REOLYSIN(R) development program, including making progress on a number of Phase II clinical initiatives and in manufacturing," said Dr. Brad Thompson, President and CEO of Oncolytics. "Subsequent to quarter-end, we met our most important milestone to date in the advancement of our clinical program as we reached an agreement with the U.S. FDA on the design of a Phase 3 trial examining REOLYSIN in combination with paclitaxel and carboplatin in patients with platinum-refractory head and neck cancers."

Selected Third Quarter Highlights:
During the quarter, the Company announced:
-   Conclusion of patient enrollment in the Phase II component of the
Company's U.K. REOLYSIN and paclitaxel/carboplatin clinical trial
(REO 11);
-   Successful completion of the lyophilized (freeze-dried) formulation
development program for REOLYSIN;
-   Successful completion of an initial 100-litre production run of
REOLYSIN under cGMP conditions;
-   The grant of the Company's 32nd U.S. Patent, No. 7,582,289, entitled
"Viruses for the Treatment of Cellular Proliferative Disorders" with
the claims covering methods of using modified parapoxvirus orf virus
to treat Ras-mediated cancers;
-   Acceleration of the warrant expiry date on warrants issued in
connection with a financing completed in December 2008; and
-   The start of enrollment in a U.S. Phase 2 clinical trial using
intravenous administration of REOLYSIN in combination with paclitaxel
and carboplatin in patients with metastatic melanoma being conducted
at the Cancer Therapy & Research Center at the University of Texas
Health Science Center (CTRC).
Latest Highlights
Subsequent to quarter end, the Company announced:
-   An agreement with the U.S. Food and Drug Administration (FDA) under
the Special Protocol Assessment (SPA) process for the design of a
Phase 3 trial examining REOLYSIN in combination with paclitaxel and
carboplatin in patients with platinum-refractory head and neck
cancers;
-   Acceleration of the warrant expiry date on warrants issued in
connection with a financing completed in May 2009;
-   Grant of the Company's 33rd U.S. Patent, No.