OncoGenex Pharmaceuticals, the Bothell, WA-based developer of cancer drugs, said today it had $12.4 million in cash and investments left at the end of 2008, which ought to be enough to fund its operations through February 2010. OncoGenex (NASDAQ: [[ticker:OGXI]]) hopes to use the cash to further develop its experimental prostate cancer drug which showed in a clinical trial in December that it helped patients live about 10 months longer than if they got chemotherapy alone.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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