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OncoGenex to Webcast Discussion of First Quarter Financial Results on Monday, May 9, 2011

BOTHELL, WA and VANCOUVER - May 2, 2011 - OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) announced that the Company's first quarter 2011 financial results will be released on Monday, May 9, 2011 after the NASDAQ Global Market closes at 4:00 p.m. ET, and that the Company will host a conference call and live webcast at 4:30 p.m. ET that afternoon. Management will discuss the company's financial results and provide an update on the business.

To access the webcast, log on to the Investor Relations page of the OncoGenex website at www.oncogenex.com. Alternatively, you may access the live conference call by dialing (877) 606-1416 (U.S. & Canada) or (707) 287-9313 (International). A webcast replay will be available approximately two hours after the call and will be archived on www.oncogenex.com for 90 days.

AboutOncoGenex Pharmaceuticals
OncoGenex is a biopharmaceutical company committed to the development and commercialization of new cancer therapies that address treatment resistance in cancer patients. OncoGenex has a diverse oncology pipeline, with each product candidate having a distinct mechanism of action and representing a unique opportunity for cancer drug development.OncoGenexandTeva Pharmaceutical Industries Ltd. (NASDAQ: TEVA) have entered a global collaboration and license agreement to develop and commercialize OncoGenex' lead drug candidate, custirsen. Custirsen is currently in Phase 3 clinical development as a treatment in men with metastatic castrate-resistant prostate cancer. The companies plan to begin Phase 3 development of custirsen in first-line treatment of advanced, unresectable non-small cell lung cancer in 2011. OGX-427 is in Phase 2 clinical development; CSP-9222 and OGX-225 are currently in pre-clinical development.

SOURCE OncoGenex Pharmaceuticals, Inc.