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<SEC-DOCUMENT>0000950123-09-010622.txt : 20090603
<SEC-HEADER>0000950123-09-010622.hdr.sgml : 20090603
<ACCEPTANCE-DATETIME>20090602185907
ACCESSION NUMBER:		0000950123-09-010622
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20090530
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090603
DATE AS OF CHANGE:		20090602

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ONCOGENEX PHARMACEUTICALS, INC.
		CENTRAL INDEX KEY:			0000949858
		STANDARD INDUSTRIAL CLASSIFICATION:	IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
		IRS NUMBER:				954343413
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-80623
		FILM NUMBER:		09869520

	BUSINESS ADDRESS:	
		STREET 1:		1522 217TH PLACE S.E.
		CITY:			BOTHELL
		STATE:			WA
		ZIP:			98021
		BUSINESS PHONE:		4254879500

	MAIL ADDRESS:	
		STREET 1:		1522 217TH PLACE S.E.
		CITY:			BOTHELL
		STATE:			WA
		ZIP:			98021

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SONUS PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19950825
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c86406e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">
<DIV style="font-size: 10pt">
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 2pt solid">&nbsp;</DIV>
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 1pt solid">&nbsp;</DIV>

<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): May 30, 2009</B>


<P style="font-size: 24pt" align="center"><B>ONCOGENEX PHARMACEUTICALS,
INC.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>033-80623</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>95-4343413</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>1522 217th Place
S.E.<BR>
Bothell, Washington<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>98021</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(425) 686-1500</B>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="30%" border="0">

 <TR>
  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B>N/A<BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<DIV
style="margin-top: 10pt; font-size: 1pt; width: 100%; border-bottom: black 1pt solid">&nbsp;</DIV>
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 2pt solid">&nbsp;</DIV>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">1
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="left"><B>Item</B>&nbsp;<B>7.01
Regulation&nbsp;FD Disclosure.</B> <BR>
&nbsp; <BR>
On May&nbsp;30, 2009,
OncoGenex Pharmaceuticals, Inc. issued two press releases entitled
&#8220;OncoGenex Pharmaceuticals Announces OGX-011 Treatment Provides Survival
Benefit in Randomized Phase 2 Trial in Advanced Metastatic Prostate
Cancer&#8221; and &#8220;OncoGenex Pharmaceuticals Announces OGX-427 Treatment
Demonstrates Safety, Evidence of Declines in Circulating Tumor Cells and
Reductions in Tumor Markers in a Phase 1 Cancer Trial.&#8221; A copy of the
press releases are attached as Exhibit&nbsp;99.1 and 99.2, respectively, and
incorporated herein by reference. <BR>
&nbsp; <BR>
In accordance with General
Instruction B.2 of Form&nbsp;8-K, the information in this report, including the
exhibit attached hereto, shall not be deemed &#8220;filed&#8221; for purposes
of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the
&#8220;Exchange Act&#8221;), nor shall such information be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as shall be expressly set forth by specific reference in
such a filing.

<P style="font-size: 10pt" align="left"><B>Item&nbsp;9.01 Financial Statements
and Exhibits.</B>

<P style="font-size: 10pt; text-indent: 2%" align="left">(d)&nbsp;Exhibits
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="8%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="87%">&nbsp;</TD>
 </TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">Exhibit&nbsp;No. </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="center">Description</TD>
 </TR>
 <TR style="font-size: 1px">
  <TD style="border-top: #000000 1px solid" valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD style="border-top: #000000 1px solid" valign="top"
align="left">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">99.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Press release of OncoGenex Pharmaceuticals,
Inc. dated May&nbsp;30, 2009</TD>
 </TR>
<tr><td>&nbsp;</td></tr>

 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">99.2 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Press release of OncoGenex Pharmaceuticals,
Inc. dated May&nbsp;30, 2009</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="font-size: 10pt" align="center">&nbsp;

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt" align="left">Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

<P style="font-size: 10pt; margin-left: 45%" align="left">ONCOGENEX
PHARMACEUTICALS, INC.

<P style="font-size: 10pt" align="left">Date: June&nbsp;2, 2009

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 45%"
align="left"><u>/s/ Stephen Anderson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>Stephen Anderson<BR>
Chief Financial Officer and Secretary

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">3
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

</TABLE>


<P style="font-size: 10pt" align="center"><B>EXHIBIT INDEX</B><BR>
&nbsp;
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="8%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="87%">&nbsp;</TD>
 </TR>
 <TR style="font-size: 10pt" valign="bottom">
  <TD style="border-bottom: #000000 1px solid" nowrap align="left"><B>Exhibit
No.</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid" nowrap
align="center"><B>Description</B></TD>
 </TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">99.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Press release of OncoGenex Pharmaceuticals,
Inc. dated May&nbsp;30, 2009</TD>
 </TR>
<tr><td>&nbsp;</td></tr>
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">99.2 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Press release of OncoGenex Pharmaceuticals,
Inc. dated May&nbsp;30, 2009</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">4
</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c86406exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><IMG src="c86406p8640601.gif" alt="(ONCOGENEX LOGO)">
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>OncoGenex Pharmaceuticals Announces OGX-011 Treatment Provides Survival<BR>
Benefit in Randomized Phase 2 Trial in Advanced Metastatic Prostate Cancer</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><I>Webcast at 7:10 p.m. Eastern Time Today</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">BOTHELL, WA, and VANCOUVER, May&nbsp;30, 2009 &#151; OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) today
announced the final results of a Randomized Phase 2 Trial presented during an oral presentation at
the American Society of Clinical Oncology (ASCO)&nbsp;Annual Meeting. Analyses indicated a survival
benefit in patients treated with OGX-011 in combination with docetaxel compared to docetaxel alone
&#151; the current standard care for patients with advanced prostate cancer:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The median overall survival in patients with advanced metastatic prostate cancer who
were treated with OGX-011 plus docetaxel in a randomized Phase 2 trial was 23.8&nbsp;months
compared to 16.9&nbsp;months for patients treated with docetaxel alone &#151; a 6.9&nbsp;month observed
survival advantage for the OGX-011 arm.</TD>
</TR>

<TR style="font-size: 8pt">
    <TD>&nbsp;</TD>
</TR> <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The unadjusted hazard ratio (HR), a measure used to compare the death rates between
treatment groups, was 0.61, representing a 39% lower rate of death for patients treated
with OGX-011.</TD>
</TR>

<TR style="font-size: 8pt">
    <TD>&nbsp;</TD>
</TR> <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A prospectively defined multivariate analysis indicated that the significant
predictors of overall survival were treatment arm, performance status, and presence of
metastases other than in bone or lymph nodes. Patients treated with OGX-011 had a rate of
death 51% lower than patients treated with docetaxel alone (HR=0.49; p=0.012). Additional
exploratory analyses found that the lower rate of death was associated with the effect of
OGX-011 treatment even when varying amounts of chemotherapy were administered (i.e.
OGX-011 treatment resulted in a lower rate of death when compared to the control arm for
patients receiving 6 or less cycles of chemotherapy as well as for patients receiving 10
cycles of chemotherapy).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Data were presented by Dr.&nbsp;Kim Nguyen Chi, Principal Investigator and a medical oncologist at BC
Cancer Agency &#151; Vancouver Centre, representing the NCIC &#151; Clinical Trials Group (NCIC-CTG). The
survival curves presented by Dr.&nbsp;Chi are available at www.oncogenex.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">&#147;A 6.9&nbsp;month median overall survival difference would represent a significant improvement over the
current standard docetaxel therapy,&#148; said Dr.&nbsp;Chi, Principal Investigator of the NCIC-CTG sponsored
trial and presenter of the data at ASCO. &#147;Docetaxel was approved in 2004 based on a 2.4&nbsp;month
survival advantage in advanced prostate cancer. The consistent results in favor of the OGX-011
treatment arm in this trial are a clear indication that Phase 3 trials are warranted.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">&#147;A 39% reduction in death, consistent with the previously disclosed preliminary analysis, would be
a significant advancement for treatment in this patient population,&#148; said Scott Cormack, president
and CEO of OncoGenex. &#147;The multivariate analysis shows an even greater reduction in death rate
than our preliminary data and increases our confidence that we are seeing a real and meaningful
survival benefit for patients treated with OGX-011 in this Phase 2 study.&#148;
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->Page 1 of 5<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>About the Randomized Phase 2 Trial and the Trial Results</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The trial enrolled 82 patients at 12 sites in Canada and the U.S. from September&nbsp;2005 to December
2006. Patients were randomized to one of two treatment arms to receive either 640 mg per week of
OGX-011 by intravenous infusion in combination with docetaxel and prednisone or docetaxel and
prednisone alone. Patients in both treatment arms receive therapy until disease progression,
toxicity or after receiving ten 3-week cycles of therapy. The primary endpoint of the trial was to
achieve a 50% reduction in PSA from baseline in over 50% of the patients treated with OGX-011 plus
docetaxel. Secondary endpoints included determining objective response and duration of response in
those patients with measurable disease at baseline, determining the tolerability and toxicity of
weekly OGX-011 and docetaxel when administered in combination, measuring the effect of OGX-011 plus
docetaxel or docetaxel alone on serum clusterin levels and describing time to progression and
overall patient survival. Baseline characteristics were well balanced between the treatment arms.
In addition to the survival results presented and based on a median follow-up of 32&nbsp;months, data
were presented as summarized below.
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The OGX-011 plus docetaxel arm met the primary endpoint of the trial given that 58% of
patients treated with OGX-011 plus docetaxel achieved confirmed PSA declines of 50% or
greater.</TD>
</TR>

<TR style="font-size: 8pt">
    <TD>&nbsp;</TD>
</TR> <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The median number of treatment cycles administered was 9 cycles in the OGX-011 plus
docetaxel arm compared to 7 cycles in the docetaxel arm. The majority of patients either
completed all 10 cycles of trial treatment (34 patients) or discontinued trial treatment
based on disease progression (23 patients) or adverse events (14 patients).</TD>
</TR>

<TR style="font-size: 8pt">
    <TD>&nbsp;</TD>
</TR> <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fewer than half as many patients in the OGX-011 plus docetaxel arm (7 patients)
discontinued trial treatment early for PSA progression and/or objective disease
progression compared to the docetaxel arm (16 patients). Of the 9 patients in the OGX-011
arm that discontinued for adverse events, 7 of these patients experienced adverse events
during the 8<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> and 9<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> treatment cycles.</TD>
</TR>

<TR style="font-size: 8pt">
    <TD>&nbsp;</TD>
</TR> <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Evidence of a pharmacodynamic effect in the OGX-011 plus docetaxel arm was observed
with statistically significant declines in serum clusterin levels within the first cycle
of trial treatment when compared to levels in the docetaxel arm. OGX-011 has been shown to
primarily target tissue clusterin levels with serum levels as an indicator of biological
effect.</TD>
</TR>

<TR style="font-size: 8pt">
    <TD>&nbsp;</TD>
</TR> <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Higher incidence of stable disease (20 patients in OGX-011 plus docetaxel arm versus 12
patients in docetaxel arm) with lower incidence of disease progression as best response (1
patient in OGX-011 plus docetaxel arm versus 4 patients in docetaxel arm) occurred in
patients with measurable disease who were treated with OGX-011 plus docetaxel compared to
the docetaxel arm; although, the incidence of overall response was comparable.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->Page 2 of 5<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">OGX-011 treatment was well tolerated in combination with docetaxel. There was an increase in
incidence of mild fever, chills and creatinine levels (a laboratory measure for reduced kidney
function) and a moderate to significant decrease in circulating lymphocytes in the blood (another
laboratory measure) without any increase in infection rate compared to the docetaxel arm. The
investigators concluded that the combination was well tolerated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Brent Blumenstein, an independent statistician who conducted additional sensitivity analyses of the
results, found that the survival benefit in the OGX-011 arm to be robust and not dependent on
clinical trial sites or baseline characteristics of the patients.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">&#147;There is a clear separation of the survival curves,&#148; said Blumenstein. &#147;A hazard ratio of 0.61
indicates a distinct difference in survival rates and fully justifies further Phase 3 trials. It is
rare for a new intervention at this stage of development to have such strong data from a randomized
clinical trial.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Cormack added, &#147;These data clearly justify advancing to Phase 3 development, and we expect these
data will be key in our partnering discussions for future clinical development and potential
commercialization.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The trial was supported by funding from the Canadian Cancer Society and was conducted by the NCIC
Clinical Trials Group (NCIC CTG) based at Queen&#146;s University in Kingston, Ontario. The trial was
further supported by an unrestricted grant from Sanofi-Aventis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Webcast and Conference Call Today</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">OncoGenex will hold a live webcast and conference call of presentations made at a Company hosted
reception during the 2009 American Society of Clinical Oncology Annual Meeting (ASCO)&nbsp;today, May
30, 2009. The webcast will begin at 7:10 p.m. EDT.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">During the reception, OncoGenex management and guest speakers will provide a comprehensive review
of the final results of the randomized Phase 2 trial presented at the ASCO Annual Meeting, as well
as discuss the treatment landscape and the relevance of clinical trial endpoints for prostate
cancer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">To access the webcast, log on to the Investor Relations page of the OncoGenex Web site at
www.oncogenex.com. Alternatively, you may access the live conference call by dialing 877-627-6544
(U.S. &#038; Canada) or 719-325-4857 (International). A webcast replay will be available approximately
two hours after the call and will be archived at www.oncogenex.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>About OGX-011</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">OGX-011 is designed to inhibit the production of clusterin, a protein that is associated with
cancer treatment resistance and is currently being evaluated in Phase 2 clinical trials in
prostate, lung and breast cancer. At the 2009 American Urological Association Annual Meeting,
OncoGenex reported Phase 2 data with OGX-011 in combination with second-line treatment of
metastatic castrate resistant prostate cancer showing better than expected survival results,
reductions in levels of clusterin, durable reductions in pain, and a decline in PSA, a protein that
is often elevated in patients with prostate cancer.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->Page 3 of 5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Based on clinical results to date, OncoGenex intends to conduct Phase 3 registration trials with
OGX-011 in metastatic castrate resistant prostate cancer, subject to the receipt of additional
funding. The U.S. Food &#038; Drug Administration (FDA)&nbsp;has agreed on the design of two Phase 3
registration trials, via the Special Protocol Assessment (SPA)&nbsp;process, of OGX-011 in combination
with second-line chemotherapy. One trial design investigates overall survival as the primary
endpoint; the other trial design investigates pain palliation as the primary endpoint. Based on the
survival benefit observed after combining OGX-011 with first-line docetaxel chemotherapy, OncoGenex
has initiated discussions with the FDA regarding evaluating the overall survival benefit in
patients treated with first-line chemotherapy, rather than second-line chemotherapy. OGX-011 has received Fast Track designation from the FDA for the treatment of progressive
metastatic prostate cancer in combination with docetaxel.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>About OncoGenex</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">OncoGenex is a biopharmaceutical company committed to the development and commercialization of new
therapies that address unmet needs in the treatment of cancer. OncoGenex has a deep oncology
pipeline, with each product candidate having a distinct mechanism of action and representing a
unique opportunity for cancer drug development. OGX-011, the lead candidate currently completing
five Phase 2 clinical trials in prostate, lung and breast cancers, is designed to inhibit the
production of a specific protein associated with treatment resistance; OGX-427 is in Phase 1
clinical development; SN2310 has completed the Phase 1 clinical trial; and CSP-9222 and OGX-225 are
currently in pre-clinical development.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">OGX-011, OGX-427 and OGX-225 utilize second-generation antisense technology, licensed from Isis
Pharmaceuticals (NASDAQ: ISIS), to effectively target and inhibit production of specific proteins
in tumor cells. OncoGenex and Isis partnered in the successful discovery of OGX-011, OGX-427 and
OGX-225 and with respect to OGX-011, in its initial development. In 2008, OncoGenex and Isis
amended their OGX-011 agreement to provide OncoGenex with sole rights to OGX-011 and sole
responsibility for development and related costs and partnering decisions, subject to financial
obligations to Isis. OncoGenex is also solely responsible for development and related costs and
partnering decisions regarding OGX-427 and OGX-225. Key intellectual property related to OGX-011,
OGX-427 and OGX-225 were discovered by the University of British Columbia and the Vancouver
Prostate Centre, and were exclusively licensed to OncoGenex.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">More information about OncoGenex is available at www.oncogenex.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">This press release contains forward-looking statements within the meaning of the &#147;safe harbor&#148;
provisions of the Private Securities Litigation Reform Act of 1995, including statements concerning
the potential survival benefit of OGX-011, anticipated clinical development activities, timing of
these activities, the ability of future trials to demonstrate clinical benefit and the potential
for regulatory approvals. All statements other than statements of historical fact are statements
that could be deemed forward-looking statements. These statements are based on management&#146;s current
expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that
could cause actual results to differ materially from those described in the forward-looking
statements.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->Page 4 of 5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The potential risks and uncertainties associated with forward-looking statements include, among
others, the possibility that any benefit in patient survival will not be maintained or will become
less substantial as patient survival follow up continues, risks that clinical trials will not be
successful or confirm earlier clinical trial results, including the risk that the survival benefit
will not be confirmed by a Phase 3 clinical trial, risks associated with obtaining funding from
third parties or completing a financing necessary to support the costs and expenses of a Phase 3
clinical trial, the timing and costs of clinical trials and regulatory approvals will be different
than management currently anticipates, risks relating to the development, safety and efficacy of
therapeutic drugs and potential applications for these products and the risk factors set forth in
the Company&#146;s filings with the Securities and Exchange Commission, including the Company&#146;s Annual
Report on Form 10-K for fiscal year 2008. The Company undertakes no obligation to update the
forward-looking statements contained herein or to reflect events or circumstances occurring after
the date hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>OncoGenex Contact:</B><BR>
Scott Cormack<BR>
President &#038; CEO<BR>
(604)&nbsp;736-3678<BR>
scormack@oncogenex.com

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Media and Investor Contact:</B><BR>
Jason Spark<BR>
Porter Novelli Life Sciences<BR>
(619)&nbsp;849-6005<BR>
jspark@pnlifesciences.com

</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->Page 5 of 5<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>c86406exv99w2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 99.2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;99.2</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><IMG src="c86406p8640601.gif" alt="(ONCOGENEX LOGO)">
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>OncoGenex Pharmaceuticals Announces OGX-427 Treatment Demonstrates<BR>
Safety, Evidence of Declines in Circulating Tumor Cells and Reductions in Tumor<BR>
Markers in a Phase 1 Cancer Trial</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">BOTHELL, WA, and VANCOUVER, May&nbsp;30, 2009 &#151; OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) today
announced preliminary results of a Phase 1 trial presented during an oral presentation at the
American Society of Clinical Oncology (ASCO)&nbsp;Annual Meeting. Preliminary results as of April&nbsp;2009
showed that OGX-427 was well tolerated as a monotherapy. In addition, OGX-427 demonstrated
declines in circulating tumor cells at all doses evaluated as well as evidence of reduction in
tumor markers. Reductions in circulating tumor cells and tumor markers both suggest single-agent
activity warranting further clinical investigation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The Phase 1 trial has evaluated 41 patients with a variety of cancers to date; enrollment is
ongoing. The first phase of the study evaluated increasing doses of OGX-427 as a single agent up to
1000 mg. A maximum tolerated dose was not identified up to and including the 1000-mg dose of
OGX-427 monotherapy. Subsequently, as defined by the protocol, an 800-mg dose of OGX-427 in
combination with docetaxel was evaluated, to be followed by a 1000-mg dose of OGX-427 plus
docetaxel. OGX-427 is administered as three loading doses within the first 9&nbsp;days and then
continued weekly, with three weeks defined as a treatment cycle, until disease progression or
toxicity. In those groups receiving OGX-427 in combination with docetaxel, 75mg/M<SUP style="font-size: 85%; vertical-align: text-top">2</SUP>
docetaxel was administered on Day 1 of every 3-week cycle starting after completion of the OGX-427
loading doses.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Safety Results</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Patients enrolled had a diagnosis of breast, ovarian, prostate or non-small cell lung cancer and
most had failed multiple prior chemotherapy treatments. A median of 2 cycles (range of 1-8 cycles)
was administered with the following safety results for OGX-427 as monotherapy:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Criteria for a maximum tolerated dose were not met at the highest dose evaluated as
monotherapy (1000 mg).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No evidence of altered cardiac activity was observed.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Majority of adverse events were mild and mainly occurred during the loading doses.
Adverse events consisted of chills, itching and fatigue in over a third of patients.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>There was a trend for increasing incidence of some mild adverse events with escalating
OGX-427 doses. For example, 33% of patients at the 200-mg dose compared to 67% of patients
at the 1000-mg dose had mild adverse events during the loading doses.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The half-life of OGX-427 in the blood remained constant, although there appeared to be
an increase in maximum blood levels and a corresponding decease in blood clearance of
OGX-427 as doses were escalated.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The combination of 800 mg OGX-427 with docetaxel was also well tolerated and escalation to 1000 mg
OGX-427 with docetaxel will be evaluated next.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Circulating Tumor Cell and Tumor Marker Results</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Circulating tumor cells (CTCs), an emerging metric to assess treatment effect, was evaluated at
baseline before treatment and during treatment. Both total and Hsp27-positive CTCs were evaluated.
Declines of 50% or greater in both total and Hsp27-positive CTCs were observed in over half of the
patients in each cohort and in each cancer category. Declines in Hsp27 CTCs to 5 or less cells
occurred in 27% of patients who had greater than 5 CTCs at baseline.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Reduction in tumor markers defined as declines of PSA levels in prostate cancer or CA-125 levels in
ovarian cancer were also observed. A reduction in PSA level was observed in 7 of 20 patients (35%)
with prostate cancer and a reduction in CA-125 levels was observed in 3 of 5 patients (60%) with
ovarian cancer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">&#147;CTCs are emerging as an exciting surrogate of anti-cancer activity. The frequent decreases in
total and Hsp-27 positive CTC counts, coupled with decreases in serum PSA and CA-125 levels in
patients with prostate and ovarian cancer, markers that strongly suggest single agent anti-cancer
activity for OGX-427,&#148; said Dr.&nbsp;Sebastien Hotte, Principal Investigator and a medical oncologist at
Juravinski Cancer Centre, Hamilton, Ontario.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">&#147;We are very satisfied with the safety profile of OGX-427 to date in this trial and the early,
strong indicators of anti-tumor and biological activity,&#148; said Scott Cormack, president and CEO of
OncoGenex Pharmaceuticals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>About OGX-427</B>
</DIV>


<DIV align="left" style="margin-top: 10pt; margin-right: 1%; font-size: 10pt">OGX-427 is designed to reduce production of Hsp27, a protein that is over-produced in response
to many cancer treatments including hormone ablation therapy, chemotherapy and radiation
therapy. Hsp27 production has been shown to inhibit cell death in tumor cells through a variety
of mechanisms. OGX-427 is being evaluated in a Phase 1 clinical trial for the treatment of solid
tumors including prostate, non-small cell lung, breast, ovarian, and bladder cancers. Like
OGX-011, this product candidate has potential as a treatment in a broad number of cancers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>About OncoGenex</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">OncoGenex is a biopharmaceutical company committed to the development and commercialization of new
therapies that address unmet needs in the treatment of cancer. OncoGenex has a deep oncology
pipeline, with each product candidate having a distinct mechanism of action and representing a
unique opportunity for cancer drug development. OGX-011, the lead candidate currently completing
five Phase 2 clinical studies in prostate, lung and breast cancers, is designed to inhibit the
production of a specific protein associated with treatment resistance; OGX-427 is in Phase 1
clinical development; SN2310 has completed the Phase 1 clinical trial; and CSP-9222 and OGX-225 are
currently in pre-clinical development.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.20in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">OGX-011, OGX-427 and OGX-225 utilize second-generation antisense technology, licensed from Isis
Pharmaceuticals (NASDAQ: ISIS), to effectively target and inhibit production of specific proteins
in tumor cells. OncoGenex and Isis partnered in the successful discovery of OGX-011, OGX-427 and
OGX-225 and with respect to OGX-011, in its initial development. In 2008, OncoGenex and Isis
amended their OGX-011 agreement to provide OncoGenex with sole rights to OGX-011 and sole
responsibility for development and related costs and partnering decisions, subject to financial
obligations to Isis. OncoGenex is also solely responsible for development and related costs and
partnering decisions regarding OGX-427 and OGX-225. Key intellectual property related to OGX-011,
OGX-427 and OGX-225 were discovered by the University of British Columbia and the Vancouver
Prostate Centre, and were exclusively licensed to OncoGenex.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">More information about OncoGenex is available at <U>www.oncogenex.com</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">This press release contains forward-looking statements within the meaning of the &#147;safe harbor&#148;
provisions of the Private Securities Litigation Reform Act of 1995, including statements concerning
the potential survival benefit of OGX-011, anticipated clinical development activities, timing of
these activities, the ability of future trials to demonstrate clinical benefit and the potential
for regulatory approvals. All statements other than statements of historical fact are statements
that could be deemed forward-looking statements. These statements are based on management&#146;s current
expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that
could cause actual results to differ materially from those described in the forward-looking
statements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">The potential risks and uncertainties associated with forward-looking statements include, among
others, the possibility that any benefit in patient survival will not be maintained or will become
less substantial as patient survival follow up continues, risks that clinical trials will not be
successful or confirm earlier clinical trial results, including the risk that the survival benefit
will not be confirmed by a Phase 3 clinical trial, risks associated with obtaining funding from
third parties or completing a financing necessary to support the costs and expenses of a Phase 3
clinical trial, the timing and costs of clinical trials and regulatory approvals will be different
than management currently anticipates, risks relating to the development, safety and efficacy of
therapeutic drugs and potential applications for these products and the risk factors set forth in
the Company&#146;s filings with the Securities and Exchange Commission, including the Company&#146;s Annual
Report on Form 10-K for fiscal year 2008. The Company undertakes no obligation to update the
forward-looking statements contained herein or to reflect events or circumstances occurring after
the date hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>OncoGenex Contact:</B><BR>
Scott Cormack<BR>
President &#038; CEO<BR>
(604)&nbsp;736-3678<BR>
scormack@oncogenex.com

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Media and Investor Contact:</B><BR>
Jason Spark<BR>
Porter Novelli Life Sciences<BR>
(619)&nbsp;849-6005<BR>
jspark@pnlifesciences.com

</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




</BODY>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
