<SEC-DOCUMENT>0001279569-14-001797.txt : 20141106
<SEC-HEADER>0001279569-14-001797.hdr.sgml : 20141106
<ACCEPTANCE-DATETIME>20141106122135
ACCESSION NUMBER:		0001279569-14-001797
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20141106
FILED AS OF DATE:		20141106
DATE AS OF CHANGE:		20141106

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ONCOLYTICS BIOTECH INC
		CENTRAL INDEX KEY:			0001129928
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31062
		FILM NUMBER:		141199664

	BUSINESS ADDRESS:	
		STREET 1:		1167 KENSINGTON CRES NW SUITE 210
		STREET 2:		CALGARY ALBERTA CANADA T2N 1X7
		CITY:			ALBERTA CANADA
		STATE:			A0
		ZIP:			00000
		BUSINESS PHONE:		4036707380

	MAIL ADDRESS:	
		STREET 1:		210 - 1167 KENSINGTON CRES NW
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2N 1X7
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>oncolyticsform6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 14pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt/normal Times New Roman,serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 18pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>Form 6-K</B></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>Report of Foreign Private Issuer</B></P>

<P STYLE="font: 12pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16</B></P>

<P STYLE="font: 12pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center">For the month of November</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center">Commission File Number 000-31062</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 24pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>Oncolytics Biotech Inc.</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 70%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 24pt/normal Times New Roman,serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><I>(Translation of registrant&rsquo;s name into
English)</I></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>Suite&nbsp;210, 1167 Kensington Crescent NW</B></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>Calgary, Alberta, Canada T2N 1X7</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 70%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><B><I>(Address
of principal executive offices)</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">Indicate by check mark whether the registrant files or will file
annual reports under cover Form&nbsp;20-F or Form&nbsp;40-F.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 60%; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 1%; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 49%; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font: 10pt Times New Roman,serif">Form&nbsp;20-F&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font: 10pt Times New Roman,serif">Form&nbsp;40-F&nbsp;&nbsp;&nbsp;&#9744;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1):&nbsp;&nbsp;&nbsp;&#9744;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"><B>Note: </B>Regulation&nbsp;S-T Rule&nbsp;101(b)(1) only permits
the submission in paper of a Form&nbsp;6-K if submitted solely to provide an attached annual report to security holders.</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7):&nbsp;&nbsp;&nbsp;&#9744;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"><B>Note: </B>Regulation&nbsp;S-T Rule&nbsp;101(b)(7) only permits
the submission in paper of a Form&nbsp;6-K if submitted to furnish a report or other document that the registrant foreign private
issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant&rsquo;s &ldquo;home country&rdquo;), or under the rules of the home country exchange on which the registrant&rsquo;s
securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed
to the registrant&rsquo;s security holders, and, if discussing a material event, has already been the subject of a Form&nbsp;6-K
submission or other Commission filing on EDGAR.</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">Indicate by check mark whether by furnishing the information contained
in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b) under
the Securities Exchange Act of 1934.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 60%; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 1%; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 49%; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font: 10pt Times New Roman,serif">Yes&nbsp;&nbsp;&nbsp;&#9744;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%; font-family: Calibri,sans-serif"></TD>
    <TD STYLE="vertical-align: top; text-align: center; line-height: 115%; font-family: Wingdings"><FONT STYLE="font: 10pt Times New Roman,serif">No
<FONT STYLE="font-family: Wingdings">&thorn;</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">If &ldquo;Yes&rdquo; is marked, indicate below the file number assigned
to the registrant in connection with Rule&nbsp;12g3-2(b):&nbsp;&nbsp;&nbsp;82&nbsp;-&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 12pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center; text-indent: 0.5in"></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>EXHIBIT</B></P>
        <P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>NUMBER</B></P></TD>
    <TD STYLE="width: 2%; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 90%; line-height: 115%; font-family: Calibri,sans-serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman,serif"><B>DESCRIPTION</B></FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font: 10pt Times New Roman,serif">99.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">News
Release Dated November 6, 2014 - Oncolytics Biotech&reg; Inc. Announces Third Quarter 2014 Results</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 11pt">
<TR>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"><B>Oncolytics Biotech Inc.</B></P>
        <P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">(Registrant)</P></TD></TR>
<TR>
    <TD STYLE="width: 50%; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 5%; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="width: 45%; line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font: 10pt Times New Roman,serif">&nbsp;Date:&nbsp;&nbsp;
    November 6, 2014</FONT></TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font: 10pt Times New Roman,serif">By:</FONT></TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman,serif">/s/&nbsp;&nbsp;Kirk Look</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font: 10pt Times New Roman,serif">Kirk Look</FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif">&nbsp;</TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font: 10pt Times New Roman,serif">Chief Financial Officer</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex991.htm
<DESCRIPTION>NEWS RELEASE DATED NOVEMBER 6, 2014
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 12pt Arial,sans-serif; margin: 0"><B>Oncolytics Biotech&reg; Inc. Announces Third Quarter 2014 Results</B></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0">CALGARY, Nov. 6, 2014 /CNW/ -&nbsp;Oncolytics Biotech<SUP>&reg;</SUP>
Inc. (TSX:ONC, NASDAQ:ONCY) (&quot;Oncolytics&quot; or the &quot;Company&quot;) today announced its financial results and operational
highlights for the third quarter ended September 30, 2014.</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-align: justify">&quot;During the quarter we reported on interim data
that suggests that patients with a selected biomarker, in this case mutant KRAS, may derive benefit from REOLYSIN<SUP>&reg;</SUP>
in a randomized clinical study,&quot; said Dr. Brad Thompson, President and CEO of Oncolytics. &quot;Biomarkers are playing an
increasingly important role in predicting, following and treating cancer. We are examining their role in our other ongoing randomized
clinical studies. Subsequent to quarter end, we established two financing facilities that will allow us to incrementally access
capital in the quarters ahead.&quot;</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-align: justify"><B><U>Selected Highlights</U></B></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-align: justify">Since July 1, 2014, selected highlights announced
by the Company include:</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-align: justify"><B>Clinical Program</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial,sans-serif">Reported interim overall and KRAS-mutated patient data from an NCI-sponsored randomized
Phase II study of REOLYSIN<SUP>&reg;</SUP> in combination with carboplatin and paclitaxel in patients with recurrent or metastatic
pancreatic cancer (NCI-8601).&nbsp; There was no difference of note in the overall patient population.&nbsp; In the patient population
that had mutations in the KRAS gene (n = 23 in the control arm, n = 21 in the test arm), the median progression free survival in
the test arm was 5.72 months (95% CI on the Kaplan-Meier curve = 3.187 to 6.767) versus 4.11 months in the control arm (95% CI&nbsp;
on the Kaplan-Meier curve = 1.938 to 6.176). This translates into a 1.61 month (39%) improvement in median progression free survival
in the test arm versus the control arm; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial,sans-serif">Reported that patient enrollment had been completed in an ongoing, NCI-sponsored
randomized Phase II study of REOLYSIN<SUP>&reg;</SUP> in combination with paclitaxel in patients with persistent or recurrent ovarian,
fallopian tube or primary peritoneal cancer (GOG-186H). The Company awaits early data from this study;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-align: justify"><B>Financial</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial,sans-serif">At September 30, 2014 the Company reported $17.0 million in cash, cash equivalents
and short-term investments; and </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman,serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial,sans-serif">Subsequent to quarter end, amendments to the previously announced share purchase
agreement with Lincoln Park Capital Fund, LLC and entry into a $20 million &quot;at-the-market&quot; equity distribution agreement
with Canaccord Genuity Inc.</FONT></TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial,sans-serif"><B>ONCOLYTICS BIOTECH INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial,sans-serif"><B>INTERM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>September 30,</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>2014&nbsp; </B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>December 31,</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>2013</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Assets</I></B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Current assets</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Cash and cash equivalents</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>15,012,968</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">25,220,328</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Short-term investments</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>2,031,685</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">2,001,644</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Accounts receivable</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>84,865</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">105,853</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">Prepaid expenses</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>405,475</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">361,743</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Total current assets</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>17,534,993</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">27,689,568</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Non-current assets</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">Property and equipment</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>543,525</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">532,459</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Total non-current assets</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>543,525</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">532,459</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Total assets</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>18,078,518</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">28,222,027</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Liabilities And Shareholders' Equity</I></B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Current Liabilities</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">Accounts payable and accrued liabilities</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>3,298,610</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">6,008,661</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Total current liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>3,298,610</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">6,008,661</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Shareholders' equity</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Share capital</FONT><BR>
<FONT STYLE="font: 8pt Arial,sans-serif">&nbsp;&nbsp;Authorized: unlimited </FONT><BR>
<FONT STYLE="font: 8pt Arial,sans-serif">&nbsp;&nbsp;Issued:</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">&nbsp;&nbsp; September 30, 2014 &ndash; 89,566,597</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">&nbsp;&nbsp; December 31, 2013 &ndash; 84,803,818</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>235,040,463</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">228,612,564</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Warrants</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">376,892</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Contributed surplus</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>25,738,527</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">24,491,212</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Accumulated other comprehensive income</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>188,140</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">79,698</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">Accumulated deficit</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(246,187,222)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(231,347,000)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Total shareholders' equity</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>14,779,908</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">22,213,366</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Total liabilities and equity</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>18,078,518</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">28,222,027</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-indent: 0.5in"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial,sans-serif"><B>ONCOLYTICS BIOTECH INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial,sans-serif"><B>INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Three Month</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Period</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Ending</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;September</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;30, 2014</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Three Month</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Period</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Ending</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;September</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;30, 2013</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Nine Month</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Period</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Ending</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;September</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;30, 2014</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Nine Month</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Period&nbsp;</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Ending</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;September </B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>30, 2013</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center">$</P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Expenses</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 9.75pt 1.5pt 9.75pt 9.95pt; font: 8pt Helvetica,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Research and development</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>3,571,939</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">5,001,972</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>11,305,328</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">13,923,323</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Helvetica,sans-serif; padding: 9.75pt 1.5pt 9.75pt 9.95pt"><FONT STYLE="font: 8pt Arial,sans-serif">Operating</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>1,105,274</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">1,222,157</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>3,706,343</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">4,107,650</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Operating loss</I></B></FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(4,677,213)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(6,224,129)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(15,011,671)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(18,030,973)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Helvetica,sans-serif; padding: 9.75pt 1.5pt 9.75pt 9.95pt"><FONT STYLE="font: 8pt Arial,sans-serif">Interest</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>39,937</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">110,479</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>178,177</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">290,806</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Loss before income taxes</I></B></FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(4,637,276)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(6,113,650)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(14,833,494)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(17,740,167)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Helvetica,sans-serif; padding: 9.75pt 1.5pt 9.75pt 9.95pt"><FONT STYLE="font: 8pt Arial,sans-serif">Income tax expense</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>668</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(6,728)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Net loss</I></B></FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(4,636,608)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(6,113,650)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(14,840,222)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(17,740,167)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0"><B><I>Other comprehensive income items that may be</I></B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-indent: 0.5in"><B><I>&nbsp; reclassified to net loss</I></B></P></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Helvetica,sans-serif; padding: 9.75pt 1.5pt 9.75pt 9.95pt"><FONT STYLE="font: 8pt Arial,sans-serif">Translation adjustment</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>100,461</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(33,513)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>108,442</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">74,126</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Net comprehensive loss</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(4,536,147)</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(6,147,163)</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(14,731,780)</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(17,666,041)</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Basic and diluted loss per common share</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(0.05)</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(0.07)</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(0.17)</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(0.21)</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Weighted average number of shares (basic and</I></B></FONT><BR>
<FONT STYLE="font: 8pt Arial,sans-serif"><B><I>&nbsp;diluted)</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>88,592,863</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">84,758,818</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>86,786,937</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">83,112,919</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial,sans-serif"><B>ONCOLYTICS BIOTECH INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial,sans-serif"><B>INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="13" STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Share Capital</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Contributed</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Surplus</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Warrants</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Accumulated</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Other</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Comprehensive</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Income</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>(Loss)</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Accumulated</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Deficit</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Total</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">As at December 31, 2012</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">198,155,091</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">24,126,265</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">376,892</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(57,115)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(207,814,353)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">14,786,780</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Net loss and other comprehensive income</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">74,126</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(17,740,167)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(17,666,041)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Issued, pursuant to a bought deal financing</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">30,218,797</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">30,218,797</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Exercise of stock options</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">139,676</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(34,687)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">104,989</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">Share based compensation</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">191,356</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">191,356</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">As at September 30, 2013</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">228,513,564</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">24,282,934</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">376,892</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">17,011</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(225,554,520)</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">27,635,881</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: center"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Share Capital</B></FONT><BR>
<FONT STYLE="font: 8pt Arial,sans-serif"><B>$</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Contributed </B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Surplus</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Warrants</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Accumulated</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Other</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Comprehensive</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Income</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Accumulated</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Deficit</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Total</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">As at December 31, 2013</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">228,612,564</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">24,491,212</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">376,892</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">79,698</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(231,347,000)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">22,213,366</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Net loss and other comprehensive income</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">108,442</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(14,840,222)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(14,731,780)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Issued, pursuant to Share Purchase Agreement</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">6,427,899</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">6,427,899</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Expired warrants</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">376,892</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(376,892)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">Share based compensation</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">870,423</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">870,423</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B>As at September 30, 2014</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>235,040,463</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>25,738,527</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>188,140</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(246,187,222)</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>14,779,908</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-indent: 0.5in"><B><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</I></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial,sans-serif"><B>ONCOLYTICS BIOTECH INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial,sans-serif"><B>INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Three Month</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Period</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Ending</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;September</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;30, 2014</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Three Month</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Period</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Ending</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;September</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Arial,sans-serif; color: black"><B>&nbsp;30,
        2013</B></FONT><B><BR>
        <FONT STYLE="font-family: Arial,sans-serif; color: black">$</FONT></B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Nine Month</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Period</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Ending</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;September</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Arial,sans-serif; color: black"><B>&nbsp;30,
        2014</B></FONT><B><BR>
        <FONT STYLE="font-family: Arial,sans-serif; color: black">$</FONT></B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding: 1.5pt">
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Nine Month</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>Period</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;Ending</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;September</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;30, 2013</B></P>
        <P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: center"><B>$</B></P></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Operating Activities</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Net loss for the period</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(4,636,608)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(6,113,650)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(14,840,222)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(17,740,167)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">&nbsp; Amortization - property and equipment</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>39,904</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">41,205</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>118,073</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">91,351</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">&nbsp; Share based compensation</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>199,821</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(59,497)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>870,423</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">191,356</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">&nbsp; Unrealized foreign exchange loss (gain)</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>243,290</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">34,179</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>193,301</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(63,670)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">Net change in non-cash working capital</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(261,622)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(412,109)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(2,701,103)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(2,508,562)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Cash used in operating activities</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(4,415,215)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(6,509,872)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(16,359,528)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(20,029,692)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Investing Activities</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Acquisition of property and equipment</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(113,782)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(103,512)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(131,001)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(250,814)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">Purchase of short-term investments</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(30,041)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(32,416)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Cash used in investing activities</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(113,782)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(103,512)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(161,042)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(283,230)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Financing Activities</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Proceeds from exercise of stock options and warrants</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">104,989</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Proceeds from Share Purchase Agreement</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>2,736,749</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>6,427,899</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">Proceeds from public offering</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">30,218,797</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Cash provided by financing activities</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>2,736,749</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>6,427,899</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">30,323,786</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif"><B>Increase in cash</B></FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(1,792,248)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(6,613,384)</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(10,092,671)</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">10,010,864</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial,sans-serif">Cash and cash equivalents, beginning of period</FONT></TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>16,880,730</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">36,153,277</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>25,220,328</B></FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding: 1.5pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">19,323,541</FONT></TD>
    <TD STYLE="padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif">Impact of foreign exchange on cash and cash equivalents</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(75,514)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">(67,692)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>(114,689)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">137,796</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt"><FONT STYLE="font: 8pt Arial,sans-serif"><B><I>Cash and cash equivalents, end of period</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>15,012,968</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">29,472,201</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif"><B>15,012,968</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding: 1.5pt; text-align: right"><FONT STYLE="font: 8pt Arial,sans-serif">29,472,201</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding: 1.5pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-align: justify">To view the Company's 2014 Third Quarter Interim
Consolidated Financial Statements, related Notes to the Interim Consolidated Financial Statements, and Management's Discussion
and Analysis, please see the Company's quarterly filings which will be available on www.sedar.com and on www.oncolyticsbiotech.com/for-investors/financials.</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-align: justify"><B>About Oncolytics Biotech Inc.</B></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-align: justify">Oncolytics is a Calgary-based biotechnology company
focused on the development of oncolytic viruses as potential cancer therapeutics.&nbsp; Oncolytics' clinical program includes a
variety of later-stage, randomized human trials in various indications using REOLYSIN<SUP>&reg;</SUP>, its proprietary formulation
of the human reovirus. For further information about Oncolytics, please visit: www.oncolyticsbiotech.com.</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0; text-align: justify"><I>This press release contains forward-looking statements,
within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including the
Company's belief as to the potential of REOLYSIN<SUP>&reg;</SUP> as a cancer therapeutic; the Company's expectations as to the
success of its research and development programs in 2014 and beyond, the Company's planned operations, the value of the additional
patents and intellectual property; the Company's expectations related to the applications of the patented technology; the Company's
expectations as to adequacy of its existing capital resources; the design, timing, success of planned clinical trial programs;
and other statements related to anticipated developments in the Company's business and technologies involve known and unknown risks
and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements.
Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development
projects, the efficacy of REOLYSIN<SUP>&reg;</SUP> as a cancer treatment, the success and timely completion of clinical studies
and trials, the Company's ability to successfully commercialize REOLYSIN<SUP>&reg;</SUP>, uncertainties related to the research
and development of pharmaceuticals, uncertainties related to the regulatory process and general changes to the economic environment.
Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional
information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue
reliance on forward-looking statements. The Company does not undertake to update these forward-looking statements, except as required
by applicable laws.</I></P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0">SOURCE Oncolytics Biotech Inc.</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0">%CIK: 0001129928</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 0"><B>For further information:</B> TMX Equicom, Nick Hurst, 300 5th Ave. SW, 10th
Floor, Calgary, Alberta T2P 3C4, Tel: 403.218.2835, Fax: 403.218.2830, nhurst@tmxequicom.com; TMX Equicom, Michael Moore, San Diego,
CA, Tel: 858.886.7813, mmoore@tmxequicom.com; Dian Griesel, Inc.. Susan Forman, 335 West 38th Street, 3rd Floor, New York, NY 10018,
Tel: 212.825.3210, Fax: 212.825.3229, sforman@dgicomm.com</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0">CO: Oncolytics Biotech Inc.</P>

<P STYLE="font: 10pt Arial,sans-serif; margin: 9.75pt 0">CNW 06:30e 06-NOV-14</P>



<P STYLE="margin: 0; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
