<SEC-DOCUMENT>0001279569-15-002112.txt : 20151105
<SEC-HEADER>0001279569-15-002112.hdr.sgml : 20151105
<ACCEPTANCE-DATETIME>20151105110049
ACCESSION NUMBER:		0001279569-15-002112
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151105
FILED AS OF DATE:		20151105
DATE AS OF CHANGE:		20151105

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:		151199351

	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>
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<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 -->

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<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 5, 2015</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>

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

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<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>

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<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>

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<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>

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

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

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    <TD STYLE="width: 8%; border-bottom: Black 1pt solid"><P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>EXHIBIT</B></FONT></P>
        <P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NUMBER</B></FONT></P></TD>
    <TD STYLE="width: 2%; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></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, Times, Serif"><B>DESCRIPTION</B></FONT></TD></TR>
<TR>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center; line-height: 115%; font-family: Calibri,sans-serif; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 115%; font-family: Calibri,sans-serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">News
Release Dated November 5, 2015 - Oncolytics Biotech&reg; Inc. Announces 2015 Third Quarter Results</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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

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    <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>
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<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>

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<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 5, 2015</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>


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

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex991.htm
<DESCRIPTION>NEWS RELEASE DATED NOVEMBER 5, 2015
<TEXT>
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<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-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

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

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: bold 24pt Arial,sans-serif; margin-right: 0; margin-left: 0"></P>

<P STYLE="font: bold 24pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Oncolytics
Biotech&reg; Inc. Announces 2015 Third Quarter Results</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">CALGARY,
Nov. 5, 2015 /CNW/ - Oncolytics Biotech<SUP>&reg;</SUP> Inc. (TSX:ONC, OTCQX:ONCY) (&quot;Oncolytics&quot; or the &quot;Company&quot;)
today announced its financial results and operational highlights for the third quarter ended September 30, 2015.</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&quot;During
the quarter, we announced exciting initial clinical data from our multiple myeloma study showing statistically significant increases
in the production of caspase-3 and upregulation of PD-L1 along with an early objective response rate of 100%,&quot; said Dr. Brad
Thompson, President and CEO of Oncolytics. &quot;We also announced one and two-year survival data versus historical controls from
our pancreatic (REO 017) cancer trial. This data is very often suggestive of broader immune system involvement which led us to
file a US Phase 1b study in pancreatic adenocarcinoma; the first to examine REOLYSIN<SUP>&reg;</SUP> in combination with the checkpoint
inhibitor KEYTRUDA<SUP>&reg;</SUP>.&quot;</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><U>Selected
Highlights</U></B></FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Since
July 1, 2015, selected highlights announced by the Company include:</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Clinical
Program</B></FONT></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">A poster presentation at the 15<SUP>th</SUP> International
Myeloma Workshop titled &quot;Combination Carfilzomib and the Viral Oncolytic Agent REOLYSIN<SUP>&reg;</SUP> in Patients with
Relapsed Multiple Myeloma: A Pilot Study Investigating Viral Proliferation,&quot; highlighting data including 100% of patients
(8 of 8) experiencing an objective response as measured by changes in blood monoclonal protein and significant increases in the
production of caspase-3 (p=0.005) and upregulation of PD-L1 (p=0.005);</FONT></LI>

<LI STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">An oral presentation at the International Association
for the Study of Lung Cancer (IASLC) 16<SUP>th</SUP> World Conference on Lung Cancer titled &quot;Oncolytic Reovirus in Combination
with Paclitaxel/Carboplatin in NSCLC Patients with Ras Activated Malignancies, Long Term Results,&quot; covering updated results,
including one- and two-year survival data, from the Company's REO 016 Phase 2 study in Non-Small Cell Lung Cancer (NSCLC);</FONT></LI>

<LI STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Presentation of final data from a single arm clinical
study examining the use of REOLYSIN<SUP>&reg;</SUP> in combination with gemcitabine in patients with advanced pancreatic cancer
(REO 017), which showed an increase in median overall survival, as well as an approximate two-fold increase in one-year survival
rates, and a five-fold increase in two-year survival rates when compared to gemcitabine therapy alone as seen in historical data;</FONT></LI>

<LI STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Completion of enrollment in two randomized Phase
2 studies sponsored and conducted by the NCIC Clinical Trials Group; IND 211 is a study of REOLYSIN<SUP>&reg;</SUP> in combination
with chemotherapy in patients with previously treated advanced or metastatic non-small cell lung cancer and IND 209 is a study
of REOLYSIN<SUP>&reg;</SUP> in combination with chemotherapy in patients with recurrent or metastatic castration resistant prostate
cancer;</FONT></LI>

<LI STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Subsequent to quarter end, confirmation that, following
submission to the U.S. Food and Drug Administration (&quot;FDA&quot;) for review, the Investigational New Drug Application containing
the protocol titled &quot;A Phase Ib study of pembrolizumab (KEYTRUDA<SUP>&reg;</SUP>) in combination with REOLYSIN<SUP>&reg;
</SUP>(pelareorep) and chemotherapy in patients with advanced pancreatic adenocarcinoma&quot;, the Company's first trial examining
REOLYSIN in combination with a checkpoint inhibitor, was active; and</FONT></LI>

</UL>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Financial</B></FONT></P>

<UL STYLE="list-style-type: disc">

<LI STYLE="margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">At September 30, 2015 the Company reported $30.0
million in cash, cash equivalents and short-term investments. At November 5, 2015, the Company had approximately $28.7 million
in cash, cash equivalents and short-term investments, which is expected to provide sufficient funds to support several small early-stage
immunotherapy combination studies as well as both a run-in and a registration study in muscle invasive bladder cancer.</FONT></LI>

</UL>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>ONCOLYTICS
    BIOTECH INC.</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B><I>(unaudited)</I></B></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>September
    30,</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>December
    31,</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2015</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2014</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>Assets</I></B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Current
    assets</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash
    and cash equivalents</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>27,962,462</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14,152,825</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Short-term
    investments</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2,060,977</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,031,685</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Accounts
    receivable</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>53,040</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">191,751</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Prepaid
    expenses</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>480,611</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">291,553</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total
    current assets</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>30,557,090</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16,667,814</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Non-current
    assets</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Property
    and equipment</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>443,468</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">525,376</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total
    non-current assets</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>443,468</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">525,376</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>Total
    assets</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>31,000,558</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">17,193,190</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>Liabilities
    And Shareholders' Equity</I></B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Current
    Liabilities</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Accounts
    payable and accrued liabilities</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>3,276,279</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3,373,997</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total
    current liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>3,276,279</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3,373,997</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Shareholders'
    equity</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Share
    capital</FONT></TD>
    <TD ROWSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ROWSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;Authorized:
    unlimited</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;Issued:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">September
    30, 2015 &ndash; 117,981,672</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">December
    31, 2014 - 93,512,494</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>261,229,719</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">237,657,056</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Contributed
    surplus</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>26,029,865</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">25,848,429</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Accumulated
    other comprehensive income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>657,103</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">280,043</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Accumulated
    deficit</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(260,192,408)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(249,966,335)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>Total
    shareholders' equity</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>27,724,279</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13,819,193</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, 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-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>31,000,558</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">17,193,190</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>ONCOLYTICS
    BIOTECH INC.</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B><I>(unaudited)</I></B></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Three</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Month</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Period</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Ending</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>September</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>30, 2015</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Three</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Month</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Period</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Ending</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>September</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>30, 2014</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Nine
    Month</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Period</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Ending</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>September</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>30, 2015</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Nine
    Month</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Period</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Ending</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>September</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>30, 2014</B></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Expenses</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Research
    and development</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>1,704,784</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3,571,939</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>6,601,877</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">11,305,328</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Operating</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>1,176,023</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,105,274</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>3,780,812</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3,706,343</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>Operating
    loss</I></B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(2,880,807)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(4,677,213)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(10,382,689)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(15,011,671)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Interest</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>52,756</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">39,937</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>153,313</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">178,177</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>Loss
    before income taxes</I></B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(2,828,051)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(4,637,276)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(10,229,376)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(14,833,494)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Income
    tax expense</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>4,074</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">668</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>3,303</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(6,728)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>Net
    loss</I></B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(2,823,977)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(4,636,608)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(10,226,073)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(14,840,222)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>Other
    comprehensive income items that may be</I></B></FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ROWSPAN="2" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>reclassified
    to net loss</I></B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Translation
    adjustment</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>192,586</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">100,461</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>377,060</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">108,442</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, 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-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(2,631,391)</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(4,536,147)</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(9,849,013)</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(14,731,780)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, 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-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(0.02)</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.05)</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(0.09)</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.17)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font: 8pt Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>Weighted
    average number of shares (basic and</I></B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>117,963,979</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">88,592,863</FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>110,757,811</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 8.05pt; padding-left: 6pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">86,786,937</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 2.25pt double; font: 8pt Arial,sans-serif; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>&nbsp;diluted)</I></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 8pt">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>ONCOLYTICS
    BIOTECH INC.</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B><I>(unaudited)</I></B></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Share
    Capital</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Contributed</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Surplus</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Warrants</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Accumulated</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Other</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Comprehensive</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Income</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>(Loss)</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Accumulated</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Deficit</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">As
    at December 31, 2013</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">228,612,564</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">24,491,212</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">376,892</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">79,698</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(231,347,000)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">22,213,366</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net
    loss and other comprehensive income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">108,442</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(14,840,222)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(14,731,780)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Issued,
    pursuant to Share Purchase Agreement</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,427,899</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,427,899</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Expired
    warrants</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">376,892</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(376,892)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Share
    based compensation</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">870,423</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">870,423</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 2.25pt double; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>As
    at September 30, 2014</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">235,040,463</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">25,738,527</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">188,140</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(246,187,222)</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14,779,908</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Share
    Capital</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Contributed</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Surplus</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Warrants</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Accumulated</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Other</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Comprehensive</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Income</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Accumulated</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Deficit</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">As
    at December 31, 2014</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">237,657,056</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">25,848,429</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">280,043</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(249,966,335</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13,819,193</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net
    loss and other comprehensive income</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">377,060</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(10,226,073)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(9,849,013)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Issued,
    pursuant to Share Purchase Agreement</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,305,396</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,305,396</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Issued,
    pursuant to &quot;At the Market&quot;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Agreement</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">19,267,267</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">19,267,267</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Share
    based compensation</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">181,436</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">181,436</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 2.25pt double; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>As
    at September 30, 2015</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>261,229,719</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>26,029,865</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>657,103</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(260,192,408)</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>27,724,279</B></FONT></TD></TR>
<TR>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 24%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 13%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 12%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 8pt">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>ONCOLYTICS
    BIOTECH INC.</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><I>(<B>unaudited)</B></I></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Three</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Month</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Period</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Ending</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>September</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>30, 2015</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Three</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Month</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Period</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Ending</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>September</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>30, 2014</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Nine</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Month</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Period</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Ending</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>September</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>30, 2015</B></FONT></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Nine</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><BR>
    <FONT STYLE="font-size: 8pt"><B>Month</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Period</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>Ending</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>September</B></FONT><BR>
    <FONT STYLE="font-size: 8pt"><B>30, 2014</B></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>$</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Operating
    Activities</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net
    loss for the period</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(2,823,977)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(4,636,608)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(10,226,073)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(14,840,222)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Amortization
    - property and equipment</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>44,761</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">39,904</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>134,743</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">118,073</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Share
    based compensation</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>10,791</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">199,821</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>181,436</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">870,423</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Unrealized
    foreign exchange loss (gain)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(182,131)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">243,290</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(485,653)</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">193,301</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net
    change in non-cash working capital</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>92,792</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(261,622)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(327,690)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2,701,103)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Cash
    used in operating activities</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(2,857,764)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(4,415,215)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(10,723,237)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(16,359,528)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Investing
    Activities</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Acquisition
    of property and equipment</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(17,695)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(113,782)</FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(47,292)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(131,001)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Purchase
    of short-term investments</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(29,292)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(30,041)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Cash
    used in investing activities</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(17,695)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(113,782)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(76,584)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(161,042)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Financing
    Activities</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Proceeds
    from Share Purchase Agreement</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&mdash;</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,736,749</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>4,305,396</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,427,899</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Proceeds
    from &quot;At the Market&quot; equity distribution&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">agreement</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>213,742</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>19,267,267</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&mdash;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Cash
    provided by financing activities</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>213,742</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,736,749</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>23,572,663</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,427,899</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Increase
    in cash</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>(2,661,717)</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1,792,248)</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>12,772,842</B></FONT></TD>
    <TD STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(10,092,671)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash
    and cash equivalents, beginning of period</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>30,018,217</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16,880,730</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>14,152,825</B></FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">25,220,328</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Impact
    of foreign exchange on cash and cash</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;equivalents</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>605,962</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(75,514)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>1,036,795</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(114,689)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="border-bottom: black 2.25pt double; padding-right: 6pt; padding-left: 6pt; font-family: Arial,sans-serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B><I>Cash
    and cash equivalents, end of period</I></B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>27,962,462</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15,012,968</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>27,962,462</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; padding-right: 8.05pt; padding-left: 6pt; font-family: Arial,sans-serif; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15,012,968</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">To
view the Company's Fiscal 2015 Third Quarter Consolidated Financial Statements, related Notes to the Consolidated Financial Statements,
and Management's Discussion and Analysis, please see the Company's annual filings, which will be available on <U>www.sedar.com</U>&nbsp;and
on www.oncolyticsbiotech.com/for-investors/financials.</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>About
Oncolytics Biotech Inc.</B><BR>
Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics.
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.</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><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 2015 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></FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">SOURCE
Oncolytics Biotech Inc.</FONT></P>

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<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">%CIK:
0001129928</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>For further
information:</B> NATIONAL Equicom, Nick Hurst, 800 6th Ave. SW, Suite 1600, Calgary, Alberta T2P 3G3, Tel: 403.218.2835, Fax:
403.218.2830, nhurst@national.ca; NATIONAL Equicom, Michael Moore, San Diego, CA, Tel: 858.886.7813, mmoore@national.ca; 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</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">CO:
Oncolytics Biotech Inc.</FONT></P>

<P STYLE="font: 12pt Times New Roman,serif; margin-right: 0; margin-left: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">CNW
06:30e 05-NOV-15</FONT></P>



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