Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ^*

Cormack Scott Daniel

2. Issuer Name and Ticker or Trading Symbol
ONCOGENEX PHARMACEUTICALS, INC. [OGXI]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President & CEO

(Last)

(First)

(Middle)

400-1001 WEST BROADWAY

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2008

(Street)

VANCOUVER, A1 V6H 4B1

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/21/2008		A		1,306	A	⁽¹⁾	1,306	D
Common Stock	08/21/2008		A		1,015	A	⁽²⁾	1,015	I	By spouse

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (right to buy)

$ 3.8915

08/21/2008

24,809

08/21/2008

01/01/2009

Common Stock

24,809

⁽³⁾

24,809

Stock Option (right to buy)

$ 3.8915

08/21/2008

870

08/21/2008

08/01/2009

Common Stock

870

⁽⁴⁾

870

By spouse

Stock Option (right to buy)

$ 3.8915

08/21/2008

7,073

08/21/2008

02/01/2010

Common Stock

7,073

⁽⁵⁾

7,073

By spouse

Stock Option (right to buy)

$ 3.8915

08/21/2008

20,457

08/21/2008

12/16/2010

Common Stock

20,457

⁽⁶⁾

20,457

Stock Option (right to buy)

$ 3.8915

08/21/2008

6,528

08/21/2008

12/16/2010

Common Stock

6,528

⁽⁷⁾

6,528

By spouse

Stock Option (right to buy)

$ 3.8915

08/21/2008

21,545

08/21/2008

01/14/2011

Common Stock

21,545

⁽⁸⁾

21,545

Stock Option (right to buy)

$ 3.8915

08/21/2008

6,855

08/21/2008

01/14/2011

Common Stock

6,855

⁽⁹⁾

6,855

By spouse

Stock Option (right to buy)

$ 4.1077

08/21/2008

46,137

08/21/2008

08/08/2012

Common Stock

46,137

⁽¹⁰⁾

46,137

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Cormack Scott Daniel 400-1001 WEST BROADWAY VANCOUVER, A1 V6H 4B1	X		President & CEO

Signatures

/s/ Scott D. Cormack		08/21/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Received in exchange for 6,000 shares of OncoGenex Technologies Inc. ("OncoGenex Technologies") pursuant to an arrangement (the "Arrangement") between OncoGenex Technologies and OncoGenex Pharmaceuticals, Inc. ("OncoGenex Pharmaceuticals"). On the effective date of the Arrangement, the closing price of OncoGenex Pharmaceuticals' common stock was $5.04 per share, representing a closing price of $0.28 per share of Sonus Pharmaceuticals, Inc.'s common stock adjusted for an 18 to 1 reverse stock split.
(2)	Received in exchange for 4,664.2 shares of OncoGenex Technologies pursuant to the Arrangement.
(3)	Received in the Arrangement in exchange for a stock option to acquire 114,000 shares of OncoGenex Technologies common stock for CAD$0.90 per share.
(4)	Received in the Arrangement in exchange for a stock option to acquire 4,000 shares of OncoGenex Technologies common stock for CAD$0.90 per share.
(5)	Received in the Arrangement in exchange for a stock option to acquire 32,500 shares of OncoGenex Technologies common stock for CAD$0.90 per share.
(6)	Received in the Arrangement in exchange for a stock option to acquire 94,000 shares of OncoGenex Technologies common stock for CAD$0.90 per share.
(7)	Received in the Arrangement in exchange for a stock option to acquire 30,000 shares of OncoGenex Technologies common stock for CAD$0.90 per share.
(8)	Received in the Arrangement in exchange for a stock option to acquire 99,000 shares of OncoGenex Technologies common stock for CAD$0.90 per share.
(9)	Received in the Arrangement in exchange for a stock option to acquire 31,500 shares of OncoGenex Technologies common stock for CAD$0.90 per share.
(10)	Received in the Arrangement in exchange for a stock option to acquire 212,000 shares of OncoGenex Technologies common stock for CAD$0.95 per share.

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