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Nature of Business and Basis of Presentation
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12 Months Ended |
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Dec. 31, 2011
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| Nature of Business and Basis of Presentation [Abstract] | |
| NATURE OF BUSINESS AND BASIS OF PRESENTATION |
1. NATURE OF BUSINESS AND BASIS OF PRESENTATION OncoGenex Pharmaceuticals, Inc. (the “Company” or “OncoGenex”) is committed to the development and commercialization of new therapies that address treatment resistance in cancer patients. The Company was incorporated in the state of Delaware and, together with its subsidiaries, has a facility in Bothell, Washington and an office in Vancouver, British Columbia (Canada). During the year ended December 31, 2009, the Company exited the development stage. Previously from its inception, the Company was a development stage company in accordance with Accounting Standards Codification, or ASC, 915, Accounting and Reporting by Development Stage Enterprises. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. The consolidated financial statements include the accounts of OncoGenex Pharmaceuticals, Inc. and our wholly owned subsidiaries, OncoGenex Technologies and OncoGenex, Inc. OncoGenex, Inc. ceased operations in 2009 and were subsequently dissolved. All intercompany balances and transactions have been eliminated. Liquidity The Company has historically experienced recurring losses from operations that have generated an accumulated deficit of $80.7 million through December 31, 2011. At December 31, 2011, the Company had cash, cash equivalents and short-term investments of $64.9 million. |