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Nature of Business And Basis of Presentation
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6 Months Ended |
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Jun. 30, 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).
The unaudited financial statements have been prepared in accordance with generally accepted
accounting principles in the United States for interim financial information and with the
instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes
required to be presented for complete financial statements. The accompanying unaudited consolidated
financial statements reflect all adjustments (consisting only of normal recurring items) which are,
in the opinion of management, necessary for a fair presentation of the results for the interim
periods presented. The accompanying consolidated Balance Sheet at December 31, 2010 has been
derived from the audited consolidated financial statements included in the Company’s Annual Report
on Form 10-K for the year then ended. The consolidated financial statements and related disclosures
have been prepared with the assumption that users of the interim financial information have read or
have access to the audited consolidated financial statements for the preceding fiscal year.
Accordingly, these financial statements should be read in conjunction with the audited consolidated
financial statements and the related notes thereto included in the Annual Report on Form 10-K for
the year ended December 31, 2010 and filed with the United States Securities and Exchange
Commission (“SEC”) on March 10, 2011.
The consolidated financial statements include the accounts of OncoGenex and our wholly owned
subsidiary, OncoGenex Technologies Inc. (“OncoGenex Technologies”). All intercompany
balances and transactions have been eliminated.
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