UPDATE 2-FDA OKs amended prostate cancer drug trial - OncoGenex

* FDA, OncoGenex agree to modify late-stage trial

* Agreement modifies study population

* Shares rise as much as 18 pct (Adds analysts comments, updates share movement)

By Anand Basu

BANGALORE, June 24 (Reuters) - OncoGenex Pharmaceuticals Inc (OGXI.O: Quote, Profile, Research) said it reached an agreement with U.S. health regulators, through the special protocol assessment (SPA) process, to amend the design of a late-stage trial of its lead prostate cancer drug.

OncoGenex, which went public last August through a reverse merger with Sonus Pharmaceuticals Inc, had said in May that it was seeking a partner to develop the drug, OGX-011.

"I would be comfortable saying that partnership interest would intensify materially on recent regulatory development," Versant Partners analyst Douglas Loe said by phone.

Loe said the FDA's active participation in crafting the study design through the SPA and positive results from earlier mid-stage trial have eliminated risk factors.

Loe rates the stock at "buy" with a $28.50 price target.