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Oncothyreon reports full year and fourth quarter 2008 financial results
Date:3/9/2009

from our clinical trials with our products and our ability to adequately obtain and protect our intellectual property rights. Although we believe that the forward-looking statements contained herein are reasonable, we can give no assurance that our expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. For a detailed description of our risks and uncertainties, you are encouraged to review the official corporate documents filed with the securities regulators in the United States on U.S. EDGAR and in Canada on SEDAR. Oncothyreon does not undertake any obligation to publicly update its forward-looking statements based on events or circumstances after the date hereof.

Additional Information

Additional information relating to Oncothyreon can be found on U.S. EDGAR at www.sec.gov and on SEDAR at www.sedar.com.

                              Oncothyreon Inc.

    Consolidated Statements of Operations and Other Comprehensive Income
                                 (Loss) Data
          (in thousands of U.S. dollars, except per share amounts)
                                 (unaudited)


                                    Three Months Ended   Twelve Months Ended
                                        December 31          December 31
                                   --------------------  --------------------
                                       2008       2007       2008       2007
                                   ---------  ---------  ---------  ---------
    Revenue
      Contract research and
       development..............   $      -   $     29   $      -   $    631
      Contract manufacturing....     12,636      1,617     15,582      2,536
      Licensing revenue from
       collaborative
       agreements......
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SOURCE Oncothyreon Inc.
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