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Oncothyreon reports full year and fourth quarter 2009 financial results
Date:5/6/2010

Concludes restatement of prior financial results

Company to hold conference call at 4:30 EDT today

SEATTLE, May 6 /PRNewswire-FirstCall/ - Oncothyreon Inc. (NASDAQ: ONTY) (the "Company") today reported financial results for the year and quarter ending December 31, 2009. The Company also announced today that it filed its Annual Report on Form 10-K for the year ended December 31, 2009 (the "2009 Form 10-K"), which concludes the restatement of its historical financial results.

2009 Financial Results

Net loss for the year ended December 31, 2009 was $17.2 million, or $0.76 per basic and diluted share, compared with net income, as restated, of $7.4 million, or $0.38 per basic and diluted share, for the year ended December 31, 2008. The change to net loss from net income was the result of a decrease in revenue to $2.1 million for the year ended December 31, 2009 from $40.3 million for the year ended December 31, 2008, as restated, and a non-cash charge of $6.2 million for the change in fair value of warrant liability in 2009, partially offset by a decrease in operating expenses to $12.9 million in 2009 from $33.2 million in 2008.

The decrease in revenue
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SOURCE Oncothyreon Inc.
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