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Oncothyreon reports second quarter 2009 financial results
Date:8/12/2009

re expected to be substantially less than in 2008, primarily as a result of transferring manufacturing and process development activities for Stimuvax to Merck KGaA and of the previously announced plan to restrict development activities to PX-478 and PX-866. Oncothyreon currently expects cash used in operations in 2009 to be approximately $12 million.

    Oncothyreon Highlights for 2009

    Oncothyreon's corporate highlights for the year 2009 to date include the
    following:

    -   Expansion of the Phase 3 development program for Stimuvax with the
        initiation of the STRIDE trial in hormone receptor-positive, locally
        advanced, recurrent or metastatic breast cancer by Oncothyreon's
        partner Merck KGaA. Stimuvax is also being studied in the Phase 3
        START trial in non-small cell lung cancer (NSCLC).
    -   Presentation of long-term data for Stimuvax in NSCLC at the
        International Association for the Study of Lung Cancer's 13th World
        Conference on Lung Cancer. The data involved 16 patients who received
        treatment with Stimuvax for between 2 and 8.2 years as part of the
        Phase 2b trial in patients with stage IIIb/IV NSCLC. As of the time
        of data analysis in April 2009, 10 of the 16 studied patients were
        alive without evidence of disease progression, of whom eight
        continued to receive therapy with Stimuvax after 6.3 to 8.2 years.
        The remaining two living patients discontinued Stimuvax therapy after
        2.4 and 5.8 years, respectively, and were without evidence of disease
        progression.
    -   Presentation of preliminary results from the Phase 1 trial of PX-866,
        an inhibitor of PI-3 kinase, at the American Society of Clinical
        Oncology. The data demonstrated inhibition of PI-3 kinase activity at
        low doses, as well as stabilization of disease in six of 24 patients
        with previously progressive d
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SOURCE  Oncothyreon Inc.
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