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Oncothyreon reports second quarter 2010 financial results
Date:8/5/2010

SEATTLE, Aug. 5 /PRNewswire-FirstCall/ - Oncothyreon Inc. (NASDAQ: ONTY) today reported a net loss of $4.3 million or $0.17 per basic and diluted share for the quarter ended June 30, 2010, compared with a net loss of $6.3 million or $0.30 per basic and diluted share for the comparable period in 2009. Oncothyreon also reported a net loss of $5.1 million or $0.20 per basic and diluted share for the six months ended June 30, 2010, compared with a net loss of $8.8 million or $0.43 per basic and diluted share for the six months ended June 30, 2009. The decrease in net loss for the three and six months ended June 30, 2010 compared to the prior year periods was primarily attributable to a decrease in expense related to the change in fair value of warrant liability partially offset by increases in research and development and general and administrative expenses.

Research and development expenses increased to $2.8 million in the second quarter of 2010 from $2.0 million in the second quarter of 2009, and to $5.3 million for the first six months of 2010 from $2.7 million for the first six months of 2009, reflecting increased development and manufacturing activity for Oncothyreon's product candidates PX-866 and ONT-10. General and administrative expenses increased to
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SOURCE Oncothyreon Inc.
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