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Oncothyreon reports third quarter 2009 financial results & provides product pipeline update
Date:11/11/2009

SEATTLE, Nov. 11 /PRNewswire-FirstCall/ - Oncothyreon Inc. (NASDAQ: ONTY) today reported financial results for the three and nine months ended September 30, 2009 and provided a product pipeline update. Management will hold a conference call today at 4:30 p.m. ET, 1:30 p.m. PT (see below for details).

Oncothyreon reported a loss from operations of $2.8 million for the three months ended September 30, 2009, compared with a loss from operations of $3.6 million for the comparable period in 2008. Oncothyreon also reported a loss from operations of $9.0 million for the nine months ended September 30, 2009, compared with a loss from operations of $13.7 million for the comparable period in 2008. For both the three-month and nine-month periods, the decrease in loss from operations was primarily the result of decreased research and development, manufacturing and general and administrative expenses, offset by a decrease in revenue.

Operating expenses for the three and nine months ended September 30, 2009 were $2.8 million and $9.1 million respectively, compared with $4.4 million and $17.7 million for the comparable periods in 2008. Combined research and development and manufacturing expenses decreased to $1.3 million for the three months ended September 30, 2009 from $2.1 million for the three months ended September 30, 2008, and to $4.0 million from $9.5 million for the nine month periods, primarily as a result of the cessation of manufacturing activities for Stimuvax and the transfer of our Edmonton, Alberta facility to Merck KGaA. General and administrative expenses decreased to $1.4 million in the three months ended September 30, 2009 from $2.1 million in the three months ended September 30, 2008. General and administrative expenses decreased to $4.9 million in the first nine months of 2009 from $7.8 million in the first nine months o
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SOURCE Oncothyreon Inc.
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