Cash outflow in 2009 is 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 for operating and capital expenditures in 2009 to be approximately $12 million.
Oncothyreon Pipeline Update
The following provides an update on Oncothyreon's product development candidates:
Stimuvax - Stimuvax is an investigational therapeutic cancer vaccine designed to induce an immune response to cancer cells that express MUC1, a glycoprotein antigen widely expressed on common cancers, including lung cancer, breast cancer, prostate cancer and colorectal cancer. Oncothyreon's partner for the development of Stimuvax, Merck KGaA, is actively enrolling patients in two global Phase 3 trials. Initiated in February 2007, START is a randomized, double-blind, placebo-controlled study in patients with documented unresectable stage III non-small cell lung cancer who have had a response or stable disease after at least two cycles of platinum-based chemo-radiotherapy. STRIDE is a randomized, double-blind, placebo-controlled study in patients with hormone receptor-positive, locally advanced, recurrent or metastatic breast cancer, initiated in June 2009.
In August 2009, clinical data relating to long-term treatment with Stimuvax were presented at the International Association for the Study of Lung Cancer's 13th World Conference on Lung Cancer in San Francisco. The data included nine patients (of 35 total) with Stage IIIb non-small cell lung cancer from the Phase 2b trial of Stimuvax who were alive and without evidence of disease progression from 6.3 to 8.2 years after beginning Stimuvax therapy. Prolonged therapy with Stimuvax was well-tolerated in this trial.
|SOURCE Oncothyreon Inc.|
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