Oncothyreon reports first quarter 2009 financial results

Oncothyreon Inc. (NASDAQ:ONTY) (TSX: ONY) (the "Company") reported a net loss of $2.5 million or $0.13 per basic and diluted share for the quarter ended March 31, 2009, compared with a net loss of $5.1 million or $0.26 per basic and diluted share for the comparable period in 2008. The decrease in net loss is primarily the result of the transfer of manufacturing activities for Stimuvax(R) to Merck KGaA in December 2008, resulting in a decrease of combined research and development and manufacturing expenses partly offset by a decrease in both contract manufacturing revenue and licensing revenue from collaborative agreements.

Total revenue was $4,000 in the first quarter...

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