Oncothyreon, Inc. (ONTY) Misses Q1 EPS by 2c

Oncothyreon, Inc. (NASDAQ: ONTY) reported Q1 EPS of ($0.14), $0.02 worse than the analyst estimate of ($0.12).

As of March 31, 2014, Oncothyreon's cash, cash equivalents and investments were $64.3 million, compared to $72.6 million at December 31, 2013, a decrease of $8.3 million, or 11.4 percent. The decrease was primarily attributable to $8.0 million of cash used in operations during the quarter ended March 31, 2014.

Financial Guidance

Oncothyreon currently expects operating expenses in 2014 to be lower than in 2013, which included the one-time upfront payment to Array. Oncothyreon currently expects cash used in operations in 2014 to be approximately $30 to $33 million. As a result, Oncothyreon estimates that its existing cash, cash equivalents and investments will be sufficient to fund operations for at least the next 12 months.

For earnings history and earnings-related data on Oncothyreon, Inc. (ONTY) click here.

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