Oncothyreon (ONTY) Reports In-Line Q1 EPS

Oncothyreon (NASDAQ: ONTY) reported Q1 EPS of ($0.08), in-line with the analyst estimate of ($0.08).

As of March 31, 2015, Oncothyreon's cash, cash equivalents and investments were $77.5 million, compared to $63.7 million at December 31, 2014, an increase of $13.8 million, or 21.7 percent. The increase was primarily attributable to the net proceeds of $22.4 million from the closing of concurrent but separate underwritten offerings of common stock and Series B convertible preferred stock in February 2015, partially offset by $8.2 million of cash used in operations during the three months ended March 31, 2015.

Oncothyreon currently expects operating expenses in 2015 to be lower than in 2014, which included the upfront payment to Array for the exclusive license to ONT-380. Oncothyreon currently expects cash used in operations in 2015 to be approximately $35.0 - $38.0 million.

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

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