Oncothyreon Inc. (ONTY) Reports Third Quarter 2012 Financial Results
11/8/2012 1:35:55 PM
SEATTLE, Nov. 7, 2012 /PRNewswire/ - Oncothyreon Inc. (NASDAQ: ONTY) today reported financial results for the third quarter ending September 30, 2012.
Loss from operations increased in the third quarter of 2012 to $7.7 million from $6.4 million in the third quarter of 2011, and to $21.5 million for the nine months ended September 30, 2012 compared to $18.1 million for the comparable period in 2011. This increase in loss from operations for the three and nine months ended September 30, 2012 compared to prior year periods was primarily the result of increased research and development expenses due to increased development activity for Oncothyreon's product candidates and increased general and administrative expenses.