Oncothyreon Inc. Reports Full Year and Fourth Quarter 2012 Financial Results
SEATTLE, WA, March 14, 2013 /PRNewswire/ - Oncothyreon Inc. (NASDAQ: ONTY) today reported financial results for the year and quarter ending December 31, 2012.
Loss from operations for the year ended December 31, 2012 was $28.5 million, compared with $24.7 million for the year ended December 31, 2011. The increase in loss from operations primarily resulted from an increase in research and development expenses to $22.0 million from $17.9 million, partially offset by a decrease in general and administrative expenses to $6.5 million from $6.9 million.
Loss from operations for the year ended December 31, 2012 was $28.5 million, compared with $24.7 million for the year ended December 31, 2011. The increase in loss from operations primarily resulted from an increase in research and development expenses to $22.0 million from $17.9 million, partially offset by a decrease in general and administrative expenses to $6.5 million from $6.9 million.