Biotech, cancer, Finances
Oncothyreon Cash Will Last 12 Months
Luke Timmerman 5/14/09
Oncothyreon, the Seattle-based developer of cancer drugs, said today that it had $15.4 million in cash and investments at the end of March, according to its quarterly report. The company (NASDAQ: ONTY) expects to spend $12 million on operations in 2009, and win a milestone payment from its partner, Merck KGaA, which means it should have enough money to operate “for at least the next 12 months.”
Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.
