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8-K - FORM 8-K - Cascadian Therapeutics, Inc. | v59041e8vk.htm |
Exhibit 99.1
Oncothyreon Announces Proposed Public Offering of Common Stock
SEATTLE, WASHINGTON April 28, 2011 Oncothyreon Inc. (NASDAQ: ONTY) today announced its
intention to offer, subject to market and other conditions, shares of its common stock in an
underwritten public offering. Oncothyreon also expects to grant the underwriters a 30-day option to
purchase up to an additional 15 percent of the shares of common stock offered in the public
offering to cover over-allotments, if any. The proceeds of the offering will primarily be used to
fund the development of PX-866, Oncothyreons PI-3 Pan-isoform irreversible Kinase inhibitor, and
ONT-10, Oncothyreons proprietary follow-on vaccine to Stimuvax. Stimuvax, currently in a Phase 3
pivotal trial, is a vaccine for patients with non-small cell lung cancer and is partnered with
Merck KGaA. The offering proceeds may also be used for general corporate purposes.
Cowen and Company, LLC is acting as the sole book-running manager for the offering, and Wedbush
PacGrow Life Sciences is acting as co-manager.
Oncothyreon intends to offer and sell these securities pursuant to its existing shelf registration
statement (File No. 333-173227) filed with the Securities and Exchange Commission on April 1, 2011,
which was declared effective on April 8, 2011. A prospectus supplement describing the terms of the
offering will be filed with the Securities and Exchange Commission and will form a part of the
effective registration statement. Copies of the prospectus supplement and accompanying prospectus
relating to the offering may be obtained, when available, from Cowen and Company, LLC (c/o
Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus
Department, Phone: 631-274-2806, Fax: 631-254-7140). An electronic copy of the prospectus
supplement and accompanying relating to the offering is available on the website of the Securities
and Exchange Commission at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of offers to buy any
securities of Oncothyreon, and shall not constitute an offer, solicitation or sale of any security
in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state or jurisdiction.
About Oncothyreon
Oncothyreon is a biotechnology company specializing in the development of innovative therapeutic
products for the treatment of cancer. Oncothyreons goal is to develop and commercialize novel
synthetic vaccines and targeted small molecules that have the potential to improve the lives and
outcomes of cancer patients.
Forward-Looking Statements
In order to provide Oncothyreons investors with an understanding of our current intentions and
future prospects, this release may contain statements that are forward-looking. Any statements
contained in this press release that are not statements of historical fact may be deemed to be
forward-looking statements. Words such as believes, anticipates, plans, expects, will,
intends, potential, possible and similar expressions are intended to identify forward-looking
statements. These forward-looking statements include our expectations regarding future expenses,
clinical development activities, the timing of clinical trial results and the use and adequacy of
cash resources.
Forward-looking statements involve risks and uncertainties related to our business and the general
economic environment, many beyond our control. These risks, uncertainties and other factors could
cause our actual results to differ materially from those projected in forward-looking statements,
including market risk, the risks associated with the costs and expenses of developing our product
candidates, the adequacy of financing and cash reserves on hand, changes in general accounting
policies, general economic factors, achievement of the results we anticipate from clinical trials
with our products and our ability to adequately obtain and protect our intellectual property
rights.
Although we believe that the forward-looking statements contained herein are reasonable, we can
give no assurance that our expectations are correct. All forward-looking statements are expressly
qualified in their entirety by this cautionary statement. For a detailed description of our risks
and uncertainties, you are encouraged to review the official corporate documents filed with the
securities regulators in the United States on U.S. EDGAR and in Canada on SEDAR. Oncothyreon does
not undertake any obligation to publicly update its forward-looking statements based on events or
circumstances after the date hereof.
Additional Information
Additional information relating to Oncothyreon can be found on U.S. EDGAR at www.sec.gov and on
SEDAR at www.sedar.com.
Investor and Media Relations Contact:
Julie Rathbun
Rathbun Communications
206-769-9219
ir@oncothyreon.com
Rathbun Communications
206-769-9219
ir@oncothyreon.com
ONCOTHYREON INC. 2601 Fourth Avenue, Suite 500, Seattle, WA 98121
Tel: (206) 801-2100 Fax: (206) 801-2101
http://www.oncothyreon.com
Tel: (206) 801-2100 Fax: (206) 801-2101
http://www.oncothyreon.com