Oncothyreon Cash Will Last 12 Months

Xconomy Seattle — 

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.”