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: [[ticker: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.”
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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