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UPDATE 1-Oncothyreon posts wider Q3 net loss

Wed Nov 11, 2009 5:43pm EST

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* Q3 loss/shr $0.24 vs yr-ago loss/shr $0.18

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* Records non-cash charge of $3.2 mln

* Shares down more than 6 pct in after-market trade

Nov 11 (Reuters) - Oncothyreon Inc (ONTY.O) posted a wider third-quarter net loss, hurt by a non-cash charge and drop in revenue resulting from the transfer of manufacturing activities for Stimuvax cancer vaccine to Merck KGaA (MRCG.DE) in December 2008.

For the quarter ended Sept. 30, the company posted a loss of $5.9 million, or 24 cents a share, compared with a loss of $3.6 million, or 18 cents a share, a year ago.

Revenue fell to $4,000 from $802,000 in the year-ago period. Oncothyreon recorded a non-cash charge of $3.2 million in the quarter for the change in the fair value of warrants related to its securities offering in May, the company said in a statement.

Shares of the company fell to $4.68 in after market trade. They closed at $5.00 Wednesday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Maju Samuel)

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