Shareholders Foundation, Inc.

Oncothyreon Inc (USA) (NASDAQ:ONTY) Investor Alert: Investigation of March 2012 Offering

An investigation for investors in Oncothyreon Inc (USA) (NASDAQ:ONTY) shares over potential securities laws violations by Oncothyreon Inc (USA) was announced and NASDAQ:ONTY stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (ReleaseWire) -- 03/04/2013 -- An investigation on behalf of investors of Oncothyreon Inc (USA) (NASDAQ:ONTY) shares over potential securities laws violations by Oncothyreon Inc and certain of its directors and officers in connection certain financial statements was announced.

Investors who purchased shares of Oncothyreon Inc (USA) (NASDAQ:ONTY) on March 29, 2012 or shortly after March 29, 2012, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Oncothyreon Inc (USA) (NASDAQ:ONTY) concerning whether a series of statements by Oncothyreon Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Oncothyreon Inc reported that its Net Loss increased from $15.62 million in 2010 to $42.66 million in 2011.

Shares of Oncothyreon Inc (USA) (NASDAQ:ONTY) traded in 2011 as high as$9.69 per share and as high as $8.79 per share in February 2012, but declined early March 2012 to under $5 per share.

Then on March 28, 2012, Oncothyreon Inc (USA) announced a proposed public offering of common stock and on March 29, 2012, it announced that it has priced the underwritten public offering of 11,750,000 shares of its common stock at a price to the public of $4.00 per share for gross proceeds of $47.0 million.

Shares of Oncothyreon Inc (USA) (NASDAQ:ONTY) increased to $6.16 per share in September 2012.

However, on Dec. 19, 2012, Oncothyreon announced that L-BLP25 (Stimuvax®) did not meet primary endpoint of improvement in overall survival in pivotal Phase 3 Trial in patients with non-small cell lung cancer.

Shares of Oncothyreon Inc (USA) (NASDAQ:ONTY) dropped from $4.50 per share on Dec. 18, 2012, to $18.4 per share on Dec. 28, 2012.

On March 1, 2012, NASDAQ:ONTY shares closed at $2.18 per share, which is significantly below its current 52 week High of $8.84 per share.

Those who purchased shares of Oncothyreon Inc (USA) (NASDAQ:ONTY) on March 29, 2012 or shortly after March 29, 2012, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com