Oncothyreon to begin trading today on NASDAQ and TSX
December 11 2007 - 7:00AM
PR Newswire (US)
BELLEVUE, WA, Dec. 11 /PRNewswire-FirstCall/ -- Oncothyreon Inc.
(NASDAQ: ONTY) (TSX:ONY) today announced that its common stock will
begin trading on the Nasdaq Global Market under the symbol ONTY and
on the Toronto Stock Exchange under the symbol ONY at the opening
of trading today. Oncothyreon Inc. is the new name for the former
Biomira Inc., as the result of a plan of arrangement under which
Biomira has moved its jurisdiction of incorporation from Canada to
the state of Delaware in the United States. Shareholders of the
former Biomira received one share of Oncothyreon common stock for
each six shares of Biomira that they held, and the trading price
today will reflect this effective reverse split. "Today represents
a major milestone in our plan for Oncothyreon to become a leading
developer of innovative therapeutic products in oncology," said
Robert L. Kirkman, M.D. President and Chief Executive Officer of
Oncothyreon. "Oncothyreon begins its new existence with a strong
product pipeline of therapeutic vaccines and targeted small
molecules for the treatment of cancer. We intend to focus on moving
this pipeline forward as rapidly as possible, both through internal
efforts and potential partnerships, while we continue to seek new
product opportunities through in-licensing and acquisition." About
Oncothyreon Oncothyreon is a biotechnology company specializing in
the development of innovative therapeutic products for the
treatment of cancer. Oncothyreon's 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
Oncothyreon's investors with an understanding of its current
intentions and future prospects, this release contains statements
that are forward looking, including statements relating to the
clinical development of its products and future business plans.
These forward-looking statements represent Oncothyreon's
intentions, plans, expectations and beliefs and are based on its
management's experience and assessment of historical and future
trends and the application of key assumptions relating to future
events and circumstances. Forward-looking statements involve risks
and uncertainties, including risks and uncertainties related to
Oncothyreon's business and the general economic environment. Many
of these risks and uncertainties are beyond Oncothyreon's control.
These risks, uncertainties and other factors could cause our actual
results to differ materially from those projected in
forward-looking statements. Risks, uncertainties, and assumptions
include those predicting the speed of clinical development of
Oncothyreon's products and future business plans and the other
risks and uncertainties described in the reports and other
documents filed by either Biomira Inc. or Oncothyreon Inc. with the
SEC and/or Canadian regulatory authorities. Although Oncothyreon
believes that any forward-looking statements contained herein are
reasonable, it can give no assurance that its expectations are
correct. All forward-looking statements are expressly qualified in
their entirety by this cautionary statement. For a detailed
description of the risks and uncertainties associated with
Oncothyreon, you are encouraged to review the official corporate
documents filed by either Biomira Inc. or Oncothyreon Inc. with the
securities regulators in United States and Canada with the SEC and
on SEDAR. Oncothyreon is under no obligation to (and expressly
disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events, or otherwise. DATASOURCE: Biomira Inc. CONTACT:
Investor and Media Relations Contact: Julie Rathbun, Rathbun
Communications, (206) 769-9219,
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