Oncothyreon Announces Exercise of Underwriters' Over-Allotment Option and Closing of $46.0 Million Public Offering of Common Stock (ONTY)

Oncothyreon Inc. ONTY today announced that it has closed an underwritten public offering of 11,500,000 shares of its common stock at a price to the public of $4.00 per share for gross proceeds of $46.0 million. The shares include 1,500,000 shares of common stock sold pursuant to the over-allotment option granted by the Company to the underwriters, which option was exercised in full. The net proceeds from the sale of the shares, after deducting the underwriters' discounts and other estimated offering expenses payable by Oncothyreon, will be approximately $43.0 million.