August 12, 2009 / 9:33 PM / 8 years ago

UPDATE 1-Oncothyreon posts wider Q2 net loss

* Loss/shr $0.30 vs yr-ago loss/shr $0.25

* Records non-cash charge of $2.5 mln

* Shares down 4 pct after market

Aug 12 (Reuters) - Oncothyreon Inc ONTY.O ONY.TO posted a wider second-quarter net loss due to a non-cash charge and lower revenue resulting from the transfer of manufacturing activities for Stimuvax cancer vaccine to Merck KGaA (MRCG.DE) in Dec 2008.

The transfer resulted in a decrease in both contract manufacturing and licensing revenue from collaborative agreements, the company said in a statement.

Total revenue fell to $31,000, from $1.2 million in the year-ago period.

For the quarter ended June 30, the company posted a net loss of $6.3 million, or 30 cents a share, compared with a net loss of $4.9 million, or 25 cents a share, a year ago.

Oncothyreon recorded a non-cash charge of $2.5 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 were down 4 percent at $5.70 in after market trade. They closed at $5.94 Wednesday on Nasdaq.

For the alerts, please double-click [ID:nWNBB4633] (Reporting by Shailesh Kuber in Bangalore; Editing by Anil D'Silva)

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