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news.US-based biopharmaceutical company Oncothyreon has announced that it intends to offer 5.1 million shares of its common stock in a fully-underwritten, public offering.
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Oncothyreon expects to begin marketing the offering in the second week of September, 2008.
The per share offering price to the public will be determined based on market conditions.
Oncothyreon intends to use the net proceeds from this offering for general corporate purposes, including research and product development, such as funding pre-clinical studies and clinical trials and otherwise moving product candidates towards commercialization. Boenning & Scattergood will act as the book-running manager for the transaction.