San Diego, CA -- (SBWIRE) -- 05/08/2013 -- An investigation on behalf of investors, who purchased their NASDAQ:ONTY shares on March 29, 2013 or shortly after March 29, 2012, was announced. The investigation concerns whether Oncothyreon Inc potentially violated Federal Securities laws violation in connection certain financial statements.
If you purchased shares of on March 29, 2012 or shortly after March 29, 2012, you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concers 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.
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.
Then 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 $1.84 per share on Dec. 28, 2012.
On May 7, 2012, NASDAQ:ONTY shares closed at $2.60 per share, which is significantly below its current 52 week High of $6.24 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.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego