UPDATE: Oncothyreon Shares Drop After Q4 Results

Shares of

declined more than 6% in after-hours trading after the company reported a loss in the fourth quarter. The Seattle, Washington-based company posted a quarterly loss of $27.6 million, or $0.30 per share, versus a year-ago net loss of $6.4 million, or $0.09 per share. Analysts were expecting a loss of $0.09 per share. As of December 31, 2014, the company had $63.7 million in cash, cash equivalents and investments, versus $72.6 million at December 31, 2013. Oncothyreon posted a net loss for the year of $50.0 million, or $0.64 per share, versus a year-earlier net loss of $38.8 million, or $0.62 per share. Oncothyreon shares fell 6.90% to $1.47 in the after-hours trading session.