Cascadian Therapeutics (CASC)

[Manalo84]

(ONTY) Oncothyreon Inc. changes its name

http://www.streetinsider.com/Corporate+News/Oncothyreon+(ONTY)+Changes+Name+to+Cascadian+Therapeutics%3B+Will+Begin+Trading+Under+Ticker+CASC/11720500.html

Oncothyreon (ONTY) Changes Name to Cascadian Therapeutics; Will Begin Trading Under Ticker 'CASC'

Oncothyreon Inc. (Nasdaq: ONTY) (Nasdaq: CASC) announced that the Company is changing its name to Cascadian Therapeutics, Inc. and will trade on the NASDAQ Global Select Market under the new ticker symbol “CASC,” effective at market open on June 9, 2016.

The new name reflects the change in the Company’s focus from therapeutic vaccines to advancing targeted treatments for cancer. The Company’s lead product candidate, ONT-380, is an orally bioavailable, highly selective small molecule HER2 inhibitor being developed as a combination therapy to treat HER2+ advanced or metastatic breast cancer.

“We chose to implement a new name to emphasize our organization’s transformation and vision for the future,” said Scott Myers, President and CEO of Cascadian Therapeutics. “By incorporating the imagery of the Cascade Mountains, our goal was to highlight our Company’s heritage, but more importantly, to underscore our transition away from therapeutic vaccines to developing innovative targeted therapies for cancers, with a lead indication for metastatic HER2+ breast cancer. HER2CLIMB, our Phase 2 randomized, double-blind, placebo-controlled trial, was also named in the spirit of our mission to improve outcomes in this disease. We look forward to providing an update on this important program at our upcoming R&D Day.”

On June 14th at 2 p.m. Eastern, the Company will present updated data from the ongoing “Triplet” Phase 1b trial, in addition to the future product development plans for ONT-380, at the Company’s R&D Day in New York City. The webcast will be available on the Events and Presentations Page of the Company’s website at www.cascadianrx.com.

No action is required by stockholders with respect to the name change. The Company's common stock has been assigned a new CUSIP number of 14740B 101 in connection with the name change. Outstanding stock certificates are not affected by the name change and will not need to be exchanged.