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NEW YORK (TheStreet) -- Oncothyreon (ONTY) shares are up 15.5% to $3.94 on heavy volume trading Monday following the clinical stage biopharmaceutical company's presentation at this year's annual American Society of Clinical Oncology (ASCO) conference in Chicago.

The shares are rising after the company made a presentation showing that its HER2-positive metastatic breast cancer treatment candidate ONT-380 is effective and different from other current treatments.

The company showed that ONT-380 was successful in meaningfully shrinking of tumors in patients who were a part of the study because they were no longer responding to other prior treatments.

TheStreet's Adam Feuerstein has further coverage of Oncothyreon's presentation here.

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