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News: May 21, 2012

Onyx Rises on Analyst View of Blood Cancer Drug

May 21, 2012

NEW YORK -- Onyx Pharmaceuticals Inc. shares rose Thursday after a Bernstein Research analyst started covering the stock with an "Outperform" rating, saying he thinks the company’s blood cancer drug candidate will reach $1 billion in annual sales by 2016.

THE SPARK: Analyst Geoffrey Porges said he thinks that the drug, Kyprolis, will win broad marketing approval from regulators in 2014. He said sales could reach $2 billion annually by 2020.

THE BIG PICTURE: The South San Francisco, Calif., company’s annual revenue in 2011 was $477.2 million, so that would be a big increase. Onyx sells a liver and kidney cancer drug, Nexavar, through a partnership with German drug maker Bayer AG.

Kyprolis, or carfilzomib, is an experimental treatment for multiple myeloma, a type of cancer that affects plasma cells in bone marrow. In November, Onyx asked the Food and Drug Administration to approve the drug for multiple myeloma patients who have gone through several other treatments. The FDA is scheduled to make a decision on that application in July. Onyx is conducting additional trials to win further approvals of the drug.

Onyx and Bayer are also studying an experimental colon cancer drug called regorafenib.

THE ANALYSIS: Porges began covering the stock with a price target of $74 per share.

SHARE ACTION: Onyx shares rose $2.45, or 5.6 percent, to close at $46.41 Thursday. The stock has traded between $35.73 and $47.80 in 2012.


Archive issues: (50)

Archive list: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

December 20, 2009 | Wii, Xbox 360 and Other Video Games Offer Some Benefits

Wii, Xbox 360, PlayStation, and other video games are hot on holiday gift lists, but some parents wonder whether these games offer any benefits or are detrimental to kids. The results of a new study may put some minds at ease, while others may not.  According to the findings ...

December 18, 2009 | Should You Be Shoveling Snow?

Yes, the weather outside is frightful, and soon you will have to think about shoveling snow. But should you be the one doing the work? Who should and should not shovel snow, and how can you do it safely?  Every winter, approximately 1,200 Americans die from a heart attack or another type of cardiac incident during or after a snowstorm, and shoveling snow is often the triggering event. Sometimes rushing ...

December 17, 2009 | Athletes who take NSAID's to prevent pain may be doing more harm than good

According to Stuart Warden, a researcher who studies musculoskeletal health and sports medicine, athletes who ritualistically take NSAID's to prevent post event and workout soreness and inflammation may be depriving the body of healing, in addition to risking other long term health problems. Taking anti ...

Archive list: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

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News

December 20, 2009

Wii, Xbox 360 and Other Video Games Offer Some Benefits

Wii, Xbox 360, PlayStation, and other video games are hot on holiday gift lists, but some parents wonder whether these games offer any benefits or are detrimental to kids. The results of a new study may put some minds at ease, while others may not.  According to the findings reported in the latest issue of Current Directions in Psychological Science, ...

December 18, 2009

Should You Be Shoveling Snow?

Yes, the weather outside is frightful, and soon you will have to think about shoveling snow. But should you be the one doing the work? Who should and should not shovel snow, and how can you do it safely?  Every winter, approximately 1,200 Americans die from a heart ...

December 17, 2009

Athletes who take NSAID's to prevent pain may be doing more harm than good

According to Stuart Warden, a researcher who studies musculoskeletal health and sports medicine, athletes who ritualistically take NSAID's to prevent post event and workout soreness and inflammation may be depriving the body of healing, in addition to risking other long term health problems. Taking anti inflammatory medications before running or ...

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