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Biopharmaceutical Stock Alert: Onyx Pharmaceuticals (NASDAQ: ONXX) Big Moves on FDA Positive Vote

Category: Investment, Biotech

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News about Onyx Pharmaceuticals, Inc.

New York, New York - June 21, 2012 (Investorideas.com Newswire) Investorideas.com, an investor research portal specializing in sector research including biotech and pharma stocks, issues a trading alert for Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX), one of the NASDAQ’s top gainers, trading at $62.18, up $17.60 or (39.48%) as of 11:14AM EDT on over 16 Million shares. The stock has a morning high of $63.22.

The Company announced yesterday that the U.S. FDA's Oncologic Drugs Advisory Committee (ODAC) determined by a vote of 11-0 [with 1 abstention] that, in patients with relapsed and refractory multiple myeloma who have received at least two prior lines of therapy that included a proteasome inhibitor and an immunomodulatory agent (IMiD), the benefit-risk assessment is favorable for the use of Kyprolis™ (proposed brand name for carfilzomib). Onyx is developing Kyprolis for use in multiple myeloma across a variety of treatment lines.

Investorideas.com Newswire

About Onyx Pharmaceuticals, Inc.

Based in South San Francisco, California, Onyx Pharmaceuticals, Inc. is a global biopharmaceutical company engaged in the development and commercialization of innovative therapies for improving the lives of people with cancer. The company is focused on developing novel medicines that target key molecular pathways. For more information about Onyx, visit the company's website at www.onyx.com.

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