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ONYX (ONXX): Deal or No Deal Time For Payoff

  Tuesday, November 29, 2011

When Onyx (ONXX) announced its intention to acquire the privately held company Proteolix in 2009, investors rushed to sell the stock. Investors are brainwashed into selling any biotech firm that would spend money, regardless of the reason for spending, including acquiring firms with promising breakthrough drugs in final phase trials. As a matter of fact, Onyx’ acquisition of Proteolix added to its products’ portfolio a new generation proteasome inhibitor, Carfilzomib, a drug designed for resistant multiple myeloma. Takeda’s breakthrough drug Velcade (bortezomib) and Celgene’s drug Revlimid (lenolidamide) considered top treatments for multiple myeloma could not prevent the cancer from offsetting their efficacy on a large percentage of patients. In contrast, clinical trials demonstrated that Carfilzomib has broken the cancer’s capability to recur and resist in a substantial percentage of late-stage cancer patients. The new drug is definitely more effective proteasome inhibitor than the current treatments, in addition to having a better safety profile, especially with regard to the intractable pain and numbness that patients experience with Velcade. More...

THE ONYX MONTH

  Thursday, October 27, 2011

Has the time come now for this firm to bear the fruit of its long-term efforts? Much has happened for Onyx (ONXX) in one month – all good news and all promising news for a company that is already a member in the club of companies that have important approved drugs, which enabled them to grow and become more achieving. The first good news came when Onyx announced filing NDA with the FDA for the approval of its new generation proteasome inhibitor carfilzomib, for relapsed or relapsed/refractory multiple myeloma and solid tumors. This news was followed by Onyx announcing it has entered into a new agreement with its partner Bayer, upon, which Onyx obtained rights for Bayer’s late-stage cancer compound regorafenib. Yes, a new agreement that gives Onyx royalties on a very important and successful Bayer’s cancer drug sales, in addition to contracting Onyx sales force to promote regorafenib, along with Bayer sales representatives, in the United States.   More...

ONYX’ drug Carfilzomib delayed the need for a stem cell transplant

  Wednesday, December 15, 2010

In October 8, 2010, we posted on our website a multiple-choice question, asking those who perpetrated pessimistic news about Onyx (ONXX), which led to a stock selloff to explain the reason for their pessimism towards this firm. The question was:  More...

Onyx (ONXX) Was Right All Along

  Monday, July 26, 2010

In October 2009, Onyx (ONXX) paid $276 million up front to acquire the privately held Proteolix to get to its multiple myeloma drug carfilzomib. It promised $535 million in future payments largely contingent on carfilzomib's approval. As usual, investors did not like Onyx paying money, because investors do not like any company to pay money to develop or acquire state-of-the- art products. When somebody hates something he sees everything in it with pessimism. Onyx put its hands on carfilzomib, which looked very promising for multiple myeloma cases resistant to current treatments. The breakthrough multiple myeloma drugs Velcade (bortezomib) and Revlimid (lenolidamide) could not prevent the cancer from recurring and failed to work at all on a large percentage of recurrent cancer.  More...


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