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Onyx Pharmaceuticals Reports 2008 First Quarter Results
Date:5/6/2008

the meaning of the federal securities laws. These forward-looking statements include without limitation, statements regarding sales trends and commercial activities and the timing, progress and results of clinical development, regulatory filings and actions. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated. Reference should be made to Onyx's Annual Report on Form 10-K for the year ended December 31, 2007, filed with the Securities and Exchange Commission under the heading "Risk Factors" for a more detailed description of such factors, as well as the company's subsequent quarterly reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release. Onyx undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

(See attached tables.)

ONYX PHARMACEUTICALS, INC.

SUMMARY FINANCIAL INFORMATION

CONDENSED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(unaudited)

Three Months Ended Mar. 31,

---------------------------

2008 2007

------- -------

Net revenue from unconsolidated joint

business $37,738 $3,025

Operating expenses:

Research and development (1) 7,438 5,534

Selling, general and administrative (1) 19,844
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SOURCE Onyx Pharmaceuticals, Inc.
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