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Onyx Pharmaceuticals Reports Second Quarter and Six-Month 2008 Financial Results
Date:8/5/2008

t 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.

CONDENSED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(unaudited)

Three Months Ended Six Months Ended

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

Jun. 30, Jun. 30,

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

2008 2007 2008 2007

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

Net revenue from unconsolidated

joint business $30,199 $7,470 $67,937 $10,495

Operating expenses:

Research and development (1) 8,625 6,448 16,062 11,982

Selling, general and

administrative (1) 19,822 15,712 39,667 28,895

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

Total operating expenses 28,447 22,160 55,729 40,877

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

Income (loss) from operations 1,752 (14,690) 12,208 (30,382)

Investment income 2,662 3,864 7,933 7,361

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

Income (loss) before income taxes 4,414 (10,826) 20,141 (23
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SOURCE Onyx Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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