Onyx Pharmaceuticals Reports Second Quarter and Six-Month 2008 Financi...(------------------ ---------------- .....)

Jun. 30, Jun. 30,

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2008 2007 2008 2007

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GAAP net income (loss) $4,474 $(10,826) $19,892 $(23,021)

Non-GAAP adjustments:

Employee stock-based compensation

under FAS 123R $4,253 $3,634 $9,469 $6,626

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Non-GAAP net income (loss) (3) $8,727 $(7,192) $29,361 $(16,395)

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GAAP diluted net income (loss) per

share $0.08 $(0.22) $0.35 $(0.49)

Non-GAAP adjustments:

Employee stock-based compensation

under FAS 123R $0.07 $0.07 $0.17 $0.14

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Non-GAAP diluted net income (loss)

per share (3) $0.15 $(0.15) $0.52 $(0.35)

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Diluted shares 56,472 48,242 56,534 47,265

(3) This press release includes the following non-GAAP financial

measures: non-GAAP net income (loss) and non-GAAP diluted net income

(loss) per share, both of which exclude the impact of employee stock-based

compensation expense. The foregoing table reconciles these non-GAAP

measures to the most comparable financial measures calculated in

accordance with GAAP.

Our management uses these non-GAAP financial measures to monitor and

evaluate our operating results and trends on an on-
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