Navigation Links
Onyx Pharmaceuticals Announces Fourth Quarter and Full Year 2008 Financial Results Teleconference and Webcast
Date:2/12/2009

EMERYVILLE, Calif., Feb. 12 /PRNewswire-FirstCall/ -- Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) today announced that it will webcast a teleconference with management to provide an update on Nexavar(R) (sorafenib) tablets, as well as to discuss fourth quarter and full year 2008 financial results, on Monday, February 23, 2009, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Financial results for the fourth quarter and year ended December 31, 2008 will be released earlier that day.

Interested parties may access a live webcast of the presentation on the company's website at: http://www.onyx-pharm.com/wt/page/event_calendar or by dialing 847-413-3238 and using the passcode 23828951. A replay of the presentation will be available on the Onyx website or by dialing 630-652-3044 and using the passcode 23828951 approximately one hour after the teleconference concludes. The replay will be available through March 23, 2009.

New Presentation of Statement of Operations

In December 2007, the Financial Accounting Standards Board (FASB) ratified Emerging Issues Task Force (EITF) 07-1, "Accounting for Collaborative Arrangements". Onyx has elected to adopt this new accounting guidance as of December 31, 2008, and as a result, the company's Statement of Operations for the year ending December 31, 2008 will be reported under this new presentation. This new presentation changes the classification of amounts included in specific lines in the Statement of Operations, but does not change net income (loss) or net income (loss) per share.

Under this new presentation, the Statement of Operations includes the line item "Revenue from Collaboration Agreement." This line item consists of Onyx's share of the commercial profit generated from the collaboration with Bayer, reimbursement of Onyx's shared marketing costs related to Nexavar and Nexavar royalty revenue. Onyx's 50% share of collaboration research and development expenses is included in the research and development expense line item.

In addition, all prior periods from January 1, 2006 through September 30, 2008 will be reclassified to conform to this new guidance and will be presented in Onyx's Form 8-K to be filed with the Securities and Exchange Commission prior to the fourth quarter and full year 2008 financial results call on February 23, 2009. For additional information on the structure of the company's new Statement of Operations, please visit the investor section of Onyx's website at http://www.onyx-pharm.com/wt/page/investors.

About Onyx Pharmaceuticals, Inc.

Onyx Pharmaceuticals, Inc. is a biopharmaceutical company committed to improving the lives of people with cancer by changing the way cancer is treated(TM). The company, in collaboration with Bayer HealthCare Pharmaceuticals, Inc., is developing and marketing Nexavar(R), a small molecule drug. Nexavar is currently approved for the treatment of liver cancer and advanced kidney cancer. Additionally, Nexavar is being investigated in several ongoing trials in non-small cell lung cancer, melanoma, breast cancer, and other cancers. For more information about Onyx, visit the company's website at http://www.onyx-pharm.com.

Nexavar(R) (sorafenib) tablets is a registered trademark of Bayer Pharmaceuticals Corporation.


'/>"/>
SOURCE Onyx Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Union Springs Pharmaceuticals Introduces New, More Effective Respirator
2. ISTA Pharmaceuticals Announces Conference Call and Webcast of Fourth Quarter and Full-Year 2008 Financial Results
3. DOR BioPharma Announces Potential $30 Million North American Partnership Agreement with Sigma-Tau Pharmaceuticals for orBec(R) in the Treatment of Graft-versus-Host Disease
4. Portola Pharmaceuticals Enters Worldwide License Agreement for Development and Commercialization of Novel Antiplatelet Drug Elinogrel
5. Valeant Pharmaceuticals to Announce 2008 Fourth Quarter and Year Results on February 24, 2009
6. Biotest Pharmaceuticals Corporation Acquires Santa Fe, New Mexico Plasmapheresis Center
7. Peregrine Pharmaceuticals Bavituximab Achieves Primary Endpoint in First Stage of Phase II Breast Cancer Study
8. Par Pharmaceutical Announces Outcome of the Litigation With Pentech Pharmaceuticals
9. Mpex Pharmaceuticals Announces Series D Financing of Up to $40 Million
10. Prism Pharmaceuticals Study of Injectable Clopidogrel Accepted for Presentation at the American College of Cardiology
11. Genesis Pharmaceuticals Successfully Defends Itself in a Multi-Million Dollar Arbitration, Two Other Arbitration Proceedings Against Genesis are Withdrawn
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/2/2016)... (PRWEB) , ... May 02, 2016 , ... ... at a residential inpatient rehabilitation center can find some useful information in a ... located in Central Michigan. This video, which can be viewed on the Serenity ...
(Date:5/2/2016)... ... 02, 2016 , ... The Beryl Institute announces the publication ... international, open access, peer-reviewed journal focused on research and proven practices around understanding ... authors, the third volume of PXJ continues to expand PXJ's reach both with ...
(Date:5/2/2016)... Austin, Texas (PRWEB) , ... May 02, 2016 , ... ... return. As a token of appreciation, pet owners celebrate National Pet Week, which falls ... 7 in 2016, remind pet owners to cherish the human-animal bond and recognize responsible ...
(Date:5/2/2016)... ... 2016 , ... The Civilian Corps of the U.S. Army Medical Command (MEDCOM) ... for its uniformed service members, the retired service members, their families and other eligible ... May 12th National Nurses Week. It acknowledges the hard work and dedication of the ...
(Date:5/2/2016)... ... May 02, 2016 , ... Amica Life Insurance ... understand life insurance throughout various life stages. , The site launched on April ... calculator and content specific to the times when life insurance matters most. , ...
Breaking Medicine News(10 mins):
(Date:5/2/2016)... Leading Economies with Fastest Real GDP Annual Percentage Change, 2015  ... 7.3, , Source: IMF and TechSci Research   ... Brazil , Russia , India , ... the fastest GDP growth during the first decade of the 21 st ... Brazil and Russia , along with policy ...
(Date:5/2/2016)... N.J. , May 2, 2016  Celsion ... development company, today announced data from the first ... escalating clinical trial (the OVATION Study) combining GEN-1, ... care for the treatment of newly-diagnosed patients with ... followed by interval debulking surgery.  In the first ...
(Date:4/29/2016)... April 29, 2016 ReportsnReports.com ... 2016" market research report that provides an overview ... analysis at various stages, therapeutics assessment by drug ... (RoA) and molecule type, along with latest updates, ... reviews key players involved in the therapeutic development ...
Breaking Medicine Technology: