Onyx Pharmaceuticals Reports Fourth Quarter and Twelve-Month 2007 Financi... (ate of this release. Onyx undertakes no ...)

Onyx Pharmaceuticals Reports Fourth Quarter and Twelve-Month 2007 Financial Results

Date:2/19/2008

ate 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.

CONDENSED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(unaudited)

Three Months Ended Twelve Months Ended

Dec. 31, Dec. 31,

2007 2006 2007 2006

Total revenue $ - $ - $ - $ 250

Operating expenses:

Net expense due to (from)

unconsolidated joint business (4,406) 3,768 (32,536) 23,915

Research and development (1) 5,531 6,856 25,413 30,980

Selling, general and

administrative (1) 16,406 13,075 60,546 50,019

Total operating expenses 17,531 23,699 53,423 104,914

Loss from operations (17,531) (23,699) (53,423) (104,664)

Interest income 5,829 2,992 19,256 11,983

Net loss $(11,702) $(20,707) $(34,167) $(92,681)

Net loss per basic share: $ (0.21) $ (0.47) $ (0.67) $ (2.20)

Shares used in computing basic

net loss per share: 55,212 44,441 51,177 42,170

(1) Includes employee stock-based

compensation charges of:

Research and development $ 851 $ 535 $ 2,897 $ 2,545

Selling, general, and

administrative $ 3,010 $ 2,666 $ 11,230 $ 11,496

$ 3,861 $ 3,201 $ 14,127 $ 14,041

ONYX PHARMACEUTICALS, INC.

CALCULATION OF NET EXPENSE DUE (FROM
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