Onyx Pharmaceuticals Reports Fourth Quarter and Twelve-Month 2007 Financi... () TO UNCONSOLIDATED JOINT BUSINESS ...)

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

Date:2/19/2008

) TO UNCONSOLIDATED JOINT BUSINESS

Three Months Ended Twelve Months Ended

Dec. 31, Dec. 31,

2007 2006 2007 2006

Product revenue, net $124,919 $ 63,652 $371,736 $164,994

Combined cost of goods sold,

distributed, selling, general

and administrative expenses 81,998 49,226 223,682 123,004

Combined research and

development expenses 51,676 41,076 157,383 161,180

Combined collaboration loss $ 8,755 $ 26,650 $ 9,329 $119,190

Onyx's share of collaboration

loss $ 4,377 $ 13,325 $ 4,665 $ 59,595

Reimbursement of Onyx's direct

development and marketing

expenses 8,783 9,557 37,201 35,680

Onyx net expense due to (from)

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

CONDENSED BALANCE SHEETS

(In thousands)

Dec. 31, Dec. 31,

2007 2006

(unaudited) (2)

Assets

Cash, cash equivalents and marketable

securities $ 469,650 $ 266,958

Other current assets 11,006 12,940

Total current assets 480,656 279,898

Property and equipment, net 3,146 1,478

Other assets 281 4,870

Total assets $ 484,083 $ 286,246

Liabilities and stockholders' equity

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Onyx Pharmaceuticals Reports Fourth Quarter and Twelve-Month 2007 Financi...() TO UNCONSOLIDATED JOINT BUSINESS ...),Health