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Onyx Pharmaceuticals Reports Third Quarter and Nine-Month 2008 Financial Results

) 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-going basis and

internally for operating, budgeting and financial planning purposes. Our

management excludes the effects of employee stock-based compensation

because of varying available valuation methodologies, subjective

assumptions and the variety of award types; such exclusion facilitates

comparisons of our operating results to our peer companies. Our management

believes the non-GAAP information is useful for investors by offering them

the ability to better identify trends in our business and better

understand how management evaluates our business.

These non-GAAP measures have limitations, however, because they do not

include all items of income and expense that affect Onyx. The non-GAAP

financial measures we use are not prepared in accordance with, and should

not be considered in isolation of, or as an alternative to, measurements

required by GAAP.

SOURCE Onyx Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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