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Onyx Pharmaceuticals Reports Record Full Year and Fourth Quarter 2009 Financial Results
Date:2/23/2010

isolation of, or an as alternative to, measurements required by GAAP. These non-GAAP financial measures exclude the following items from GAAP net income (loss) and diluted net income (loss) per share: Employee stock-based compensation: The effects of employee stock-based compensation are excluded because of varying available valuation methodologies, subjective assumptions and the variety of award types; such exclusion facilitates comparisons of Onyx's operating results to peer companies. Imputed interest related to the convertible senior notes due 2016: The effects of imputed interest related to the convertible senior notes due 2016 are excluded because this expense is non-cash; such exclusion facilitates comparisons of Onyx's cash operating results to peer companies. Upfront and milestone payments and transaction costs: The effects of milestone payments and transaction costs are excluded as they do not relate to the normal and recurring transactions of our business; such exclusions allow for a better representation of the ongoing economics of the business, facilitate comparison to peer companies and are reflective of how Onyx manages the business. Contingent consideration expense: The effects of contingent consideration expense are excluded due to the nature of this charge, which is related to the change in fair value of the liability for contingent consideration in connection with the acquisition of Proteolix; such exclusion facilitates comparisons of Onyx's operating results to peer companies. (6) Under the "if-converted" method, interest and issuance costs and potential common shares related to the Company's convertible
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SOURCE Onyx Pharmaceuticals, Inc.
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