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

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"2009 was a transformational year for Onyx as we continued to grow Nexavar sales, increased cash flow from operations, augmented our cash reserves, delivered promising clinical data in breast cancer, and created a broad and balanced portfolio of compelling compounds," said N. Anthony Coles, M.D., president and chief executive officer of Onyx.  "As a result, Onyx has successfully established its position as an emerging oncology leader.  With a 24% increase in annual Nexavar sales and growing commercial margins, it is this outstanding performance that has enabled us to invest in our future with an expanding number of pipeline products to improve the lives of patients and create additional value for shareholders."

Onyx reported GAAP net income of $16.2 million, or $0.27 per diluted share, for the full year 2009 compared with net income of $1.9 million, or $0.03 per diluted share, for the same period in 2008.  For the fourth quarter 2009 Onyx reported a GAAP net loss of $5.5 million, or $0.09 per diluted share, compared to a net loss of $30.2 million, or $0.53 per diluted share, in the same period in 2008.  Onyx reported non-GAAP net income of $54.4 million, or <
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SOURCE Onyx Pharmaceuticals, Inc.
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