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

ecognized by Bayer and higher royalty revenue, partially offset by an increase in commercial expenses related to Nexavar.

Operating Expenses

Onyx recorded research and development expenses of $128.5 million for the full year 2009 and $36.0 million for the fourth quarter 2009, compared to $123.7 million and $59.9 million for the same periods in 2008.  Research and development expenses for the full year 2009 increased compared to 2008 primarily due to increases in the development program for Nexavar across additional tumor types, such as thyroid, breast, colorectal and adjuvant liver cancer; expenses related to the development of carfilzomib following the acquisition of Proteolix; and Onyx's costs to further develop ONX 0801, including a milestone payment of $7.0 million to BTG International Limited (BTG).  In 2008, research and development expenses included payments totaling $33.8 million made to S*BIO Pte Ltd (S*BIO) under a development collaboration, option and license agreement and to BTG under a development and license agreement.

Onyx recorded selling, general and administrative expenses of $101.1
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SOURCE Onyx Pharmaceuticals, Inc.
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