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

0;million in the full year 2009 and $32.2 million in the fourth quarter 2009, compared to $81.0 million and $22.0 million for the same periods in 2008.  Higher selling, general and administrative expenses were primarily due to headcount-related expenses to support Onyx's growth and to legal and acquisition-related costs.

Onyx recorded $1.5 million of non-cash expense in the fourth quarter of 2009 associated with the increase in the fair value of the liability for contingent consideration related to the acquisition of Proteolix.

Investment Income

For the full year and fourth quarter 2009, investment income was $4.0 million and $0.9 million, respectively, compared to $12.7 million and $2.0 million for the same periods in 2008.  The decrease was primarily due to lower effective interest rates as a result of market conditions, as well as a change in the asset allocation of Onyx's investment portfolio.


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SOURCE Onyx Pharmaceuticals, Inc.
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