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Onyx Pharmaceuticals Reports Second Quarter 2011 Financial Results
Date:8/3/2011

e termination exit costs

10,727-10,727-Total operating expenses

117,763161,935226,222233,679Loss from operations

(49,807)(93,162)(91,121)(102,003)Investment income

6457801,2931,569Interest expense

(5,041)(4,800)(10,042)(9,525)Other expense (3)

(340)-(3,801)-Loss before provision (benefit) for income taxes

(54,543)(97,182)(103,671)(109,959)Provision (benefit) for income taxes

--32(732)Net loss

$   (54,543)$   (97,182)$ (103,703)$ (109,227)Net loss per share:Basic

$
(0.86)$
(1.55)$
(1.64)$
(1.75)Diluted (4)$
(0.86)$
(1.55)$
(1.64)$
(1.75)Computation of diluted shares:Basic

63,41562,62763,21262,491Dilutive effect of options

----Diluted (4)63,41562,62763,21262,491(1)Includes employee stock-based compensation charges of:Research and development

$
,893$
,104$
2,819$
2,016Selling, general, and administrative

6,4514,67210,8808,702Total employee stock-based compensation

$
8,344$
5,776$
3,699$
,718(2)
Includes a $12.7 million non-cash expense related to the unamortized balance of funding provided to S*BIO which was recorded in the first quarter of 2011.

(3) Includes a $3.0 million impairment charge which reflects the reassessment of the fair value of Onyx's equity investment in S*BIO during the first quarter of 2011.

(4) Under the "if-converted" method, interest and issuance costs and potential common shares related to the Company's convertible senior notes were excluded in the computation of diluted per share amounts for the three and six months ended June 30, 2011 and 2010 because their effect would be anti-dilutive.

ONYX PHARMACEUTICALS, INC.CALCULATION OF REVENUE FROM COLLABORATION AGREEMENT(In thousands, unaudited)Three Months EndedSix Months EndedJune 30, June 30, 2011201020112010Nexavar product revenue,
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SOURCE Onyx Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
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