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Onyx Pharmaceuticals Reports Third Quarter 2011 Financial Results
Date:11/2/2011

nine months ended September 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 EndedNine Months EndedSeptember 30, September 30, 2011201020112010Nexavar product revenue, net (as recorded by Bayer)

$ 250,340$ 226,181$ 731,472$ 676,665Nexavar revenue subject to profit sharing (as recorded by Bayer)

$ 208,683$ 191,553$ 608,453$ 580,399Combined cost of goods sold, distribution, selling, general and administrative expenses

77,23478,464240,774237,184Combined collaboration commercial profit

$ 131,449$ 113,089$ 367,679$ 343,215Onyx's share of collaboration commercial profit

$   65,725$   56,545$ 183,840$ 171,607Reimbursement of Onyx's shared marketing expenses

6,4004,72717,69117,026Royalty revenue

2,9162,4248,6116,739Revenue from collaboration agreement

$   75,041$   63,696$ 210,142$ 195,372ONYX PHARMACEUTICALS, INC.RECONCILIATION OF GAAP TO NON-GAAP NET INCOME (LOSS)(In thousands, except per share amounts)(unaudited)Three Months EndedNine Months EndedSeptember 30, September 30, 2011201020112010GAAP net (loss) / income$(36,860)$41,500$(140,565)$(67,726)Non-GAAP adjustments:Contingent consideration5,9455,62223,195101,107Employee stock-based compensation8,6735,87422,37316,592Imputed interest related to the convertible senior notes due 20162,6432,2927,5876,671Advance funding to S*BIO--12,666-Impairment of equity investment in S*BIO--3,000-Lease termination exit costs130-10,857-Non-GAAP net (loss) / income (5)$(19,469)$55,288$  (60,887)$  56,644Computation of non-GAAP diluted net (loss) / incomeNon-GAAP net (loss) / income (5)$(19,469)$55,288$  (60,887)$  56,644Add:Interest and issuance costs related to dilutive convertible senior notes (6)-2,532--Non-GAAP net (loss) / income - diluted (5)$(19,469)$57,820$  (60,887)$  56,644Comput
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SOURCE Onyx Pharmaceuticals, Inc.
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