Onyx Pharmaceuticals, Inc. (ONXX) Doubles On Positive Nexavar News
2/12/2007 2:06:27 PM
February 12, 2007 -- Onyx and Bayer announced positive results for cancer drug Nexavar (sorafenib) in patients with liver cancer. The drug was so successful that the Phase III trial was stopped early, on the advice of the data safety monitoring committee, and Nexavar was given to all participants. Specific data were not released, but the full results are expected at ASCO in June. Nexavar was approved in late 2005 for kidney cancer, and it has solid, though not spectacular sales. The news had a very positive effect on the shares of Onyx, which rose over 90%. We look at a history of the drug and its maker, Onyx...