Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Biotech Onyx Pharmaceuticals
So what: Based on the strong phase II data, in which about one-third of patients responded to the drug for more than eight months, Onyx might be able to market its treatment much earlier than expected. Being able to access the $16 billion hematologic cancer market would obviously be a big deal for the relatively small Onyx, so it's no surprise that investors are loudly applauding the news.
Now what: Onyx's growth prospects are certainly worth looking into. While it will have to butt heads with the likes of Celgene
Interested in more info on Onyx? Add it to your watchlist.