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: Shares of cancer-busting biotech Onyx Pharmaceuticals
So what: In the early morning hours, Onyx partner Bayer HealthCare Pharmaceuticals announced phase 3 trial results for colorectal treatment regorafenib. The study showed a statistically significant increase in survival rates when compared with placebo, and Bayer hopes to market the Onyx-developed drug worldwide under a royalty agreement.
Now what: Anything that puts a dent in cancer deaths is likely to become a serious blockbuster, inviting both speculators and well-informed investors to make big bucks. Onyx is actually pretty unlike anyone else in its field by not sporting a volatility-tracking beta value in nosebleed territory. Investing in fellow cancer-drug specialists Oncolytics Biotech
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