Onyx Pharmaceuticals swings to 1Q profit on cancer drug

By Associated Press May 6, 2008 Comments (0)

0 Recommendations

Onyx Pharmaceuticals Inc. said Tuesday it swung to a first-quarter profit on a surge in revenue from the liver cancer drug Nexavar.

The company earned $15.4 million, or 27 cents per share, compared with a loss of $12.2 million, or 26 cents per share, during the same period a year prior. Revenue jumped to $37.7 million from $3 million.

Analysts polled by Thomson Financial expected a loss of 6 cents per share on revenue of $11.7 million.

The revenue boost came from a payment from the company's Nexavar partner Bayer. Nexavar had worldwide sales of $151.9 million in the first quarter.

Shares of Onyx Pharmaceuticals rose 33 cents to close at $37.94.

Comments (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Compare Brokers

DocumentId: 638795, ~/articles/articlehandler.aspx, 7/24/2008 3:16:19 PM,

Sign up for FREE Motley Fool site access!

Already registered? Login Here

It’s FREE! Enter your email address, and we’ll rush you to the article you're looking for right now.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement