I bought Onyx four or five years ago based on Jim Jubak's noting that the stock had been one of the month's biggest losers for an UNSOUND reason. I paid $9 in December and sold it for $25 in February after it posted outstanding cancer drug results. Onyx subsequently rocketed to $60, leaving me feeling like an idiot for selling until, half a year later, Onyx fell back to my sell price and enabled me to regain some of my pride.
Then it slowly climbed again. And today, this:
Onyx Pharmaceuticals Said to Weigh Sale
By Sasha Damouni and Jeffrey McCracken
Bloomberg.com
Nov 28, 2011 2:36 PM ET
Onyx Pharmaceuticals Inc. (ONXX), the developer of the kidney-cancer treatment Nexavar, is exploring options, including a possible sale, said two people with knowledge of the matter. The stock jumped as much as 22 percent.
Potential buyers are studying Onyx’s business and its carfilzomib cancer therapy, said one of the people who declined to be identified as the discussions are private. Onyx, based in South San Francisco, had a market value of about $2.4 billion as of Nov. 25 and is working with Centerview Partners LLP to review alternatives, said the people.
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Onyx was formed in 1992 by Frank McCormick, spun out after the combination of pharmaceutical companies Cetus Corp. and Chiron Corp., according to the company’s website. More than a dozen years later, its drug Nexavar won approval for treatment of patients with an advanced kidney cancer.
Full story: http://www.bloomberg.com/news/2011-11-28/onyx-pharmaceuticals-said-to-weigh-sale-as-it-explores-strategic-options.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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