Onyx Announces Proposed Public Offering of Common Stock
June 18 2007 - 8:00AM
PR Newswire (US)
EMERYVILLE, Calif., June 18 /PRNewswire-FirstCall/ -- Onyx
Pharmaceuticals, Inc. (NASDAQ:ONXX) today announced that it plans
to offer, subject to market and other conditions, 6,000,000 shares
of its common stock pursuant to an automatically effective shelf
registration statement on file with the Securities and Exchange
Commission. The company also expects to grant to the underwriters
an overallotment option to purchase up to an additional 900,000
shares of common stock in connection with the common stock
offering. All of the shares are being offered by Onyx
Pharmaceuticals. Morgan Stanley & Co. Incorporated and Merrill
Lynch & Co. are acting as joint book running managers. Morgan
Stanley & Co. Incorporated, Merrill Lynch & Co., J.P.
Morgan Securities Inc. and Banc of America Securities LLC are
acting as the underwriters. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction. Copies of the preliminary prospectus supplement
relating to the offering may be obtained from Morgan Stanley &
Co. Incorporated (180 Varick Street, New York, NY 10014 Attn:
Prospectus Department or by email at ), Merrill Lynch & Co.
(Attn: Prospectus Department, 4 World Financial Center, New York,
New York 10080) or from Onyx Pharmaceuticals, Inc. (2100 Powell
Street, Emeryville, CA 94608, fax 510-597-6600). About Onyx
Pharmaceuticals, Inc. Onyx Pharmaceuticals, Inc. is a
biopharmaceutical company developing innovative therapies that
target the molecular mechanisms that cause cancer. The company is
developing Nexavar(R), a small molecule drug, with Bayer HealthCare
Pharmaceuticals Inc. Nexavar is approved for the treatment of
advanced kidney cancer in more than 50 countries. Nexavar(R)
(sorafenib) tablets is a registered trademark of Bayer HealthCare
Pharmaceuticals Inc. Forward Looking Statements This news release
contains "forward-looking statements" of Onyx within the meaning of
the federal securities laws. These forward-looking statements
include without limitation, statements regarding expectations as to
completion, timing and size of any public offering. These
statements are subject to risks and uncertainties that could cause
actual results and events to differ materially from those
anticipated. Reference should be made to Onyx's Annual Report on
Form 10-K for the year ended December 31, 2006, filed with the
Securities and Exchange Commission under the heading "Risk Factors"
for a more detailed description of such factors, as well as the
Company's subsequent quarterly report on Form 10-Q. Readers are
cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date of this release. Onyx
undertakes no obligation to update publicly any forward-looking
statements to reflect new information, events, or circumstances
after the date of this release except as required by law.
DATASOURCE: Onyx Pharmaceuticals, Inc. CONTACT: Greg Schafer, Chief
Financial Officer, +1-510-597-6684, Julie Wood, Vice President,
Investor Relations, +1-510-597-6505, both of Onyx Pharmaceuticals,
Inc. Web site: http://www.onyx-pharm.com/
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