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Todays Most Active Stock - (NASDAQ:ONXX) - Online Stock Alert
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Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) is higher by 4.10% to $28.01 huge volume of 1.90 million share after Onyx Pharmaceuticals announced that it has signed a definitive agreement to acquire Proteolix, Inc., a privately held biopharmaceutical company focused on discovering and developing novel therapies that target the proteasome for the treatment of hematological malignancies and solid tumors. Under the terms of the transaction, Onyx will make a $276 million cash payment upon closing of the transaction. Additional payments include $40 million payable in 2010 based on the achievement of a development and up to $535 million contingent upon the achievement of certain regulatory approvals for carfilzomib in the U.S. and Europe.
Onyx Pharmaceuticals, Inc. (Onyx) is a biopharmaceutical company engaged in developing therapies that target the molecular mechanisms that cause cancer. With the Company’s collaborators, the Company is developing anticancer therapies. The Company’s product, Nexavar (sorafenib) tablets, being developed with the Company’s collaborator Bayer HealthCare Pharmaceuticals (Bayer), is approved by the United States Food and Drug Administration (FDA), for advanced kidney cancer and liver cancer. Nexavar is an orally available kinase and angiogenesis inhibitor and is one of a new class of anticancer treatments that target both cancer cell proliferation and tumor growth through the inhibition of key signaling pathways.
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