Onyx falls on updated take-out rumors
Shares of Onyx Pharmaceuticals Inc. (NASDAQ:ONXX) fell $8.86 to $115.37 on Thursday after Bloomberg reported that talks for the cancer company's rumored acquisition by Amgen Inc. (NASDAQ:AMGN) were held up over a dispute on data from an ongoing trial. According to Bloomberg, Onyx is prepared to accept a $130 per share offer, but Amgen wants to see data from an ongoing trial designed to support European approval of multiple myeloma drug Kyprolis carfilzomib. Onyx and Amgen declined to comment. Amgen was off $0.88 to $105.76 on Thursday.
Onyx said it plans to submit an MAA to EMA for Kyprolis in 2H14 pending data from the Phase III ASPIRE and FOCUS trials, which are expected in 1H14. FDA granted accelerated approval for Kyprolis last year (see BioCentury, July 20, 2012). ...