Onyx Pharma: Kyprolis Is Still A Smokin' Hot Multiple Myeloma Drug
"Kyprolis, however, is our top priority because it has the greatest probability of success. So, investing in Kyprolis is appropriate for the potential to move it into earlier lines of therapy. That will remain our spending priority. But if we find the right opportunity [to acquire a new drug candidate] we will execute. What I can promise you is that we'll try not to do a bad deal."
In 2013, Onyx expects to start a phase III study of carfilzomib in newly diagnosed multiple myeloma patients, Coles added.
On being a perennial speculative takeover candidate:
"The only answer I can give is that we have a great business, it's gone very well for us so we don't have to transact or do anything else. We have created enormous value for shareholders and patients, so there is no real reason to do anything at all. Obviously, if someone comes around, we would consider a serious offer because that's our fiduciary responsibility. But I like the prospects for our business and they're only getting brighter in the months ahead."-- Reported by Adam Feuerstein in San Francisco. Follow Adam Feuerstein on Twitter.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV