Biotech Notebook: Onyx, Genentech, Cardiome

Onyx Pharmaceuticals(ONXX Quote) CEO Hollings Renton was a hero to biotech investors in 2007. As much as it pains me to say it, this year he's been a zero.

I love the guy, but perhaps it's time for Renton to take that previously announced stroll into retirement. I'm disappointed, but not upset, about the failure of the Nexavar lung cancer study. Stuff happens, especially in biotech. That's not Renton's fault.

But I do hold him responsible for Onyx's terrible quarterly conference call Tuesday, in which the company told investors that spending -- already high -- is being ratcheted up even further. As a result, the company is unable to forecast a full year of profitability in 2008. ...