Onyx Jumps on Trial Data - TheStreet

Onyx Jumps on Trial Data

The stock is soaring nearly 60%.
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Onyx Pharmaceuticals (ONXX) surged nearly 60% early Monday after the company said a trial of the liver cancer drug Nexavar met its primary endpoint.

The company is working on the drug with Germany's

Bayer

(BAY)

.

An independent data-monitoring committee reviewed the safety and efficacy data from the companies' phase III trial in patients with advanced primary liver cancer. On the basis of an interim analysis, the committee concluded that the trial met its main goal of Nexavar demonstrating superior overall survival compared with a placebo.

The committee recommended that the trial be stopped early, and the companies agreed, giving access to Nexavar to all patients in the study.

Shares of Onyx were lately soaring $7.34 to $19.60.