was losing nearly 4% after the biopharmaceutical company said it plans to sell 5 million shares using a registration statement previously filed with the
Securities and Exchange Commission
The Emeryville, Calif., company is also granting the underwriters an option to purchase up to 750,000 added common shares. All of the shares will be sold by Onyx.
Morgan Stanley and Merrill Lynch are managing the offering.
Shares of Onyx were down $1.06 at $26.57 Monday.