What strikes me about this chart is that it illustrates the distrust and apprehension many investors had about Kyprolis, even after successful clinical trials. It really took until the positive FDA advisory panel meeting in June 2012 -- two and half years after the Proteolix deal was announced -- for Wall Street to give Coles and Onyx the credit they deserved. If anyone deserves an "I told you so" moment, it's Coles! Here's the same story, told in the relative stock prices of Onyx and the Nasdaq Biotechnology Index. Again, Onyx doesn't start to outperform its peers until Kyprolis' won a recommendation for approval from an FDA advisory panel in June 2012. ONXX data by YCharts
I remember when Coles was appointed Onyx's CEO in February 2008, replacing Hollings Renton. His selection was not universally applauded. Prior to joining Onyx, Coles had successfully restructured NPS Pharmaceuticals ( NPSP) as CEO, but investors gave him and the company little credit for the effort.