Merrill Lynch maintains Onyx at neutral

Onyx Pharmaceuticals, Inc. was maintained at a neutral rating by Merrill Lynch analyst Eric Ende after a data on Nexavar indicated 39% survival improvement for renal cell carcinoma, but was not statistically significant for the interim analysis, which could put Nexavar at a commercial disadvantage, Merrill Lynch said, adding that approvals still are expected in January 2006. Third-quarter loss per share was lower than anticipated, but spending on Nexavar's launch is likely to be higher than anticipated. Shares of the Emeryville, Calif.-based biopharmaceutical company were up $0.63, or 2.13% at $30.14 on volume of 1,724,745 shares versus the three-month running average of 848,474 shares.

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