By Ronda Fears
Nashville, Nov. 18 - Onyx Pharmaceuticals Inc. priced a follow-on offering of 5 million shares of common stock off the shelf at $25.25 per share, discounted from Thursday's closing level of $25.38, via joint bookrunners Morgan Stanley & Co. Inc. and Merrill Lynch & Co.
Proceeds are earmarked to fund clinical trials and other research and development, for general corporate purposes, including working capital, and for sales and marketing activities in anticipation of the commercial launch of Nexavar in collaboration with Bayer Pharmaceuticals Corp.
Emeryville, Calif.-based Onyx develops therapies that target the molecular mechanisms that cause cancer.
| Issuer: | Onyx Pharmaceuticals Inc.
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| Issue: | Follow-on stock offering
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| Gross proceeds: | $126.25 million
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| Shares: | 5 million shares
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| Greenshoe: | 750,000 shares
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| Price: | $25.25 per share
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| Bookrunners: | Morgan Stanley & Co. Inc. and Merrill Lynch & Co.
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Ticker: | ONXX
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| Stock price: | $25.38 at close Nov. 17
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