Merrill neutral on Onyx

Onyx Pharmaceuticals, Inc. was rated by Merrill Lynch analyst Eric Ende at neutral after the company reported third-quarter U.S. Nexavar sales of $28 million, down 12% sequentially. Competitor Sutent has continued to grow sequentially, suggesting Sutent is becoming the standard of care, according to Ende. The next event for Onyx will be progression free survival data from a phase 3 trial of Nexavar in melanoma, expected around the first quarter of 2007. Shares of the Emeryville, Calif.-based biopharmaceutical company were up 75 cents, or 3.98%, at $19.60. (Nasdaq: ONXX)

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