NEW YORK (AVAFIN) -- Financial institutions traded 89 block trades on shares of Onyx Pharmaceuticals. Further analysis
into the trading activity revealed that 3,006,025 shares were bought and
2,812,131 shares were sold. The bought/sold ratio for shares of ONXX is 1.07,
representing a positive net cash flow of $10,723,114 into the stock.
Options traders were busy as well, a total of 18,973 call and 29,100 put contracts were traded
yesterday yielding a 1.53 put/call ratio.
In addition to rapid overseas expansion, Nexavar is being tested in more prevalent tumor types, including thyroid and breast cancer, thus heightening its potential to achieve blockbuster status.
Additionaly, Onyx is capitalizing on its status having the first FDA-approved therapy for liver cancer, which is the third-leading cause of death from cancer. With no clear competitors, Onyx has first-mover advantage in reaching patients with this difficult-to-treat disease.
Onyx Pharmaceuticals develops and markets novel therapies that target molecular mechanisms that cause cancer. The company's first commercially available product, Nexavar, is partnered with Bayer and approved for advanced kidney cancer and liver cancer. Nexavar is also being studied in other indications, including lung, breast, thyroid, and colorectal cancer. To bolster its one-drug pipeline, Onyx has in-licensed and acquired additional oncology candidates.
The trading volume of 22M is above the 90 day average volume of 1M shares.
Shares of Onyx Pharmaceuticals edged up $19.20 (+43.07%) to $63.78. The price of the stock ranged
between a low of $60.00 and $64.68 respectively.
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