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Onyx Pharmaceuticals Spike Higher on Takeoever Rumors (ONXX)

UPDATE: Gilead not commenting on rumored interest in Onyx

UPDATE: Amgen, Pfizer, Bristol-Myers Squibb, Gilead might bid for Onyx–Sources

UPDATE: Onyx declining comment on the rumor.

Shares of Onyx Pharmaceuticals (NASDAQ: ONXX) spiked higher at 12:00 p.m. on apparent rumors that as many as five companies are interested in acquiring the company. Onyx Pharmaceuticals is a $9.7 billion company that is best known for its drug, Nexavar for the treatment of liver cancer. It’s other notable drug, Kyprolis is indicated for the treatment of multiple myeloma.

We will update this story as more information becomes available.

[stock-tools exchange="NASDAQ" symbol="ONXX" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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