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Health and Healthcare

Onyx Pharma Shares Halted Before FDA Approval

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By Paul Ausick Published
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Shares of Onyx Pharmaceuticals Inc. (NASDAQ: ONXX) were halted for about half an hour this morning pending an announcement from the company. Shares were up 5.2% when trading in the stock was stopped.

At noon, the US FDA announced that the company’s Kyprolis drug had been approved for treatment of some patients with multiple myeloma, a type of cancer. The FDA said that the drug was approved under the agency’s accelerated approval program.

The FDA press release is available here.

Trading in Onyx shares has not re-opened yet.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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