Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) is surging on reports by Bloomberg that the company is exploring strategic alternatives, which would imply a potential merger or acquisition of or by the company. Shares are now up 13.5% at $42.85 on over 5-times normal trading volume of 5.8 million shares with more than one-hour until the close. Shares hit a new 52-week high of $46.07 today.
M&A Hope for Onyx? (ONXX)
By
Jon C. Ogg
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About the Author
Jon C. Ogg →
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
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