Onyx 2nd quarter loss narrows on cancer drug sales
Aug 8 (Reuters) - Onyx Pharmaceuticals Inc, which is seeking a buyer after rejecting a takeover bid by Amgen Inc as too low, on Thursday reported a narrower second-quarter loss on revenue from its new blood cancer drug Kyprolis.
The biotechnology company said it had a net loss of $53.2 million, or 73 cents per share, compared with a loss of $106 million, or $1.65 per share, a year ago.
Excluding one-time items, Onyx lost 40 cents per share. Analysts on average expected a loss of 42 cents per share, according to Thomson Reuters I/B/E/S.
Revenue for the quarter more than doubled to $153 million, edging past Wall Street estimates of $151.7 million.