Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX), known for its liver cancer drug Nexavar, jumped more than 13% on Monday, after Bloomberg reported the company was exploring options, including a possible sale.
Potential buyers are studying Onyx’s business and its experimental carfilzomib cancer therapy. Onyx, based in South San Francisco, California, had a market value of about $2.4 billion as of Nov. 25 and is working with Centerview Partners LLP to review alternatives, said the people.
Onyx gave itself more strategic options last month when it settled a lawsuit with Bayer AG (BAYN) over the experimental cancer medicine regorafenib and amended its collaboration agreement for Nexavar.
The company closed at $42.80 after surging 13.59% in Monday’s trading session.
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