Onyx Pharmaceuticals (ONXX) reported third quarter earnings of 28 cents per share, well above the Zacks Consensus Estimate of 22 cents as well as 21 cents reported in the year-ago period. The company, along with Bayer AG (BAYRY.PK), developed Nexavar (sorafenib) tablets, an anticancer therapy currently approved and marketed for the treatment of liver cancer and advanced kidney cancer in the US, European Union, Japan and some other countries. Onyx’s earnings come in the form of royalty and collaboration income on Nexavar sales.  For the quarter, Onyx reported revenues of $69.1 million compared to $50.8 million for the same period in 2008 primarily due to an increase in Nexavar sales and royalty revenue and a decline in the drug’s commercial expenses. While revenues increased 36%, a 43.6% rise in operating expenses brought down Onyx’s operating margin by 450 basis points to 14.5%. R&D and SG&A expenses increased ...

In a positive development, Bayer (BAYRY.PK) released encouraging results from a phase II trial of regorafenib in patients with metastatic renal cell carcinoma (RCC), a type of kidney cancer. The phase II trial was carried out on 49 previously untreated patients whose tumors could not be removed surgically or had started spreading. The trial met its primary endpoint, which was to evaluate response rate according to the Response Evaluation Criteria in Solid Tumors (RECIST). It was observed that 31% of patients experienced a confirmed partial response (PR) whereas 50% of patients experienced stable disease (SD). In addition, the data showed an estimated median progression-free survival of 8.3 months. The data were presented in an oral session at the joint 15th Congress of the European CanCer Organisation and 34th Congress of the European Society for Medical Oncology (ECCO 15 - 34th ESMO) at ...

We maintain our Buy rating on Onyx (ONXX) shares with price target of $45.

Onyx delivered strong financial performance in 1Q09 and we expect the company will continue to deliver very good financials for 2009. Nexavar sales continued to grow in 1Q08, which was mainly attributed to the market penetration in liver cancer while market share has stabilized in kidney cancer market in spite of heavy competition. Total Nexavar sales came in at $178.1 million, up 17% year over year. This increase was mainly driven by international sales which reached $130 million, up 29% year over year.

EU and the US approved Nexavar for 1st line treatment of liver cancer in 4Q07. In Asia, South Korea and China have approved Nexavar for liver cancer. Other international filing is underway. We believe Nexavar sales will be further boosted in 2009 and beyond due to this new indication.

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MultiCell Technologies, Inc., an integrated biopharmaceutical company based in Rhode Island, announced today that it has entered into a cooperative research and development agreement with Maxim Biotech, Inc., a non-public Maryland-based medical research products company. The focus of the research will be the development of products for working with liver stem cells in the detection and treatment of liver cancer.

Although not one of the most common types of cancer in the U.S., liver cancer is still deadly. Nationwide there were over 21,000 new cases of primary liver cancer and intrahepatic bile duct cancer in 2008 according to the National Cancer Institute. Approximately 85% of those cases were fatal. Worldwide, liver cancer is more common due to the prevalence of hepatitis infection. Hepatocellular carcinoma, resulting from Hepatitis B and Hepatitis C, is the most common cancer in some parts of the world.

One of the problems in dealing with the disease

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