Jefferies Said Onyx Pharmaceuticals (ONXX) ASCO Data Confirm Concerns On Carf Regulatory Outlook

Jefferies commented on Onyx Pharmaceuticals (NASDAQ: ONXX) after this weekend's ASCO presentation.

The firm notes "Carfilzomib 003-A1 subgroup data presented at ASCO show a 15% ORR with a 10% lower boundary for the critical Vel-Rev dual refractory subset (v the previous abstract’s better-than-expected 21% ORR in dual refractory/intolerant subgrp disclosed May 16), confirming our concerns around its regulatory outlook. We continue to assume a late 2013 launch for carfilzomib with a potential CRL by its Jul 27 PDUFA."

The firm maintained a Hold rating and price target of $45.00

For an analyst ratings summary and ratings history on Onyx Pharmaceuticals click here. For more ratings news on Onyx Pharmaceuticals click here.

Shares of Onyx Pharmaceuticals closed at $44.93 yesterday.

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