At this point the most ONXX could fetch is $95. We're 1-2 years away from $122. But listening to Bayer & ONXX CC one would not get impresion that any kind of talks are going on...Unfortunately... Now seems ONXX will trade in the range $70-$78 until some news will move it out of the range. I'm holding- even if it get to $95 in a year it is 33% from the current price. Not bad...
"Nexavar treatment for liver cancer, which is made jointly by Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) and Bayer A.G. (BAYZF.PK), was used in combination with Tarceva, but the pairing failed to improve survival rates compared with Nexavar on its own in a Phase III trial. Tarceva, which is already used for lung cancer, is marketed by the Astellas Pharma and Roche division Genentech. However, Jefferies still calculates an acquisition valuation for Onyx at $122 per share."
This should get attention. Agree the risks have been mitigated however there always is a level of residual risk.
"Onyx Pharmaceuticals Inc. (NASDAQ:ONXX) wins an approval by Kyprolis, which Deutsche Bank says ‘de-risks the Onyx story’ and further, DB thinks that it could be a $3 billion product. The firm also calculates Onyx’ merger and acquisition value at $122. Shares are rated at Deutsche Bank at Buy."