AMGN was trying to get ONXX for 120 even knowing nothing. How it will hesitate now?
The reason could be ONXX is asking more than 130/share.
So eventually, ONXX will be sold for over 130. Patience works out.
Onyx announced that FOCUS readout will be available in 1half of next year. ASPIRE too in 1st half of next year. Anyways European approval based on second line and later will depend on ASPIRE and not FOCUS. Just that FOCUS interim analysis was a bit of a surprize for everybody.
Read comments from ISI on CNBC. Amgen CEO is an investment banker,trying to negotiate price.Onyx won't close the trials prematurely for Amgen to see the interim results.
The results in USA were good and FDA approved it.Now Onyx is doing 2 sets of trials.Aspire is similar to US trials,but Focus trials are different and ISI is not bothered about it.
The reason ONXX does not want access the trial data is because it will affect the final approval by FDA. My question was how did AMGN offered 120/share without looking at anything at all? That's where the value is. ONXX should value at least 120/share. See how it is selling at 115?