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ONYX Pharmaceuticals, Inc. Message Board

  • onyxnewbie onyxnewbie Jan 12, 2000 5:57 PM Flag

    just my thoughts on the state of ONXX

    While I realize that realistic101�s & onyxmole's
    obvious hatred for all that is Onyx is painfully obvious,
    these individuals have given pretty reliable info in
    the past. If we go back to some of their earlier
    posts about people and events at Onyx, they have been
    right on (but definitely not about stock prices). And
    unfortunately, I must say realistic101 is apparently on the mark
    again.

    Yes, David Kirn (VP Clinical Research) has given
    notice or will soon.
    Yes, Amy Waterhouse (regulatory
    affairs) has given notice.
    Yes, Clara Heise (Scientist,
    animal testing) has given notice.
    And while I can�t
    confirm the Marilyn Wortzman conjecture, I too have heard
    that Norman Hardman is being forced out (after less
    than one year on the job.)

    (Don�t believe me?
    Simply call the company and ask.)

    All of these
    leavings raise some serious questions. Such as, how does
    Onyx expect to begin Phase III trials without a VP of
    Clinical Research and the head of Regulatory affairs, let
    alone a COO. Am I the only one on this board that is
    concerned that there has been no news concerning the start
    of Phase III? Doesn�t Onyx now have the money to
    begin the trial through the deal with WLA? Doesn�t Onyx
    have FDA approval as the press release stated? So what
    is the problem? I would think Onyx would want to
    start these trials, oh I don�t know, maybe NOW. I
    realize there are many obstacles to beginning these
    trials, but it seems many of them have been cleared. And
    didn�t one press release state they would start last
    November. Is there some problem others would like to shed
    some light on? I know there were rumors of virus
    production problems on this message board a while back, are
    we now seeing the effects of these
    problems?

    I would also think that WLA can�t be too pleased
    with all these departures. Obviously, they partnered
    with Onyx to get 015, but that deal also included two
    new viruses. How can Onyx have any directional
    leadership to create these new viruses with all these people
    leaving? And more realistically, forget any new viruses,
    WLA probably wanted viruses that had already been in
    production (such as that RB virus, see press release Sept3,
    1998). But how can Onyx test these viruses when the head
    of animal testing is leaving? And why haven�t we
    heard anything about the RB virus?

    Hey, I am not
    an Onyx hater. I think the science that has been
    there has been top-notch. But I am concerned about
    these negative events. Where is Phase III? Where is
    that new RB virus? And why does it seem like half the
    company always has one foot out the door? And why does
    the company never inform investors of these
    events?

    Any answers out there?

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    • There are major conflicting forces at work on
      these issues. First off, I understand the hard feelings
      of going from the inside to the outside, 101, Mole,
      et al, so my reactions to your comments is aimed at
      the lack of influence these matters have on share
      value.
      Secondly, does everyone think that WLA is a bunch of
      idiots? They have excellent access to management at ONYX
      and are certainly aware of the larger issues of any
      danger to the clinical trials for ONYX-15. They don't
      appear to be too concerned at this point, I am certain
      that we will hear should their level of concern be
      raised.
      My point is simply that Onxy (assuming the success
      ofO-15) will probably prosper (and us along with it),
      these sorts of personality problems are not unusual,
      read some of the other boards (try Health
      South).
      Let's try to stick to matters that are likely to affect
      shareholder value, that is why we are here, isn't it?

    • As a relatively new ONXX investor, my investment
      is based principally upon two facts: (1) the
      company's lead product, 015, has shown positive clinical
      results in H&N cancer and (2) the company has forged a
      major partnership with a global pharma partner (WLA)
      which further endorses its potential commercial value.
      While by no means a formula for success, this is
      exactly what a fledgling biotech company must do to reach
      the next level of development. Skeptics and outright
      ONXX haters should tip their hats for such efforts.


      Nonetheless, if such negative comments are true (and the
      credibility of tone suggests they may be), it does not change
      the fact that, barring safety issues or poor
      efficacy, the continued development of 015 will bring
      significant value to ONXX shareholders from present price
      levels.

      Don't get me wrong - management is a
      critical component to this equation. And if true,
      I
      would suggest that shareholders find comfort knowing
      that ONXX has passed the 015 "baton" to WLA at the
      beginning of the Phase III lap. But there are recent
      examples of how key defections have only temporarily
      impacted the valuation of a company. I point specifically
      to the resignation of Coulter Pharmaceutiucls'
      (NASDAQ:CLTR) Chief Medical Officer, George Tidmarsh, who
      resigned in Nov. 99 in the wake of the Bexxar BLA delay.
      Quoting from the new report:

      "Some analysts said
      the timing of Tidmarsh's announcement was odd, given
      that the company is rushing to get the Bexxar
      application approved before a similar drug from rival
      Idec
      Pharmaceuticals Corp. Tidmarsh supervised the clinical trials
      upon which Coulter based its application. ``It's a bad
      sign,'' said Craig Parker, a Donaldson Lufkin & Jenrette
      biotechnology analyst.

      Granted, Tidmarsh didn't leave
      the company (transitioned to a business development
      role), but the story still crushed the stock price (at
      the time $14 per share). Now that the BLA is poised
      for resubmission (along with further supportive
      data), CLTR shares are trading in the high $20's again.


      As for 015 manufacturing issues, let's hope WLA has
      done sufficient due diligence to rule out the
      possibility of product supply or QA control becoming a
      problem.

      Nonetheless, it would seem that these
      critizisms are overblown. But I must also admit that I truly
      enjoyed the sarcastic humor of 101.

      Q:
      Onyxnewbie, you suggested calling the company and "just ask"
      to confirm such possible departures. Based on this
      suggestion, I assume that you have already called the
      company. Who did you speak to? I don't know any other
      company that would divulge such confidential information.


      As for a press release stating when the phase III
      trial would start, I quote from the recent press
      release on the ONXX-WLA agreement:

      "Onyx and
      Warner-Lambert are preparing to initiate a pivotal Phase III
      clinical trial of ONYX-015 in the fourth quarter of 1999
      or early in 2000 that combines the virus with
      chemotherapy as a treatment for patients with recurrent head
      and neck cancer."

    • I have to correct one thing from my post yesterday: Amy Waterhouse is leaving, but not Marilyn Wortzman.

      I apologize for the mistake.

      • 1 Reply to realistic101
      • Onyxmole has been around for a while. Onyxfriend,
        Onyxnewbie and Onyxwaytoolong (such clever names) seem to be
        very recent arrivals. My last message: integrity
        should better read credibility or "motive". Do people
        really think they can influence a few small investors
        holding enough shares to get a significant amount of
        price movement by their postings? Get real. Especially
        with such a small play as Onyx. I'm gonna have to go
        look at the Lucent message board to see if there are
        any Lucentlong, Lucentmole, Lucentnewbie, etc.,
        posting there. Maybe we CAN make a difference, eh?

    • Let me pose this question: Why are there several
      inviduals posting to this board who use the name onyx in
      their name? Do these same people post elsewhere with
      the "onyx" monniker? If so, it would seem silly. It
      suggests to me that they have selected to post under these
      pseudonyms on this board for a reason, and I for one, will
      question their integrity. Make your own decisions about
      Onyx as an investment or trading play. -AC (or
      AOnyxPhobiaCat as far as this board is concerned)

      • 1 Reply to AphobiaCat
      • the ONXX bulls pick up the freag'n phone and call
        to ask whether these two individuals are
        leaving?????????????
        Doesn't this make sense?
        I think it is stupid to get
        angry at people for posting anti-ONXX news? Lets for
        ONE second assume that these two guys are telling the
        truth. Don't you think this is embarrassing for the
        company? Wouldn't you wanna know ahead of time so that you
        don't wake up in the morning and your stock is at 2
        dollars? I never understood why people get married to a
        stock!! The science might be great but a bad management
        team will kill you.
        Stop bitching at the people
        that give opposing views to your "beloved" company.
        You are not investors if you don't take into account
        the good and the bad in a company. You are just
        sheep, following what the big guys tell you. And I have
        a surprise for all of you:
        There are good things
        and bad things about EVERY comopany.
        On the other
        hand who knows, maybe the departure of these two
        people is good for the company.

 
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