Onyx Pharma (NASDAQ: ONXX) Reports EPS of $(0.23) vs. $(0.13) Estimate; Revenues $67.15M vs. $70.36M Estimate

Onyx Pharmaceuticals ONXX today reported its financial results for the first quarter 2011. Onyx reported a non-GAAP net loss of $14.2 million, or $0.23 per diluted share, for the first quarter 2011 compared to a non-GAAP net loss of $1.5 million, or $0.02 per diluted share, for the same period in 2010. Non-GAAP net loss excludes, among other items, adjustments to contingent consideration expense in connection with Onyx's acquisition of Proteolix Inc., or Proteolix; employee stock-based compensation expense; non-cash imputed interest expense related to the application of Accounting Standards Codification ("ASC") 470-20 and charges associated with the restructuring of Onyx's development, collaboration, option and license agreement with S*BIO Pte Ltd., or S*BIO.