Do any of you remember ONXX? I bought it a few years ago when Jim Jubak recommended it following an early December collapse. When I saw his article, it was late December and ONXX had fallen a lot MORE, so I bought some at about $9/share. A few weeks later, February 2007, it came out with very positive test results that caused a clincal trial for its cancer drug to be halted early (so the drug could be put into immediate production.) The stock opened the next day at $24 and I sold a day or two later.
ONXX proceeded to top $60 before the year was up, leaving me a bit ill but hard pressed to complain. I made money and I made it fast, after all. That's all I hope to do with trading shares.
ONXX came back down to earth, and I could actually have repurchased my shares last July for less than I sold them for, but I didn't. It then began climbing again and today, despite the tough news reported below, it is $42.61/share.
May 19, 2011, 11:19 a.m. EDT
Onyx leads declines in biotech stocks
By Val Brickates Kennedy, MarketWatch
BOSTON (MarketWatch) — Onyx Pharmaceuticals Inc. was the top decliner among larger-cap biotech stocks Thursday morning, as most drug stocks drifted south.
The NYSE Arca Pharmaceutical Index dipped marginally to 336, and the NYSE Arca Biotechnology Index eased 0.5% to stand at 1,481.
Shares of Onyx dropped 6%. Early Thursday, the company reported Phase IIb clinical results for its cancer drug Nexavar in the treatment of advanced breast cancer. The drug is already approved to treat kidney and liver cancers.
Full article: http://www.marketwatch.com/story/onyx-leads-declines-in-biotech-stocks-2011-05-19
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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