ONYX Pharmaceuticals 8-K Results of Operations and Financial Condition

Exhibit 99.1

ONYX PHARMACEUTICALS, INC.
2008 First, Second and Third Quarter Statement of Operations and Supplemental Schedule (Unaudited)

	2008 Quarter Ended
	September 30		September 30		June 30			June 30			March 31		March 31
	As Revised		As Previously Reported		As Revised			As Previously Reported			As Revised		As Previously Reported
	(In thousands, except per share data)
Statement of Operations
Revenue:
Revenue from collaboration agreement	$	50,766	$	—	$	45,072		$	—		$	48,855	$	—
Net revenue from unconsolidated joint business		—		39,924		—			30,199			—		37,738
Operating expenses:
Research and development expenses		21,792		10,950		23,498			8,625			18,555		7,438
Selling, general and administrative expenses		19,319		19,319		19,822			19,822			19,844		19,844
Income (loss) from operations		9,655		9,655		1,752			1,752			10,456		10,456
Investment income, net		2,763		2,763		2,662			2,662			5,271		5,271
Provision (benefit) for income taxes		175		175		(60	)		(60	)		309		309
Net income (loss)	$	12,243	$	12,243	$	4,474		$	4,474		$	15,418	$	15,418
Basic net income (loss) per share	$	0.22	$	0.22	$	0.08		$	0.08		$	0.28	$	0.28
Diluted net income (loss) per share	$	0.21	$	0.21	$	0.08		$	0.08		$	0.27	$	0.27
Supplemental Schedule As Revised
Nexavar product revenue, net (as recorded by Bayer)	$	180,887	$	—	$	168,520		$	—		$	151,896	$	—
Revenue subject to profit sharing (as recorded by Bayer)		168,141		—		156,547			—			151,896		—
Combined cost of goods sold, distribution, selling, general and administrative		79,362		—		80,135			—			62,703		—
Combined collaboration commercial profit		88,779		—		76,412			—			89,193		—
Onyx’s share of collaboration commercial profit		44,390		—		38,206			—			44,597		—
Reimbursement of Onyx’s shared marketing expenses		5,484		—		6,028			—			4,258		—
Royalty income		892		—		838			—			—		—
Revenue from collaboration agreement	$	50,766	$	—	$	45,072		$	—		$	48,855	$	—
Supplemental Schedule As Previously Reported
Nexavar product revenue, net (as recorded by Bayer)	$	—	$	180,887	$	—		$	168,520		$	—	$	151,896
Revenue subject to profit sharing (as recorded by Bayer)		—		168,141		—			156,547			—		151,896
Combined cost of goods sold, distribution, selling, general and administrative		—		79,362		—			80,135			—		62,703
Combined research and development		—		41,855		—			43,946			—		37,478
Combined collaboration profit		—		46,924		—			32,466			—		51,715
Onyx’s share of collaboration profit		—		23,462		—			16,233			—		25,858
Reimbursement of Onyx’s direct collaboration expenses		—		15,570		—			13,128			—		11,880
Royalty income		—		892		—			838			—		—
Net revenue from unconsolidated joint business	$	—	$	39,924	$	—		$	30,199		$	—	$	37,738