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Onyx (ONXX) Pharmaceuticals secures commitment for up to $150M in financing

Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) today announced that it has secured a commitment for up to $150 million in a common stock equity financing facility with Azimuth Opportunity Ltd. During the two-year term of the commitment, Onyx may sell at its discretion registered shares of its common stock to Azimuth Opportunity at a discount to the market price. Onyx will determine, at its sole discretion, the timing and amount of any sales of its stock, subject to certain conditions. Acqua Capital Management is an advisor to Azimuth Opportunity.

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