Onyx Pharmaceuticals Inc., the developer of the kidney-cancer treatment Nexavar, climbed 4.3 percent in New York trading on optimism the company may be sold. Onyx rose $1.84 to $44.64 at 9:39 a.m. New York time. The shares of the South San Francisco, California-based drug developer surged 14 percent yesterday after two people with knowledge of the matter said the company is exploring options including a possible sale. Potential buyers are studying Onyx's business and its experimental carfilzomib cancer therapy, said one of the people who declined to be identified as the discussions are private. Onyx had a market value of about $2.4 billion as of Nov. 25 and is working with Centerview Partners LLP to review alternatives, said the people.
