The promise of an experimental drug for cancer means that Onyx (ONXX) Pharmaceuticals Inc. may reward shareholders with a record windfall by selling itself. Onyx, which is developing a drug called carfilzomib to treat blood cancer, jumped this week by the most since July 2010 after two people with knowledge of the matter said the drugmaker is exploring options including a sale. Mizuho Financial Group Inc. says Onyx could command at least $70 a share in an acquisition, or more than 70 percent above its average in the past 20 days, according to data compiled by Bloomberg.
