Onyx Pharmaceuticals Inc. (ONXX) reported a fourth-quarter net loss of $42.92 million, or $0.64 per share, compared to net income of $216.68 million or $3.16 per share in the year ago quarter. The company recorded contingent consideration expense of $2.9 million, compared to a benefit of $116.7 million in the prior year quarter.
Non-GAAP net loss for the quarter was $23.99 million, or $0.36 per share, compared to net income of $105.30 million or $1.50 per share last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.75 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter was $127.9 million, down from $237.0 million in the year ago quarter. Revenue from the Nexavar collaboration agreement fourth quarter of 2012 was $72.9 million, compared to $76.8 million last year. Contract revenue from collaborations plunged to $1.50 million from $160.21 million last year.
Eighteen analysts had consensus revenue estimate of $113.17 million for the quarter.
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