Miss ONXX's $81.50 Secondary But Think It's A Steal At $70?

Looking back to 134 days ago, Onyx Pharmaceuticals, Inc. (NASD: ONXX) priced a 4,400,000 share secondary stock offering at $81.50 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time and based on early trading on Thursday, the stock is now 16.1% higher than the offering price.