While no one will be calling the end of the biotech run after Onconova Therapeutics' rigosertib failed in high-risk myelodysplastic syndrome (MDS), the flop might cause some investors who have been throwing money at what appear to be some highly speculative IPO candidates to pause for thought. There are some...Mastercard’s chart isn’t perfect…But it’s pretty close. News of Onconova’s clinical miss caused its shares to fall 43% in early market to $7.90, taking them to almost half of their $15 offer price.
These are the high-risk patients that Onconova was hoping to help in the On-Time trial.Unfortunately, the 299 patient trial in patients who had failed or relapsed on hypomethylating agents (HMAs) failed to show an overall survival benefit compare with best supportive care, with median overall survival coming in at 8.2 months versus 5.8 months in the control arm, an statistically insignficant difference.Positive results in this second line setting would have represented a big win for Onconova, given that there are no other treatments for these patients other than HMAs.
This should reassure anyone wondering why its stock has nearly doubled since listing on Nasdaq less than two weeks ago.The company has made quiet progress since being founded in 1999, but last year set the stage for what stands as one of the most successful biotech floats of the current cycle. In the low-risk form of the disease this can be compensated for by blood transfusions.However, because these immature cells, called blasts, can enter the blood stream patients with high numbers of blasts in their blood are at a much higher risk of developing full-blown leukaemia. Subscriber Sign In The IPO raised $79.6M and leaves the … All Rights Reserved Onconovas Recent IPO Beginning To Catch On With Biotech InvestorsYour ability to comment is currently suspended due to negative user reports.
So those looking at the list of biotech companies waiting in the wings to float should remember the basic rule of investing, that what goes up can also come down. Onconova Therapeutics, Inc. Common Stock (ONTX) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets.
Last April Baxter International bought $50m of equity, and followed this up five months later with another $50m up front for European rights to Onconova’s lead project, rigosertib.It is rigosertib that is central to Onconova’s investment case. While patriotism might be the last refuge of a scoundrel, data mining is increasingly becoming the last refuge of biotech companies with failed trials. Alongside the disappointing results in this admittedly hard-to-treat patient population, what may have also caused the share price slide was the loss of an expected milestone payment from Baxter if the trial had been positive.
After basing between around $285 and $315 a share during June and July, Mastercard (NYSE:MA) broke...We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. Incyte’s epacadostat blow-up leaves a trail of destructionGilead’s myelofibrosis stumble leaves way clear for JakafiBig pharma sports smallest late-stage pipeline for a decadeCovid-19 antibody tests face a very specific problem Onconova Therapeutics, Inc. is a biopharmaceutical company focused on discovering and developing products to treat cancer. Additionally, it used to be extremely difficult for small cap biotech companies to finance running multiple clinical trials.
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Onconova currently has a pre-IND stage program with a CDK4/6 and Ark5 inhibitor, ON 123300.Onconova Therapeutics was incorporated in 1998 in Delaware and began trading on the NASDAQ stock exchange under the ticker symbol ONTX in July, 2013.Onconova Therapeutics, Inc. is a biopharmaceutical company focused on discovering and developing products to treat cancer. After weeks of nothing but a boring grind higher, I finally have something interesting to write about. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.By doing so, you and %USER_NAME% will not be able to see
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