Movers and SHAKERS
Onconova Therapeutics Inc. (ONTX)
Positive Trajectory, Raising Price Target
Onconova Therapeutics Inc is a clinical-stage biopharmaceutical company operating in the US. It focuses on discovering and developing novel small molecule product candidates primarily to treat cancer. The company has created a library of targeted agents designed to work against cellular pathways important to cancer cells. Its product candidates are Single-agent IV rigosertib, Oral rigosertib + azacitidine, IV Briciclib, Recilisib, and ON 123300. The key product candidate Rigosertib is a small molecule which blocks cellular signaling by targeting RAS effector pathways.
Ahu Demir, Ph. D., Biotechnology Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Onconova regained compliance and will continue listing on Nasdaq. The compliance was attributed to the minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2), as the Company’s common stock had a closing price of at least $1.00 per share for a minimum 10 consecutive business days.
Recent financial deals. The company raised equity in two public offerings in Q1 2021, $8.7 million public offering (19,550,562 shares of its common stock at a purchase price of $0.445 per share) in January 2021 and $25 million common stock at a public offering price of $1.00 per share in February 2021. With those, the company has approximately $50 mm cash and cash equivalent over 235 mm shares ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.