Movers and SHAKERS
Onconova Therapeutics Inc. (ONTX)
Q3 Overview: Phase 1 Entry of CDK4/6 ARK5 Program
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.
Q3 Results. Onconova’s 3Q20 results were largely uneventful as the company continues to focus on advancing its pipeline assets through the clinic. In 3Q, Onconova’s net loss was $6.2 million. In the 9-months of 2020, the net loss was $18.7 million, with $6.5 million of SG&A expenses and $12.4 million R&D expenses. The company ended the quarter with $24.2 million in cash and cash equivalents. Earnings per share (EPS) loss was ($0.03) in the quarter.
Adjusting our model. As the INSPIRE study failed to meet the primary endpoint and rigosertib will not yet be commercialized, we are adjusting our estimates for F2020 and beyond. We reduced our SG&A estimate to $8.4 million from $12.5 million attributed to the lack of commercial preparation. We now forecast a net loss of $24.3 million or ($0.13) EPS in F2020. We also reduced our revenue estimates to ...
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.