Friday, August 12, 2022
Onconova Therapeutics (ONTX)
All Trials Continue Toward Data Milestones
Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer. The Company has proprietary targeted anti-cancer agents designed to disrupt specific cellular pathways that are important for cancer cell proliferation. Onconova’s novel, proprietary multi-kinase inhibitor narazaciclib (formerly ON 123300) is being evaluated in two Phase 1 dose-escalation and expansion studies. These trials are currently underway in the United States and China. Onconova’s product candidate rigosertib is being studied in an investigator-sponsored study program, including in a dose-escalation and expansion Phase 1/2a investigator-sponsored study with oral rigosertib in combination with nivolumab for patients with KRAS+ non-small cell lung cancer.
Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
2Q22 Onconova Reported Trial Progress. 2Q22 loss of $4.0 million or $(0.19) per share, compared with our estimated loss of $3.7 million or $(0.18) per share. Several clinical trials for both narazaciclib and rigosertib are continuing as expected. The company ended the quarter with $46.5 million in cash and cash equivalents.
Both Narazaciclib Phase 1/2 Trials Continue To Enroll Patients. The two trials testing narazaciclib at different treatment schedules continue to treat patients. The trial in China continues in its fifth cohort while the US trial recently begun dosing its fifth cohort. Neither trial has reached its maximum tolerated dose and none of the toxicities associated with other CDK4/6 drugs have been reported. We expect announcement of the dosing level selected for Phase 2 around 4Q22….
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.
