Movers and SHAKERS
Onconova Therapeutics Inc. (ONTX)
INSPIRE Fails, What is Next for Onconova?
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.
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Rigosertib fails to provide survival benefit for MDS patients. Onconova announced data from its pivotal INSPIRE study, assessing rigosertib in the 2nd-line high-risk myelodysplastic syndrome (HR-MDS) patients. The primary endpoint of overall survival was not met in this trial. The results showed that IV rigosertib plus best supportive care to physician's choice (PC) did not provide any survival benefits in patients compared to PC alone (6.4 months versus 6.3 months (p=0.33), respectively).
What is next for Onvonova? The results were disappointing. However, the company has the capital ($27.2 million as of June 30th, 2020) to advance other agents in...
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