Movers and SHAKERS
Onconova Therapeutics Inc. (ONTX)
What do recent deals mean 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.
Refer to full report for price target, fundamental analysis and rating.
Licensing deal to commercialize lead drug in Canada. Onconova inked a licensing agreement with Knight Therapeutics (TSX: GUD, Not covered) to commercialize rigosertib in Canada. Knight is a Canadian specialty pharma company that is focused on acquiring and inlicensing innovative products for the Canadian market. We think this deal provides potential future cash flows for Onconova contingent upon positive data readout from Phase 3 INSPIRE trial and obtaining Health Canada clearance to commercialize rigosertib.
Terms of the deal. Based on the agreement, Knight gains the exclusive rights to commercialize rigosertib in Canada and has an option to expand its territory to Israel. Onconova may receive clinical, regulatory and...
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