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ONTX on Radar


Date : April 28, 2018

ONTX

New Trade Alert: Onconova Therapeutics, Inc. (NASDAQ: ONTX)

Cancer affects millions of people annually, and expenditures for cancer care are expected to increase over the years.

The American Cancer Society estimates there will be approximately 1.74M cancer cases for 2018, or around 4,700 new cancer diagnoses per day.

According to the National Cancer Institute, National expenditures for cancer care in the U.S. alone totaled nearly $125B in 2010 and could reach over $150B in 2020.

The rising costs of treating cancer as well as the adverse affects associated with treatments like chemotherapies and traditional cytotoxic medications, has encouraged patients to seek alternative methods, in particular, small molecule targeted cancer therapies.

Unlike traditional treatments which can harm normal cells during treatment, small molecule targeted cancer therapy destroys cancer cells with high precision while normal cells are able to survive, thus making this treatment potentially more effective than traditional methods.

Small molecule targeted cancer treatments have an array of applications in various cancers, such as melanoma, prostate cancer, lymphoma, breast cancer, multiple myeloma and all other cancers.

Who is ONTX

ONTX

ONTX “is a Phase 3-stage biopharmaceutical company focused on discovering and developing novel small molecule drug candidates to treat cancer, with a primary focus on Myelodysplastic Syndromes (MDS)”. 

“Rigosertib, [ONTX’s] lead candidate, is a proprietary Phase 3 small molecule agent, which Onconova believes blocks cellular signaling by targeting RAS effector pathways.” 

“Using a proprietary chemistry platform, Onconova has created a pipeline of targeted agents designed to work against specific cellular pathways that are important in cancer cells.” 

“Onconova has three product candidates in the clinical stage and several pre-clinical programs.” 

“Advanced clinical trials with the Company’s lead compound, rigosertib, are aimed at what the Company believes are unmet medical needs of patients with MDS.”

ONTX has reported multiple news developments over the past few weeks:

Recent Catalysts

May 15th: Onconova Therapeutics, Inc. Reports Business Highlights and Financial Results for First Quarter 2018

NEWTOWN, Pa., May 15, 2018 (GLOBE NEWSWIRE) — Onconova Therapeutics, Inc. (ONTX), a Phase 3 stage biopharmaceutical company focused on discovering and developing novel small molecule drug candidates to treat cancer, with a primary focus on Myelodysplastic Syndromes (MDS), today provided a corporate update and reported financial results for the first quarter of 2018 ended March 31, 2018.

“We have strengthened our balance sheet after completing a $28.75 million upsized underwritten public offering this month. Combined with the funds raised in February, we now have the resources necessary to advance our INSPIRE Phase 3 clinical trial of IV Rigosertib towards complete enrollment, which we expect in the first half of 2019,” said Dr. Ramesh Kumar, President and Chief Executive Officer. “After enrollment of our expanded Phase 2 combination therapy trial and the advance of our CDK inhibitor preclinical program towards the clinic, we are well-positioned in our quest to serve the unmet needs of cancer patients.” 

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“Under the terms of the agreement, Onconova has granted to Pint Pharma an exclusive license to commercialize rigosertib in Latin America. In exchange for these rights, Pint will make investment totaling up to $2.5 million by purchasing shares at a premium to market. In addition, Pint Pharma will make additional regulatory, development and sales-based milestone payments to Onconova of up to $42.75 million and pay double digit tiered royalties on net sales in Latin America. Onconova will supply the finished product for sale in the licensed territories. Pint Pharma will also support Onconova’s clinical trial initiatives in the territory.”

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Technical Analysis

NTX has been trading below its 20 and 50 day moving averages of 0.85 and 0.99, respectively.

ONTX reached a low of 0.60 today after the company filed an S-1 Registration statement (source below). If ONTX stays above this low this could present you with upside potential.  

ONTX is extremely volatile so make sure to follow your trading rules.

However, don’t take my word for it, make sure to do your own due diligence.

ONTX.Chart2

About ONTX

Onconova Therapeutics, Inc. is a Phase 3 stage biopharmaceutical company focused on discovering and developing novel small molecule drug candidates to treat cancer. Using a proprietary chemistry platform, Onconova has created a pipeline of targeted anti-cancer agents designed to disrupt specific cellular pathways that are important for cancer cell proliferation. Onconova has three product candidates in clinical trials and several active pre-clinical programs.  

Onconova-New-Logo2

Advanced clinical trials with our lead compound, rigosertib, are aimed at unmet medical needs of patients with myelodysplastic syndromes (MDS). MDS is a hematological malignancy resulting in bone marrow failure which leads to acute myeloid leukemia (AML) in 30% of high-risk patients. There have been no advancements in this indication in more than a decade. Current therapeutic options are not curative and often cause serious side effects. More than 10,000 patients suffer from MDS in the USA, representing a significant unmet medical need.

Onconova Therapeutics was incorporated in 1998 in Delaware and began trading on the NASDAQ stock exchange under the ticker symbol ONTX in July, 2013.

MISSION STATEMENT

We are committed to delivering novel solutions to cancer patients in need. We seek to develop products that improve the outcome for cancer patients by directly addressing the disease, its recurrence, and the burden of side-effects associated with current methods of treatment.

Disclaimer :

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