Onconova Therapeutics, Inc. (NASDAQ: ONTX), a biotechnology corporation dedicated to the research and production of innovative cancer therapy drugs surged over 31% at $0.38 in pre-market trading Tuesday, on no news.
However, recently the company announced the registration with the U.S. of an Investigational New Drug (IND) application Food and Drug Administration (FDA) for the patented, differentiated, first-in-class multi-kinase inhibitor of the Business, ON 123300. The IND is seeking permission to launch a Phase 1 trial with ON 123300 in patients with HR+ HER 2-metastatic breast cancer with resistance to licenced second-generation CDK4/6 inhibitors for relapsed/refractory advanced cancer.
