What’s going on with Onconova Therapeutics Inc. (ONTX) stock?

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Onconova Therapeutics Inc. (ONTX) is going up in the pre-market on March 18, 2021, as of this writing. The stock went up 14.95% yesterday as well. Still, there is no latest development to support their gains. Let us have a look at the recent past developments.

Recent ONTX news

On Friday, March 12, 2021, ONTX announced its financial results for the twelve months ended December 31, 2020.

Full-year Financial highlights

  • ONTX spent $16.9 million in Research and development expenses, compared to $15.5 million for 2019.
  • General and administrative expenses were $8.3 million for 2020, consistent with 2019.
  • Onconova Therapeutics Inc. suffered a net loss of $25.2 million, or $0.14 per share, compared with a loss of $21.5 million, or $1.49 per share for 2019
  • As of December 31, 2020 ONTX, had Cash and cash equivalents were $19.0 million, compared with $22.7 million in the prior year.

Participation in Three Investment Conferences

Onconova Therapeutics has participated virtually in three investors conference in March 2021. The company participated in

  • The H.C. Wainwright Global Life Sciences Virtual Conference with one-on-one meetings held onMarch 9-10, 2021
  • The Virtual 33rd Annual Roth Conference with one-on-one meetings held on March 15-17, 2021
  • The Maxim Group Emerging Growth Virtual Conference being held March 17-18, 2021 with one-on-one meetings scheduled after the event

About the company

Onconova Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing products for patients with cancer. The company was formed in 1998. Its headquarter is in Pennsylvania, the United States and it startedtrading on the NASDAQ stock exchange under the ticker symbol ONTX in July 2013. Onconova’s proprietary multi-kinase inhibitor ON 123300 is planned to begin a dose-escalation and expansion Phase 1 trial in the U.S. in the first half of 2021, and a dose-escalation and expansion Phase 1 trial is currently underway in China.

Steven M. Fruchtman, M.D. is the president and CEO of the company. Dr. Fruchtman joined Onconova in January 2015 as Chief Medical Officer. He has extensive experience in large and small biopharmaceutical companies and has led successful clinical development programs while serving in senior positions at many Pharmaceutical companies. He is an author of more than 170 lectures, presentations, books, chapters, and abstracts and serves as an external reviewer for multiple medical journals. He received his medical degree from New York Medical College with the distinction of membership in the Alpha Omega Alpha honorary medical fraternity.

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