Thursday, August 13, 2020
Onconova Therapeutics Inc. (ONTX)
Q2 EPS: Can’t-Wait to INSPIRE
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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Eyes are on the INSPIRE trial. Onconova’s main focus remains as the pivotal INSPIRE study, assessing rigosertib in the 2nd-line high-risk myelodysplastic syndrome (HR-MDS) patients. The company recently reached the required number of survival events to initiate data analysis for the INSPIRE trial. The company anticipates providing preliminary top-line data in Q3 2020 and full top-line data at a medical conference in Q4 2020.
Q2 earnings results. Net operating loss was $7.4 million for the quarter including $4.8 million research and development (R&D) expenses $2.6 million general and administrative (SG&A) expenses. Onconova reported ($0.04) EPS. We are maintaining our F2020 estimates of …
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