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Onconova Therapeutics, Inc. (NASDAQ: ONTX) is a clinical-stage biopharmaceutical company dedicated to discovering and developing novel small molecule drug candidates aimed at treating cancer. Utilizing a proprietary chemistry platform, Onconova has developed an extensive library of targeted anti-cancer agents designed to interfere with specific cellular pathways critical to cancer cells while minimizing harm to normal cells.
The company's core business is centered on three key product candidates currently in clinical trials and six active pre-clinical programs. These innovative treatments aim to improve patient outcomes by directly addressing the disease, reducing recurrence, and lessening the side effects commonly associated with existing therapies.
Among its recent achievements, Onconova has made significant strides in translational science to better understand the pathways affected by its lead drug candidate, rigosertib. This research is expected to guide future clinical studies and combination treatments for challenging cancer types.
Onconova regularly hosts conference calls and webcasts to update stakeholders on its progress. For instance, the company is scheduled to hold a conference call and webcast on November 14, 2023, to provide further insights into its ongoing projects and recent developments.
Onconova Therapeutics has presented new preclinical data on narazaciclib at the AACR Annual Meeting, showcasing its potential as a novel anti-cancer agent. The data demonstrates narazaciclib's ability to inhibit kinases not targeted by existing CDK 4/6 inhibitors, suggesting it may overcome their limitations. Notably, it showed enhanced tumor cell growth inhibition compared to palbociclib and abemaciclib, with a significant increase in apoptosis in breast cancer models. Additionally, narazaciclib displayed synergistic effects when combined with ibrutinib in treating mantle cell lymphoma, indicating its effectiveness against both sensitive and resistant cell lines. Onconova plans to advance narazaciclib into Phase 1/2a trials for endometrial cancer while seeking opportunities in other indications.
On April 6, 2023, Onconova Therapeutics (NASDAQ: ONTX) announced the unexpected passing of its Chief Medical Officer, Mark Gelder, M.D. Dr. Gelder had served as CMO since June 2021 and was a respected leader in clinical development and medical affairs, with over 35 years of experience. Michael Saunders, M.D., has been appointed as interim CMO. In light of this loss, Onconova's ongoing clinical trials are not expected to be materially affected. The company is currently searching for a permanent replacement. Onconova focuses on developing targeted anti-cancer agents, including its multi-kinase inhibitor narazaciclib and rigosertib, with trials ongoing in the U.S. and China. The company remains committed to advancing its clinical programs and honoring Dr. Gelder's legacy in cancer treatment.
Onconova Therapeutics (NASDAQ: ONTX) has announced a strategic collaboration with Pangea Biomed to utilize the ENLIGHT platform for identifying biomarkers of response to rigosertib, a cancer treatment candidate. This research aims to enhance precision medicine approaches by identifying additional indications for rigosertib based on its efficacy against PLK1, as seen in prior clinical studies. Rigosertib has shown anti-cancer activity in patients with KRAS-mutated non-small cell lung cancer and advanced squamous cell carcinoma. Onconova retains all intellectual property rights generated from this collaboration, aiming to improve patient outcomes in challenging cancer types.
Onconova Therapeutics (NASDAQ: ONTX) reported its financial results for 2022, revealing a net loss of $19 million, or $0.91 per share, compared to a net loss of $16.2 million in 2021. The company has cash reserves of $38.8 million, expected to fund operations into Q1 2024. Highlights include advancing narazaciclib's Phase 1 trial to a sixth dose escalation cohort and plans for a Phase 1/2a trial combining narazaciclib with letrozole, slated to enroll patients soon. Additionally, rigosertib's trials in RDEB-associated SCC show promising responses, and further trials are advancing in lung cancer and melanoma. A conference call will discuss these results in detail.
Onconova Therapeutics (NASDAQ: ONTX), a clinical-stage biopharmaceutical company, announced the acceptance of two abstracts for presentation at the AACR Annual Meeting from April 14-19, 2023, in Orlando, Florida. The posters will explore the synergistic effects of narazaciclib, a novel CDK4/6 inhibitor, with ibrutinib in treating resistant mantle cell lymphoma and its unique mechanisms compared to existing CDK4/6 inhibitors. Results indicate narazaciclib's superior antitumor activity, promoting tumor growth inhibition without toxicity in preclinical models. These findings could enhance their clinical applications and further support ongoing trials in the U.S. and China.
Onconova Therapeutics (NASDAQ: ONTX) plans to release its Q4 and full year 2022 financial results on March 16, 2023. A conference call and webcast will follow at 4:30 p.m. ET to discuss these results and provide updates on the company's pipeline, including the ongoing clinical trials of its novel multi-kinase inhibitor narazaciclib and rigosertib. Both products are undergoing investigations in various cancer types. Investors can participate in the call by dialing designated numbers or through the company’s website.
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