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Thursday, February 2, 2023

Onconova Therapeutics, Inc. (ONTX) Skyrockets after Promising Lung Cancer Data Trials

Investors react vigorously to the positive outcomes from Onconova Therapeutics’ (ONTX) novel lung cancer treatment– Phase 1/2a trial of oral rigosertib. ONTX shares escalated up to 30% in the pre-trading on September 22, 2021.

Onconova Therapeutics (ONTX) stock has been trading side ways since June 2021. The stock has suffered following its momentous trading month earlier in February. Overall, ONTX shares have plunged by 30% this year. However, a positive news is what can break the barrier for a stock.

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ONTX shares have been pulling off today from the pre-market. The stock has soared over $6 per share for the first time since July 2021 following the announcement of promising lung cancer treatment trails.

Onconova is a clinical-stage biopharmaceutical firm that is known for developing novel products for patients with cancer. The company is working on lung cancer treatment and is in early stages of the study. The preliminary of oral rigosertib plus the immune checkpoint inhibitor nivolumab in the Phase 1/2a trial came out safe and efficient.

The company is featuring the data of cancer treatment at the 3rd Annual RAS Targeted Drug Development Summit, which is ongoing and will end on September 23. The data from the study shows that the treatment supports the potential anti-cancer activity of rigosertib-nivoluma.

There was a total of 12 patients enrolled in the study and every patient failed at least one line of prior therapy with a PD-1 checkpoint inhibitor. Around 9 of 12 patients failed at least two prior lines of therapy. Whereas, 2 of 7evaluable patients achieved a partial response and 3 of 7evaluable patients achieved disease control.

Overall, the results are encouraging and gives a go ahead signal to Onconova to continue working on the treatment. The evaluable patients have shown progress. The early-stage safety and efficacy reflects the ability of rigosertib and nivolumab to target KRAS mutated NSCLCs. Further progressing into the study, this could potentially help in overcoming immune checkpoint inhibitor resistance mechanisms.

For now, the company stated that the overall responses were seen with different KRAS+ variants, which indicates critical unmet need.

Onconova Therapeutics looks forward to the future outcomes from the study as things are on a smooth road. The Chief Medical Officer of the company, Mark S. Gelder mentioned that they will continue the development of the rigosertib nivolumab combination as a potential treatment for patients with limited therapeutic options.

We can expect Onconova Therapeutics (ONTX) continue to sideways movement unless something big triggers the stock like earlier this year.

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