- Thinly traded nano cap Onconova Therapeutics (ONTX +12.6%) is up on a healthy 36x surge in volume (although down almost 30% from the intraday high of $2.66) on the heels of its announcement that it will advance the Phase 3 INSPIRE study assessing lead candidate rigosertib in patients with treatment-resistant myelodysplastic syndromes (MDS) and will expand enrollment.
- The company made its decision following an interim analysis by the independent Data Monitoring Committee. It remains blinded to the preliminary data.
- Rigosertib is a small molecule that inhibits cellular signaling by acting as a Ras protein mimetic. Ras is a family of proteins that are involved in transmitting signals within cells. When switched "on", it activates other proteins that ultimately turn on genes involved in cell growth, differentiation and survival.
- Previously: Onconova up 18% on positive Phase 3 outlook on lead candidate rigosertib (Oct. 9, 2017)
- Now read: Your Daily Pharma Scoop: Right Time To Buy Regeneron, Eli Lilly Gives Guidance, Bluebird Announces Offering
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