Onconova Therapeutics (NASDAQ:ONTX) stock is on the move Tuesday despite a lack of recent news from the company.
The boost to Onconova Therapeutics stock today comes as it experiences heavy trading. This has more than 107 million shares of ONTX stock changing hands as of this writing. For comparison, that’s a massive jump from its daily average trading volume of just 12.98 million shares.
Investors are clearly taking an interest in Onconova Therapeutics, but some might be new to it. Here’s a quick breakdown of it to help out.
- Onconova Therapeutics is a biopharmaceutical company that is focused on discovering and developing new treatments for cancer.
- This has it working on a proprietary chemistry platform to create targeted anti-cancer agents that disrupt certain cellular pathways used by cancer.
- It was founded in 1998 and is headquartered in Pennsylvania.
- The company joined the public exchange via an initial public offering (IPO) that took place in July 2013.
- Onconova Therapeutics current has an ongoing Phase 1/2 clinical trial evaluating the use of oral rigosertib with azacitidine to treat patients with myelodysplastic syndrome or acute myeloid leukemia.
- It’s also recruiting for a Phase 1 clinical trial of rigosertib and nivolumab in “metastatic Kirsten rat sarcoma positive (KRAS+) lung adenocarcinoma patients who have progressed on standard first line treatment.”
- The company has several other treatments in its pipeline, including a preclinical one to address the novel coronavirus.
ONTX stock was up 37.3% as of Tuesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.