NEWTOWN,
Pa., May 17, 2021 (GLOBE NEWSWIRE) -- Onconova Therapeutics, Inc.
(NASDAQ: ONTX) (“Onconova”), a clinical-stage biopharmaceutical company
focused on discovering and developing novel products for patients with
cancer, today announced financial results for the three months ended
March 31, 2021 and provided a business update.
Highlights for the first quarter of 2021 and subsequent weeks include:
The
Phase 1 solid tumor study with ON 123300 in China is ongoing with no
dose-limiting toxicities observed in the first two cohorts. Enrollment
to the third cohort (120 mg) will now proceed.
The Phase 1 study with ON 123300 in the United States is open for enrollment, and actively screening patients.
The
first patient has been dosed in an investigator-initiated Phase 2 study
designed to assess the efficacy and safety of rigosertib in patients
with recessive dystrophic epidermolysis bullosa (RDEB)-associated
locally advanced/metastatic squamous cell carcinoma (SCC).
The
investigator-initiated Phase 1/2 study evaluating rigosertib in
combination with the checkpoint inhibitor nivolumab in KRAS mutated
non-small cell lung cancer has progressed nicely and has reached the
maximum dose of oral rigosertib per the current protocol.
The
Company strengthened its balance sheet with net proceeds of $35.2
million from two equity offerings; cash and cash equivalents as of March
31, 2021 were $48.0 million. The Company believes it has more than 18
months of cash runway.
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