Update: Moving forward
After receiving feedback from US and EU regulatory authorities, Onconova submitted a trial protocol in April with overall survival as the primary endpoint for its pivotal trial in myelodysplastic syndrome (MDS) patients. We remain confident of the ultimate success of rigosertib (IV), although we have taken a more conservative view of the launch timelines. As such, we have lowered our valuation to $171m or $7.91 per basic share, from $254m or $11.70 per share.Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule product candidates primarily to treat cancer. Substantially all of the company's existing effort is focused on its primary product candidate, rigosertib. Rigosertib is being tested in an intravenous formulation as a single agent, and an oral formulation in combination with azacitidine, in clinical trials for patients with higher-risk myelodysplastic syndromes. Briciclib, another of the company's product candidates, is a small molecule targeting an intracellular regulatory protein, Cyclin D1, which is often found at elevated levels in cancer cells.
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