Stock Monitor: Sinovac Biotech Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 21, 2017 / Active-Investors.com has just released a free report on Onconova Therapeutics, Inc. (NASDAQ: ONTX) ("Onconova"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ONTX. On December 19, 2017, the Phase-3-stage biopharmaceutical Company, working towards discovering and developing small molecule drug candidates to treat cancer, with a focus on Myelodysplastic Syndromes (MDS), declared that it has entered into a license and collaboration agreement with the oncology specialty Company HanX Biopharmaceuticals Inc. ("HanX") for the further development, registration, and commercialization of ON 123300 in China. The market reacted positively to this development as Onconova shares were up 16% pre-market on light volume. Register today and get access to over 1000 Free Research Reports by joining our site below:
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About ON 123300
ON 123300 is a first-in-class dual inhibitor of CDK4/6 and ARK5, which is currently in advanced pre-clinical development. It is believed that ON 123300 has the potential to overcome the limitations of current generation CDK 4/6 inhibitors.
The main challenge with cancer cells is that they multiply rapidly. CDK inhibitors disrupt this process by blocking the activity of CDK enzymes. CDK4 and CDK6 regulate cell cycle progression at the G1 restriction point, and are hence considered potential anticancer drug targets.
Onconova showcased pre-clinical data on in-vitro metabolism and bioavailability of ON 123300 at the American Association of Pharmaceutical Scientists Annual Meeting and Exposition in November 2017. The data revealed the improved understanding of the metabolism of ON 123300 and the identification of metabolites. It also showed two- to three-fold increase in bioavailability due to the Company's formulation development efforts.
Terms and Conditions of the Agreement
- As per the agreement, HanX will commercialize ON 123300 in Greater China while Onconova would retain the rights for the rest of the world.
- The agreement states HanX will provide all funding required for Chinese IND enabling studies performed for the Chinese Food and Drug Administration IND approval. Besides, both Companies expect these studies to comply with the US Food and Drug Administration (FDA) standards. Afterwards, Onconova could possibly use these studies for an IND filing with the FDA. Both Onconova and HanX will oversee the IND enabling studies.
- In terms of compensation, Onconova will receive an upfront payment, regulatory and commercial milestone payments, as well as royalties on Chinese sales.
Collaboration to Accelerate Advancement of ON 12330
This agreement aims to advance ON 123300 towards a US IND as Onconova aims to create a new standard of care to overcome the limitations of current generation compounds that depend on a combination treatment for therapy. On the other hand, ON 123300 has the potential to act as a single agent, due to the unique targeting of ARK5, as well as CDK4 and 6, making it potentially suitable for indications that may not be responsive to the current generation of CDK4/6 inhibitors, such as Palbociclib.
Onconova intends to focus on its later stage rigosertib clinical development programs in MDS, and looks forward to leveraging the strong expertise of HanX in drug development and commercialization.
HanX Expects to Gain from Potential Synergies
HanX has an emerging pipeline of targeted agents such as proprietary PD-1 checkpoint antibody, which is expected to enter its Phase-1 trial soon. Onconova and HanX share a similar commitment towards developing innovative therapeutics in oncology. Both Companies are collaborating for the development of ON 123300 for patients suffering from many types of cancer, including breast cancer, in China and globally. HanX looks forward to the potential synergies between its pipeline of checkpoint product candidates and Onconova's CDK inhibitors.
Stock Performance Snapshot
December 20, 2017 - At Wednesday's closing bell, Onconova Therapeutics' stock advanced 2.74%, ending the trading session at $1.50.
Volume traded for the day: 103.65 thousand shares.
After yesterday's close, Onconova Therapeutics' market cap was at $16.31 million.
The stock is part of the Healthcare sector, categorized under the Biotechnology industry.
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