Onconova Therapeutics Stock Surges 18% On Positive Pre-clinical Data For Cancer Drugs

By Emma Court Markets MarketWatch Pulse

Onconova Therapeutics Inc. stock surged as much as 18% in premarket trade Tuesday after the company said its two cancer drugs had positive pre-clinical results. Onconova shares were valued at $3.01 as of Monday's close. One drug, ON 123300, was found in a model to work as well as Pfizer Inc.'s Ibrance, and could lead to less infection susceptibility, the company said. The other drug, ON 150030, showed promising results in relapsed and refractory Acute Myeloid Leukemia, the company said. Both results were presented on Monday at the American Association for Cancer Research's annual meeting. Onconova shares have surged 30.3% over the last three months, compared with a 3.9% rise in the S&P 500 .

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