Onconova Therapeutics, Inc. (NASDAQ: ONTX) making solid, light volume, Move

(24/7 Market News) Onconova Therapeutics, Inc (NASDAQ:ONTX) appears to be waving higher today, trading at $1.40, a gain of $0.26 (+22.82%), but only on a little less than 500 thousand shares traded.

It’s tried to challenge today’s high, but has come up a little short. If it can pierce through its $1.47 high for the day, it doesn’t look like there’s much resistance between this level and possibly into the $2 range, however, as of May 15, 2022 there were only 88,700 shares short, which is less than the average daily volume, so the volume may not reach critical mass.

Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer, and last week announced that it published an abstract at the American Society of Clinical Oncology (ASCO) Annual Meeting, which featured preclinical data from in vitro and cell-based assays that demonstrate how narazaciclib’s inhibitory profile differentiates it from the FDA-approved CDK4/6 inhibitors palbociclib, ribociclib, and abemaciclib.

 Abstract highlights included: Narazaciclib, abemaciclib, palbociclib, and ribociclib each have strong affinity for CDK4/cyclin D1, with K; Narazaciclib and abemaciclib have similar affinities against CDK family members, including nM activity against CDK2/cyclin A, which may play a role in resistance to palbociclib and ribociclib; and Narazaciclib’s inhibitory activity against GSK3B, a kinase whose inhibition putatively causes tolerability issues related to diarrhea, is ~29 times less than that of abemaciclib.

24/7 MARKET NEWS, INC Disclaimer

24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.

Securities Disclosure: 24/7 MN’s editor holds no direct investment interest in any company mentioned in this article.

Please go to www.247marketnews.com or https://www.247marketnews.com/terms-disclaimer/ for further information.

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.