Onconova Therapeutics Inc (ONTX)

[ash111]

Based on what? they have plenty of Cash($27.6m) vs Cap of less than $20m.
$3m+ investment at 4.1 PPS just 2 month ago(a half of current market cap) is more than just a bet:
Cash/share= 4.38 (27.6m / 6.3m o/s ), float is 3.3m due to past month buys by both funds+insiders http://insidertrading.org/index.php?sort_by=transaction_total_value&asc=1&symbol=ONTX&date_from=2016-08-10&date_to=2016-08-23&submit=+GO+

Catalysts anytime per this:
Enrollment of patients in Israel, Australia and Canada for INSPIRE trial: 3Q2016

Key Opinion Leader investor event to discuss the potential future applications of the RAS-directed Mechanism of Action in oncology and for rigosertib: 3Q2016

End-of-Phase 2 meeting with FDA and European authorities to discuss trial results and future development plan for oral rigosertib in combination with azacitidine: 2H2016

“We are encouraged by the progress of our global Phase 3 trial of our lead product candidate, rigosertib, for patients with myelodysplastic syndromes (MDS). The INSPIRE trial is actively enrolling patients in the U.S., Europe and Japan, and we have recently opened trial sites in Israel and Australia, bringing us more than two-thirds of the way to our target of approximately 135 sites worldwide. The enrollment of patients in Japan by our Japan/Korea partner, SymBio Pharmaceuticals, is further accelerating this important pivotal trial,” said Ramesh Kumar, Ph.D., President and CEO of Onconova. “As a result of the completion of our oversubscribed rights offering in July, we believe we are positioned to deliver multiple key milestones in 2016 and 2017, including opening additional INSPIRE trial sites, pre-planned interim analysis and enrollment of approximately 225 patients. Finally, we have initiated discussions with U.S. and European regulatory authorities towards formal End-of-Phase 2 meetings to define the pathway forward for further development of oral rigosertib. We intend to provide an update on these discussions later this year.”