Tuesday, March 10, 2020 7:51:04 PM
Onconova is focused on discovering and developing novel small-molecule product candidates primarily to treat cancer. The company does not have any marketed product in its portfolio yet. Hence, we expect it to provide updates on rigosertib that inhibits cellular signaling in cancer cells by targeting RAS effector pathways, during the earnings call.
Onconova is currently in the clinical development stage with oral and IV rigosertib, including clinical studies assessing single-agent IV rigosertib in second-line higher-risk myelodysplastic syndrome (HR-MDS) patients (pivotal phase III INSPIRE study) and oral rigosertib plus azacitidine in first-line and refractory HR- MDS patients (phase II).
The company expects to complete the INSPIRE study in the first half of 2020 based on approaching 90% or 324 randomized patients of the required 360 randomized patients and the number of confirmed death events. We expect the company to provide updates on the enrollment status of the study during the conference call.
In December 2019, the company presented preliminary genomics data from the INSPIRE study. Moreover, updated data from the phase II study of oral rigosertib + azacitidine (AZA) Versus Single Agent AZA in Treatment-Naive Patients with HR-MDS was presented in an oral presentation. At study entry, 50 different mutations were identified at baseline prior to patients receiving study treatment with either IV rigosertib or physician’s choice (PC).
What Our Model Indicates
Our proven model does not conclusively predict an earnings beat for Onconova this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here, as you will see below.
Earnings ESP: Onconova has an Earnings ESP of 0.00%, as both the Zacks Consensus Estimate and the Most Accurate Estimate are pegged at a loss of 5 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
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