Onconova Therapeutics Inc (ONTX)

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ONTX reported higher net revenue for 2019 over the previous year.
Shares of Onconova Therapeutics, Inc. are trading higher in Tuesday's after-hours market, after the company said it completed enrolling patients in a Phase 3 trial and reported higher net revenue for 2019 over the previous year.

At 5:07 p.m. EDT, Onconova shares had risen 17.78% to trade at 43 cents. Volume in the after-hours session topped 3.7 million shares.

The company's stock finished the day's regular-trading session with a 15.58% gain, closing at 36 cents.

Onconova said it had completed enrolling 360 patients in the Phase 3 Inspire trial, which is designed to test the efficacy and safety of IV rigosertib in certain patients suffering from myelodysplastic syndromes, a type of cancer that can disrupt the production of blood cells.

Steven M. Fruchtman, the company's president and chief executive, said, "We are also pleased about the progress of our plans for additional investigator-initiated studies - including the Phase 1/2a study of rigosertib plus nivolumab for the treatment of Stage IV KRAS mutated lung adenocarcinoma. We anticipate the first patient to be entered onto the trial once the COVID-19 environment improves sufficiently."

The company reported 2019 revenue of $2,183,000, above the 2018 figure of $1,228,000.

--Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

March 24, 2020 17:32 ET (21:32 GMT)

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