Biotech Values

[DewDiligence]

ONTX IPO’s @$15/sh and rises 32% on first day:

http://finance.yahoo.com/news/onconova-announces-pricing-initial-public-110000947.html

Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing novel products to treat cancer. Onconova's clinical and pre-clinical stage drug development candidates are derived from its extensive chemical library and are designed to work against specific cellular pathways that are important in cancer cells, while causing minimal damage to normal cells. In addition to rigosertib, the Company’s most advanced product candidate, two other candidates are in clinical trials, and several candidates are in pre-clinical stages.

Rigosertib is a PI3K inhibitor in competition with such drug candidates as GILD’s Idelalisib and INFI’s IPI-145.

There will probably be some investors who try to buy ONTX and end up getting ONTY, which could be unfortunate :- )