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      Here’s what to look out for if you want to invest in Onconova Thereapeutics Inc. (ONTX) stock - Stocks Telegraph

      By ST Staff

      Published on

      March 17, 2021

      7:30 AM UTC

      Last Updated on

      October 21, 2021

      9:29 AM UTC

      Here’s what to look out for if you want to invest in Onconova Thereapeutics Inc. (ONTX) stock - Stocks Telegraph

      The Onconova Thereapeutics Inc. (NASDAQ: ONTX) stock fell by -4.46% to the current price of $1.07. The ONTX stock previously closed at $1.12.

      ONTX Full Year 2020 report has mixed news

      There seems to be no exact press news with the last 24-hours that could explain the plunge in the ONTX stock movement. However, ONTX did release its Full Year 2020 financial results report on March 12. While the fourth quarter of 2020 in the report did highlight positive news related to clinical and trial approvals, the financials of the entire year did have some shaky prospects.

      Let’s look at the good news first. FDA approved the clearance of the ON 123300to begin its 1st phase trial. ON 123300 also received approval by IRB at one US trial site. Phase 1 of the ON 123300 solid tumor study is ongoing and enrolling patients. An investigator-initiated study with oral rigosertib in advanced KRAS mutated non-small cell lung cancer is also persistent.

      The financial results have questionable prospects

      However, when it comes to the financial results of the report, we see that the cash and cash equivalents as of December 31, 2020, were $19.0 million, which is $3.7 million less than December 31, 2019financials. Net loss for 2020 was $25.2 million which is greater than the $21.5 million loss in 2019. General and administrative expenses were $8.3 million for both years, which shows consistency as lower personnel stock compensation due to personnel reductions in 2019 were offset by corporate legal and stockholder meeting expenses.

      Research and development expenses were $16.9 million for 2020 compared with $15.5 million for 2019, while ONTX stock raised net proceeds of $35.2 million from two equity offerings with institutional investors.

      What you need to understand about ONTX

      Investors like to identify the Biotech stock ONTX as an attractive stock to keep an eye on. However, with such penny stocks, no matter what fluctuations and volatility it reacts to, the fundamentals of the company are relatively a solid point of analysis to look at before investing in it. The first fundamental thing to look at for the ONTX is its balance sheet. Suppose the current status of the balance sheet is healthy. In that case, it determines that ONTX can carry out all its financial and non-financial obligations while adhering to the investor’s interest.

      Another factor to keep in mind while deciding to buy ONTX stock is that the importance of the stock movement trend far outweighs the outlook of ONTX.

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