Onconova Therapeutics, Inc. to Present at Two Upcoming Healthcare Conferences
NEWTOWN, Pa., March 21, 2017 (GLOBE NEWSWIRE) -- Onconova Therapeutics, Inc. (NASDAQ:ONTX), a Phase 3 clinical stage biopharmaceutical company focused on discovering and developing novel products to treat cancer, today announced that Company management will present an overview at the Sachs Fifth Annual Cancer Bio Partnering and Investment Forum, and two posters at the American Academy of Cancer Research (AACR) Annual Meeting.
| Presentation Details: | |
| Sachs Fifth Annual Cancer Bio Partnering and Investment Forum | |
| Date: Tuesday, March 28th, 2017 | |
| Time: 11:55 am-12:15 pm | |
| Location: | New York Academy of Sciences |
| Seven World Trade Center, 250 Greenwich Street | |
| New York City | |
| Presenter: Dr. Ramesh Kumar, President & CEO | |
| A recording of the presentation will be available on Onconova's website approximately one week after the event and will be active for 90 days following the event. | |
| American Association of Cancer Research (AACR) Annual Meeting | |
| Date: April 3rd, 2017 | |
| Time: 1:00 pm-5:00 pm | |
| Location: Section 7 | |
| Walter E. Washington Convention Center | |
| Washington, D.C. | |
| Data in the abstracts will be related to two pipeline compounds, both in pre-clinical stages of development: | |
| • ON 123300 is a first in class dual inhibitor of CDK4/6 and ARK5. | |
| • This compound is comparable to palbociclib (Pfizer's Ibrance®) which is approved for breast cancer and is considered a blockbuster. | |
| • Unlike palbociclib, our third-generation molecule has the potential to exhibit single agent activity and could be useful in many indications beyond breast cancer, including hematological cancers. | |
| • ON 123300 is covered by issued patents worldwide. | |
| • The presentation relates to efficacy in animal tumor model showing differentiation from palbociclib and potent anticancer activity. | |
| • This work was carried out by Onconova scientists and our collaborators working at Long Island University. | |
| • ON 150030 is a dual inhibitor of Flt3 and Src kinases, both validated targets for treatment of AML and other cancers | |
| • ON 150030 is a Type I inhibitor, differentiated from Type II inhibitors like Quizartinib, which do not work against mutant kinases. | |
| • Dual specificity allows for targeting both AML as well as solid tumors. | |
| • This work was carried out by Onconova's founding scientists and colleagues, now working at Mount Sinai School of Medicine. | |
About Onconova Therapeutics, Inc.
Onconova Therapeutics, Inc. is a Phase 3 stage biopharmaceutical company focused on discovering and developing novel small molecule drug candidates to treat cancer, with a primary focus on Myelodysplastic Syndromes (MDS). Rigosertib, Onconova's lead candidate, is a proprietary phase 3 small molecule agent, which blocks cellular signaling by targeting RAS effector pathways. Using a proprietary chemistry platform, Onconova has created a pipeline of targeted anti-cancer agents designed to work against specific cellular pathways that are important in cancer cells, while causing minimal damage to normal cells. Onconova has three product candidates in clinical trials and several active pre-clinical programs. Advanced clinical trials with our lead compound, rigosertib, are aimed at unmet medical needs of patients with MDS. For more information, please visit http://www.onconova.com.
Forward Looking Statements
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. These statements relate to future events or Onconova Therapeutics, Inc.'s future operations, clinical development of Onconova's product candidates and presentation of data with respect thereto, regulatory approvals, expectations regarding the sufficiency of Onconova's cash and other resources to fund operating expenses and capital expenditures, Onconova's anticipated milestones and future expectations and plans and prospects. Although Onconova believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Onconova has attempted to identify forward-looking statements by terminology including "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "should," "approximately" or other words that convey uncertainty of future events or outcomes. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including Onconova's need for additional financing and current plans and future needs to scale back operations if adequate financing is not obtained, the success and timing of Onconova's clinical trials and regulatory approval of protocols, and those discussed under the heading "Risk Factors" in Onconova's most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Any forward-looking statements contained in this release speak only as of its date. Onconova undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
GENERAL CONTACT: http://www.onconova.com/contact/ INVESTOR RELATIONS CONTACT: Lisa Sher, MBS Value Partners on behalf of Onconova Therapeutics Lisa.Sher@mbsvalue.com / (212) 750-5800
