Why Onconova Therapeutics (ONTX) Shares Are Trading Higher Today

Onconova Therapeutics Inc ONTX announced that the second of two evaluable participants in the Phase 2 program of rigosertib in squamous cell carcinoma achieved a complete response of all cancerous skin lesions following four treatment cycles.
The trial evaluates rigosertib monotherapy in advanced squamous cell carcinoma complicating recessive dystrophic epidermolysis bullosa (RDEB-associated SCC.
The patient remains on oral rigosertib.
The company previously announced that the RDEB-associated SCC program's first evaluable participant achieved a complete response.
Both of the program's evaluable participants remain on therapy, with the first participant in complete remission with no signs of metastatic disease for more than 18 months.
Rigosertib demonstrates a favorable safety profile in this indication, similar to prior studies in other indications.
RDEB is caused by insufficient expression of type VII collagen protein, which anchors the skin's inner layer to its outer layer, leading to extreme skin fragility and chronic blistering and wound formation with recurrent infections.
Onconova and a program investigator plan to present more detailed data on the first two evaluable participants from the Phase 2 RDEB-associated SCC program at a future medical meeting.
Price Action: ONTX shares are up 11.30% at $1.31 on the last check Tuesday.

Onconova Therapeutics Touts Additional Positive Data For Rigosertib Monotherapy In Skin Cancer Setting