Investors will focus on pipeline updates when
Onconova Therapeutics, Inc. ( ONTX Quick Quote ONTX - Free Report) reports second-quarter 2020 results.
Onconova’s stock has skyrocketed 200.3% in the year so far against the
industry's decline of 6.5%.
The company beat earnings expectations by 25% in the last reported quarter.
Over the trailing four quarters, it surpassed earnings estimates on three occasions, the average surprise being 21.70%.
Let us see how things have shaped up prior to this announcement.
Factors in Focus
Onconova is a clinical-stage biopharmaceutical company focused on discovering and developing novel drugs to treat cancer, with a focus on myelodysplastic syndromes (MDS). Hence, investors will focus on pipeline updates.
Onconova’s lead compound, rigosertib, has been tested in an intravenous formulation as a single agent for patients with higher-risk myelodysplastic syndromes ("MDS") and an oral formulation as a single agent in lower-risk MDS or in combination with azacitidine for patients with higher-risk MDS.
The company completed enrollment in the phase III study, INSPIRE, on intravenous rigosertib in a population of patients with higher-risk MDS after the failure of hypomethylating agent ("HMA") therapy. Updates on the same will be keenly awaited.
Last month, the company announced that a phase I/IIa trial of oral rigosertib plus Opdivo in advanced metastatic KRAS mutated (KRAS+) lung adenocarcinoma has begun enrolling patients.
Onconova has also conducted trials with additional research compounds. It has a pre-clinical program with a CDK4/6 and ARK5 inhibitor, ON 123300.
Meanwhile, the company has also submitted an application with the National Institute of Allergy and Infectious Disease (NIAID), with the goal of obtaining funding from the National Institutes of Health (NIH) to conduct human studies with rigosertib in COVID-19 patients. Any updates on the same are expected on the call.
Our proven model does not conclusively predict an earnings beat for Onconova this time around. The combination of a positive
Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Earnings ESP for Onconova is 0.00%.
Zacks Rank: The company currently carries a Zacks Rank #3.
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