Full Press Release Details
Onconova Therapeutics Regains Compliance with
Nasdaq Continued Listing Requirement
June 22, 2021 (GLOBE NEWSWIRE) - Onconova Therapeutics, Inc. (NASDAQ: ONTX) ("Onconova"), a biopharmaceutical
company focused on discovering and developing novel products for patients with cancer, announced that on June 17, 2021 it received a letter
from The Nasdaq Stock Market LLC stating that the Company has regained compliance with the minimum bid price requirement of Nasdaq Listing
Rule 5550(a)(2), as the Company's common stock had a closing bid price of at least $1.00 per share for 18 consecutive business days,
from May 21, 2021 to June 16, 2021.
About Onconova Therapeutics, Inc.
Onconova Therapeutics is a clinical-stage
biopharmaceutical company focused on discovering and developing novel products for patients with cancer. The Company has proprietary targeted
anti-cancer agents designed to disrupt specific cellular pathways that are important for cancer cell proliferation.
Onconova's novel, proprietary multi-kinase
inhibitor ON 123300 is being evaluated in two separate and complementary Phase 1 dose-escalation and expansion studies. These trials are
currently underway in the United States and China.
Onconova's product candidate rigosertib
is being studied in an investigator-initiated study program, including in a dose-escalation and expansion Phase 1/2a investigator-initiated
study targeting patients with KRAS+ non-small cell lung cancer with oral rigosertib in combination with nivolumab. In addition, Onconova
continues to conduct preclinical work investigating rigosertib in COVID-19.
For more information,
please visit 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, and involve risks and uncertainties. These statements relate
to Onconova's expectations regarding the registered direct offering, its patents and clinical development plans including [patient
enrollment timelines and] indications for its product candidates. Onconova has attempted to identify forward-looking statements by terminology
including "believes," "estimates," "anticipates," "expects," "plans," "intends,"
"may," "could," "might," "will," "should," "approximately" or other words
that convey uncertainty of future events or outcomes. 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. These statements are only predictions and involve known and unknown risks, uncertainties,
and other factors, including the success and timing of Onconova's clinical trials and regulatory agency and institutional review board
approvals of protocols, Onconova's ability to maintain its Nasdaq listing, the timing of the Company's annual stockholder
meeting, market conditions and those 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.