Bucks County biopharm firm's stock plunges after key product fails in late-stage testing

Onconova Therapeutics' stock price plummeted by more than 70% Monday morning after the company announced disappointing results from late-stage testing of its lead new drug candidate. The Newtown biopharmaceutical company said results from its phase-III clinical trial showed its experimental cancer therapy, IV rigosertib, did not meet its primary endpoint of improved survival rates for patients. The disclosure sent Onconova's (NASDAQ: ONTX) stock price down from $1.01 per shar e to 30 cents. The…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news