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Sep 30, 2022
Onconova Q3 2022 Earnings Report
Announced plans for a Phase 1/2a trial of narazaciclib combined with letrozole in endometrial cancer and reported third quarter 2022 financial results.
Key Takeaways
Onconova Therapeutics reported its Q3 2022 financial results, highlighting the upcoming Phase 1/2a trial of narazaciclib combined with letrozole in recurrent metastatic low-grade endometrioid endometrial cancer (LGEEC). The company's cash and cash equivalents are expected to fund operations into 2024.
Phase 1/2a trial of narazaciclib combined with letrozole in recurrent metastatic low-grade endometrioid endometrial cancer (LGEEC) is expected to start in 1Q23, with preliminary data expected in 4Q23.
Rigosertib's investigator-sponsored studies have complemented efforts in the narazaciclib program, with recent data showing complete and partial responses in advanced KRAS-mutated non-small cell lung cancer when combined with a PD-1 checkpoint inhibitor.
Cash and cash equivalents as of September 30, 2022, were $42.6 million, expected to fund operations into 2024.
Net loss for the third quarter of 2022 was $5.4 million, or $0.26 per share.
Forward Guidance
Onconova expects that its cash and cash equivalents will be sufficient to fund ongoing clinical trials and business operations into 2024.
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