ONTX - Onconova Q1 net loss narrows 13% although revenue remains flat

Onconova Therapuetics (NASDAQ:ONTX) saw its Q1 2022 net loss narrow ~13% year-over-year to ~4.1M (-$0.20 per share, basic and diluted) even as revenue was unchanged. Revenue in the quarter was $56K. The cancer therapy company missed on the top and bottom lines. Operating expenses were also flat at ~$4.2M. The company ended the quarter with $50.8M in cash, which it said is enough to fund business operations and ongoing trials for at least 18 months. A phase 2 trial of its candidate rigosertib plus Keytruda (pembrolizumab) metastatic melanoma was recently cleared by the U.S. FDA. Seeking Alpha's Quant Rating views Onconova (ONTX) as a hold.

For further details see:

Onconova Q1 net loss narrows 13% although revenue remains flat