Onconova announces encouraging preclinical data on two AML candidates; shares ahead 13%

|About: Onconova Therapeutics (ONTX)|By:, SA News Editor

Onconova Therapeutics (ONTX +13.3%) heads north on a healthy 39x surge in volume in response to its announcement of positive preclinical data on two acute myeloid leukemia (AML) candidates, ON 123300 and ON 150030. The results were presented at the American Association for Cancer Research Annual Meeting in Washington, DC.

In a xenograft (graft of tissue from one animal species to another) model ON 123300, a third-generation CDK4/6 inhibitor, demonstrated that it was as effective as Pfizer's Ibrance (palbociclib) with potentially less neutropenia (abnormally low levels of neutrophils in the blood). Both compounds reduced red blood cell and platelet counts, however.

Studies at the Icahn School of Mount Sinai showed that ON 150030, a type 1 inhibitor, specifically restricts the growth of a particular type of cells (MV4-11) that harbor a genetic mutation called FLT3-ITD. AML patients with this mutation have a poor prognosis.

The company says the two compounds represent a promising dual targeting strategy for treatment-resistant AML.