NEWTOWN, Pa., Aug. 08, 2017 (GLOBE NEWSWIRE) -- Onconova Therapeutics, Inc. (NASDAQ:ONTX), a Phase 3-stage biopharmaceutical
company focused on discovering and developing novel products to treat cancer, with a primary focus on myelodysplastic syndromes,
today announced that the Company will release its second quarter 2017 financial results on August 14, 2017 after the market closes.
The Company will host a conference call to discuss these results on August 15, 2017 at 9:00 a.m. Eastern Time.
Interested parties may access the call by dialing toll-free (855) 428-5741 from the US, or (210) 229-8823 internationally and
using conference ID 48705257.
The call will also be webcast live at: http://investor.onconova.com/events.cfm.
A replay will be available at that link until November 30, 2017.
About Onconova Therapeutics, Inc.
Onconova Therapeutics, Inc. is a Phase 3-stage biopharmaceutical company focused on discovering and developing novel small
molecule drug candidates to treat cancer, with a primary focus on Myelodysplastic Syndromes (MDS). Rigosertib, Onconova's lead
candidate, is a proprietary Phase 3 small molecule agent, which the Company believes blocks cellular signaling by targeting
RAS effector pathways. Using a proprietary chemistry platform, Onconova has created a pipeline of targeted agents designed to
work against specific cellular pathways that are important in cancer cells, while causing minimal damage to normal cells. Onconova
has three product candidates in the clinical stage and several pre-clinical programs. Advanced clinical trials with the
Company’s lead compound, rigosertib, are aimed at what the Company believes are unmet medical needs of patients with MDS. For
more information, please visit http://www.onconova.com.
About IV Rigosertib
The intravenous form of rigosertib has been employed in Phase 1, 2, and 3 clinical trials involving more than 800 patients, and
is currently being evaluated in the randomized Phase 3 international INSPIRE trial for patients with higher-risk MDS, after failure
of hypomethylating agent, or HMA, therapy. This formulation is intended for patients with advanced disease, provides long
duration of exposure, and ensures dosing under a controlled setting.
About INSPIRE
The INternational Study of Phase III IV
RigosErtib, or INSPIRE, is based on guidance received from the U.S. Food and Drug
Administration and European Medicines Agency and derives from the findings of the ONTIME Phase 3 trial. INSPIRE is a
multi-center, randomized controlled study to assess the efficacy and safety of IV rigosertib in HR-MDS patients who had progressed
on, failed to respond to, or relapsed after previous treatment with an HMA within the first 9 months or nine cycles over the course
of one year after initiation of HMA treatment. This time frame optimizes the opportunity to respond to treatment with an HMA
prior to declaring treatment failure, as per NCCN Guidelines. The trial will enroll approximately 225 patients randomized at
a 2:1 ratio into two treatment arms: IV rigosertib plus Best Supportive Care versus Physician's Choice plus Best Supportive
Care. The primary endpoint of INSPIRE is overall survival and an interim analysis is anticipated. Full details of the INSPIRE
trial, such as inclusion and exclusion criteria, as well as secondary endpoints, can be found on clinicaltrials.gov (NCT02562443).
About Oral Rigosertib
The oral form of rigosertib was developed to provide more convenient dosing for use where the duration of treatment may extend
to multiple years. This dosage form also supports many combination therapy modalities. To date, 368 patients have been treated with
the oral formulation of rigosertib. Initial studies with single-agent oral rigosertib were conducted in hematological
malignancies, lower-risk MDS, and solid tumors. Combination therapy of oral rigosertib with azacitidine and chemoradiotherapy has
also been explored. Currently, oral rigosertib is being developed as a combination therapy together with azacitidine for patients
with higher-risk MDS who require HMA therapy. A Phase 2 trial of the combination therapy has been fully enrolled and the
preliminary results were presented in 2016. This novel combination is the subject of an issued US patent with earliest expiration
in 2028.
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 future events or Onconova Therapeutics, Inc.'s future
operations, clinical development of Onconova's product candidates and presentation of data with respect thereto, regulatory
approvals, expectations regarding the sufficiency of Onconova's cash and other resources to fund operating expenses and capital
expenditures, Onconova's anticipated milestones and future expectations and plans and prospects. 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. 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.
These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including Onconova's
ability to continue as a going concern, the need for additional financing and current plans and future needs to scale back
operations if adequate financing is not obtained, the success and timing of Onconova's clinical trials and regulatory approval of
protocols, 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.
General Contact http://www.onconova.com/contact/ Investor Relations Contact Lisa Sher, MBS Value Partners on behalf of Onconova Therapeutics Lisa.Sher@mbsvalue.com / (212) 750-5800