Cancer has impacted numerous lives, and various companies — including Onconova Therapeutics, Inc. (NASDAQ: OTNX) — are working to combat the disease.
The biopharmaceutical firm focuses on researching and developing medications for cancer patients by disrupting specific molecular pathways to stop cancer cells from proliferating. Since it was founded in 1998, the company has faced an uphill battle in combating the disease. In the expansion phase of a clinical-stage biopharmaceutical firm, they can create more revenue streams, but it can take time because, above all else, these companies must develop long-lasting treatment methods.
How to Buy Onconova Therapeutics Stock
Purchasing shares for Onconova Therapeutics can be a simple process if you have a brokerage account. Log into your account, locate the stock, and purchase the desired number of shares.
People without a brokerage account should take a few basic measures before jumping into buying or selling Onconova shares. First, look at the instructions outlined below.
Step 1: Pick a brokerage.
A broker operates as an intermediary between you and the stock exchange. The consumer instructs their broker to purchase a stock, and the broker executes the transaction. For example, if you want to acquire Onconova stock, you tell your broker to buy the number of shares you want at the price you want, and your broker follows your instructions.
In exchange for services, the broker charges you a fee. Depending on the broker, the cost varies. As a result, it is critical to do your homework on charges and other factors before opening an account.
Step 2: Decide how many shares you want.
After you have decided on a broker, you'll need to fund your account and choose how many shares you want to purchase. Consider how much risk you're willing to take and how much of your budget will be assigned to Onconova.
Many investors start with a small investment and gradually increase it over time. First, however, think about how you'll enter the market before making a final decision.
Step 3: Choose your order type.
This stage asks you to choose how your position will be carried out. Of the various order types, the two most important are market and limit orders.
Market orders are when you buy the stock at a price set by the market. Or, to put it another way, you purchase at the current market price. As a result, using market orders increases the likelihood of your order being completed.
Limit orders imply that you choose the price at which you purchase the stock. Of course, you may choose what price you want to buy the shares at, but there's a chance the order won't be honored if the price does not reach your target.
Step 4: Execute your trade.
After you have completed the steps needed to buy shares, all that is left to do is buy them. After you open the trade ticket and complete the required fields, click buy. When you've finished, go to the appropriate tab on your brokerage site to keep track of your current positions and monitor your portfolio.
Where to Buy Onconova Therapeutics
Onconova Therapeutics has traded on the Nasdaq Stock Market under the ticker symbol ONTX since 2013. Different traders or investors have different requirements for the broker and platform they use, so it is critical to select one right for you. Check out the following list of stockbrokers that offer Onconova shares.
Onconova Stock History & Value
Since its inception, Onconova has been working on the battle against cancer. Its proprietary multi-kinase inhibitor ON 123300 is being evaluated in two phase 1 dose-escalation and expansion studies.
Trials are underway in the United States and China, but the company’s stock price depends on the success of its trials and drugs.
The stock has a complicated history, with continuous declines over the years and a stumbling attempt to regain momentum. The stock is at its lowest point in 2022, but can it make a recovery?
Onconova’s early days on the stock market saw the company surge, but less than two months later the stock fell considerably. A significant drop in the company’s shares came as no surprise, with the company chalking up another failure for a metastatic pancreatic cancer drug.
Its shares have never been able to reach the soaring heights they showed in 2013 and have progressively fallen each year. In early 2022, Onconova fell to its lowest share price of $1.38.
With a few drugs still in trials and awaiting results, there may be some room for hope for Onconova, but it’s not guaranteed.
Onconova: What Analysts Are Saying
It's helpful to have a sense of what potential investors think about the stock. Comparing what analysts say will allow you to understand alternative points of view and the benefits and drawbacks.
Short interest in Onconova increased 42.7% in February, with a total of 209,000 short positions.
Ladenburg Bull Case
Ladenburg Thalmann & Co. Inc. (OTCMKTS: LTSA) analyst Ahu Demir initiated Onconova stock with a Buy rating and a $7 price target at the beginning of March. Demir believes Onconova’s narazaciclib drug has "solid fundamentals" and has attributes to differentiate itself from other medications.
Pros and Cons of Onconova
Onconova’s drug: Demir praised Onconova’s new drug, which is in the trial phase, and said he believes in the stock’s growth. Based on preclinical data, the “solid fundamentals” included improved selectivity and activity in CDK4/5 resistant cells.
Earnings: The company’s 2021 third-quarter earnings — its most recent — saw an improvement to its net profits. In addition, research and development expenses fell by $2.4 million compared to the same quarter a year prior, while its net loss decreased to $3.5 million.
Stock history: A stock's past performance has no bearing on its future performance, but it can be used as a guide for future success or failure. Onconova’s stock has suffered in the past, losing the bulk of its market share over time.
Risk: The therapeutic market involves a considerable amount of risk, as research and development can be costly with no assurance of success. If the drugs Onconova is now studying fail, it could impact its earnings and stock value.
Is Onconova a Buy, Sell or Hold?
Sentiment for Onconova shifts frequently, but the stock's general trend has been unfavorable. Onconova has rarely progressed any higher after its significant falls and has been unable to recover to the heights shown during its early years on the market.
Because of its past performance and the risks associated with the market it is in, a Sell rating may be accurate. But this is highly dependent on the success of its pipeline and based on past performance.
Frequently Asked Questions
What is Onconova Therapeutics working on?
Onconova has a pipeline of proprietary targeted agents designed to work against specific cellular pathways that are important in cancer cells. Advanced clinical trials with the company’s lead compound Rigosertib are aimed at what the company believes are unmet medical needs of patients with myelodysplastic syndromes.