Onconova Therapeutics Announces Pricing of $8.7 Million Underwritten Public Offering

Onconova Therapeutics, (NASDAQ:ONTX) a Phase 3 stage biopharmaceutical company focused on discovering and developing small molecule drug candidates to treat cancer, with a primary focus on Myelodysplastic Syndromes, today announced the pricing of an underwritten public offering of 8,650,000 shares of its common stock and warrants to purchase up to an aggregate of 865,000 shares of Onconova’s Series A convertible preferred stock at a public offering price of $1.01 per share and accompanying Preferred Stock Warrant.

As quoted in the press release:

Onconova intends to use the net proceeds from this Offering to fund the development of its clinical and preclinical programs, for other research and development activities and for general corporate purposes, which may include capital expenditures and funding working capital needs.

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