On April 3, 2023, Oncternal Therapeutics made a significant announcement regarding its pipeline assets. The company has decided to reprioritize its resources and will close both the Phase 3 study and the Phase 1/2 study of zilovertamab combined with ibrutinib. This decision was made based on the rapidly evolving therapeutic landscape, and the company has projected that its cash runway will support the clinical advancement of two other pipeline assets.

Moving forward, Oncternal will focus on the development of ONCT-808 and ONCT-534. The extended cash runway will enable initial clinical data readouts for both assets. ONCT-808 is a CAR T-cell therapy that targets ROR1 and is designed to treat patients with aggressive lymphomas. ONCT-534, on the other hand, is a novel AR inhibitor intended to help patients with resistant mCRPC.

Previously, Oncternal had agreed with the FDA on a ZILO-301 study design that aimed for regular FDA approval of zilovertamab in an end-of-phase 2 meeting in January 2022. The company also planned to conduct a study called ZILO-302, an open-label companion study of zilovertamab plus ibrutinib. However, due to the changing therapeutic landscape, the company has decided to halt the clinical development of zilovertamab in combination with ibrutinib for patients with hematologic malignancies.

In addition to its research on targeting ROR1 with zilovertamab, Oncternal has announced plans to submit an investigational new drug (IND) application for a ROR1-targeted CAR T-cell therapy, ONCT-808, in mid-2022. This decision is based on the company receiving supportive preclinical data and a pre-IND meeting with the FDA.

ONCT stock, belonging to the Health Technology sector and Pharmaceutical industry, opened at $0.79 on April 3, 2023, the same as its previous close. Throughout the day, the stocks price fluctuated between $0.77 and $0.79, with a volume of 500 shares traded, significantly lower than the average volume of 260,354 shares traded over the past three months.

The market cap of ONCT on April 3, 2023, was $46.1M, with an earnings growth rate of -32.19% in the previous year, -10.12% in the current year, and a projected earnings growth rate of 0.00% over the next five years. The revenue growth rate for ONCT in the previous year was -65.47%, and the P/E ratio was not available.

The price/sales ratio of ONCT was 35.30, and the price/book ratio was 0.74 on April 3, 2023. These ratios indicate that the stock may be overvalued compared to its peers in the industry.

In terms of ONCTs performance relative to its peers in the industry, TCON and ASMB both saw slight increases in their stock prices, while GNPX saw a decrease of -3.29%. BYSI saw the most significant increase of +4.46%.

ONCT is set to report its earnings on May 4, 2023, with an EPS forecast of -$0.22 for the current quarter. The company reported an annual revenue of $1.5M in the previous year, with an annual profit of -$44.2M. The net profit margin for ONCT was -2,964.43%, indicating that the company is not currently profitable.

The lack of available executive information for ONCT and its corporate headquarters in San Diego, California, make it difficult to assess the companys management and leadership. However, based on the available financial data, ONCTs stock performance on April 3, 2023, was not impressive, with no significant change in price and low trading volume. Investors may want to keep an eye on the stocks upcoming earnings report to gain a better understanding of its financial health and future prospects.

, 2023

On April 3, 2023, Oncternal Therapeutics Inc (ONCT) experienced a significant increase in its stock value. The companys share price rose by 733.33%, from 0.78 to 6.50, which was the median target price forecasted by six analysts for the next 12 months. The highest estimate for the stock price was 15.00, while the lowest was 3.50.

The positive outlook for ONCTs stock was driven by the companys recent developments and achievements. ONCT is a clinical-stage biopharmaceutical company that focuses on the development of innovative therapies for the treatment of cancer. The companys pipeline includes several promising drug candidates that target different cancer types.

One of ONCTs most advanced drug candidates is cirmtuzumab, a monoclonal antibody that targets cancer stem cells (CSCs). CSCs are a small subpopulation of cells within tumors that are responsible for cancer progression and resistance to therapy. By targeting CSCs, cirmtuzumab has the potential to improve the efficacy of cancer treatment and prevent relapse.

ONCT recently announced positive results from a phase 1/2 clinical trial of cirmtuzumab in combination with a chemotherapy regimen for the treatment of patients with relapsed or refractory B-cell lymphoma. The trial showed that the combination therapy was well-tolerated and demonstrated promising efficacy, with an overall response rate of 75%.

ONCT also announced that it had entered into a collaboration agreement with a leading pharmaceutical company to develop a novel small molecule inhibitor of the Wnt signaling pathway. The Wnt pathway is involved in the regulation of CSCs and is a promising target for cancer therapy. The collaboration agreement provides ONCT with funding and expertise to advance the development of the drug candidate.

The positive developments and achievements of ONCT have attracted the attention of investment analysts, who have recommended buying the companys stock. The consensus rating among six polled investment analysts has been a buy rating since March, indicating a strong belief in the companys growth potential.

ONCTs financial performance in the current quarter has been mixed. The company reported a loss of $0.22 per share and sales of $260.0K. However, these financial metrics are not necessarily indicative of the companys long-term growth potential, as ONCT is still in the early stages of drug development.

Investors and analysts will be eagerly awaiting the companys next earnings report on May 04, 2023, to gain further insights into ONCTs financial performance and progress in drug development. With a promising pipeline of drug candidates and a strong consensus rating from investment analysts, ONCT is a company worth watching in the biopharmaceutical industry.

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Oncternal Therapeutics Reprioritizes Pipeline Assets and Halts ... - Best Stocks