Onconova slips after all-stock merger with Trawsfynydd

seekingalpha04-03

Onconova Therapeutics (NASDAQ:ONTX) traded lower on Tuesday after the company acquired privately-held biotech Trawsfynydd Therapeutics, in an all-stock transaction following a definitive merger ...

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The deal also includes a non-transferable contingent value right  that will enable Onconova investors to benefit from proceeds related to future transactions involving the company’s cancer candidates, narazacic","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CVR.AU":"CAVALIER RESOURCES LTD","BK4007":"制药","BK4161":"工业机械","BK7095":"多种金属与采矿","CVR":"芝加哥机械"},"translate_title":"Onconova在与Trawsfynydd的全股票合并后下滑","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CVR":1,"CVR.AU":1,"ONTX":1},"content_text":"Onconova Therapeutics (NASDAQ:ONTX) traded lower on Tuesday after the company acquired privately-held biotech Trawsfynydd Therapeutics, in an all-stock transaction following a definitive merger agreement. The companies announced that the combined entity, renamed “Traws Pharma, Inc.” and led by incoming CEO Werner Cautreels, will start trading on Nasdaq under the new ticker symbol “TRAW” on Wednesday. TRAW’s upcoming milestones include the beginning of Phase 2 studies for its lead antiviral programs for influenza and COVID-19 in H2 2024. In connection with the deal, Traws plans to raise $14M as part of a private placement with healthcare-focused investment firms OrbiMed and Torrey Pines. Post-transaction, Traws projects more than $28M of cash and cash equivalents including its existing cash.  The deal also includes a non-transferable contingent value right (CVR) that will enable Onconova investors to benefit from proceeds related to future transactions involving the company’s cancer candidates, narazaciclib, and rigosertib.  More on Onconova Therapeutics  Seeking Alpha’s Quant Rating on Onconova Therapeutics Historical earnings data for Onconova Therapeutics Financial information for Onconova Therapeutics","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2424407835"}