ONTX stock dives 16%, DVAX stock in green after clinical data

Highlights

  • Onconova Therapeutics, Inc. (ONTX) stock shot up nearly 29% to close at US$6.3 on Sep 22. But it was down nearly 16% at 10.40 am ET on Thursday.  
  • Dynavax Technologies Corporation (DVAX) stock is close to its 52-week high of US$20.66 on Thursday. The stock closed at US$18.79 on Sep 22. 
  • Both ONTX and DVAX stocks are seeing traction after their positive clinical data.  

Onconova Therapeutics, Inc. (NASDAQ: ONTX) stock fell 16%, while Dynavax Technologies Corporation (NASDAQ: DVAX) stock gained over 1% on Thursday morning after sharing their positive clinical data. ONTX traded at US$5.29, and DVAX traded at US$19.01 at 10:18 am ET.

Onconova Therapeutics, Inc. 

Onconova is a clinical-stage biopharmaceutical company and develops cancer drugs. The Newtown, Pennsylvania-based company has a market capitalization of US$85 million.

The stock rallied on Sep 22, with a trading volume of 80,134,490 compared to 189,482 a day before. The stock rally comes after Onconova revealed positive results from Phase 1/2a clinical trial for oral rigosertib-nivolumab combination.  

The stock shot up nearly 29% to close at US$6.3 on Sep 22 after the news.

Onconova was founded in 1998. 

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Its revenue was US$57.00 thousand for the June quarter of 2021 compared to US$56.00 thousand for the same quarter a year ago. The net loss was US$(4.23) million against a net loss of US$(7.40) million in the June quarter of 2020. The company’s cash and equivalents increased to US$43.7 million as of June 30, 2021, from US$19.03 million as of December 31, 2020. 

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Trending healthcare stocks: Onconova Therapeutics (ONTX) and Dynavax Technologies (DVAX).

Source – pixabay

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Dynavax Technologies Corporation 

Dynavax is also a biopharmaceutical company and develops various vaccines.

Founded in 1996, the company is based in Emeryville, California. It has a current market capitalization of US$2.18 billion and a forward P/E ratio of 36.84.

On Thursday, the stock was close to its 52-week high of US$20.66. The DVAX stock closed at US$18.79, with a trading volume of 30,508,010 on Sep 22. 

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On Sep 22, the company announced that Clover Biopharmaceutical got positive results from its COVID-19 vaccine candidate that uses Dynavax’s CpG 1018 adjuvant.

The phase 2 and 3 clinical trials were conducted on over 30,000 participants. 

The stock jumped by around 26% on the news Wednesday.

DVAX’s revenue and net income for the June quarter of 2021 were US$52.77 thousand and US$4.47 thousand, respectively. The cash and equivalents were US$129.6 thousand as of June 30, 2021, compared to US$32.07 thousand as of December 31, 2020. 

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Bottomline

The NASDAQ Biotechnology Index gave a 12.50% return YTD. The healthcare sector saw considerable growth this year. However, the Onconova stock fell 25.03% YTD, while Dynavax gained 324.94% YTD. Investors should evaluate the stocks thoroughly before investing.

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