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Onconova Therapeutics Opens at $25- Well Above $15 IPO Price (ONTX)

Onconova Therapeutics (NASDAQ: ONTX) opened for trading at $25.00 per share–well above its IPO price of $15.00. The stock is currently up 46 percent on the day.

The company’s 5.1 million share offering opened for trading Thursday morning and was administered by Citigroup, Leerink Swann, Piper Jaffray, and Janney Montgomery Scott.

Onconova Therapeutics is a biotech company that focuses on developing small molecule drug candidates for the treatment of cancer. It was founded in 1998 and booked $47 million in collaboration revenue for the 12 months which ended March 31, 2013 according to regulatory filings.

[stock-tools exchange="NASDAQ" symbol="ONTX" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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