Onconova Therapeutics(US:ONTX)2025-11-13 12:01Financial Performance - Revenue for the quarter ended September 30, 2025, was zero, compared to $57 thousand for the same period in 2024, reflecting a decline in sales activity [10] - Revenue for the nine months ended September 30, 2025, was $2,790,000, a significant increase compared to $170,000 for the same period in 2024 [27] - The net loss for the quarter was $4.0 million, or a net loss of $0.34 per share, an improvement from a net loss of $8.5 million, or $1.49 per share, in the same quarter of 2024 [12] - The net loss for the nine months ended September 30, 2025, was $16,613,000, a substantial improvement from a net loss of $136,601,000 in the same period of 2024 [27] - The company reported a net loss per share of common stock, basic, of $0.34 for the three months ended September 30, 2025, compared to a loss of $1.49 for the same period in 2024 [27] Expenses - Research and development (R&D) expenses for the quarter totaled $2.3 million, down from $5.1 million in the comparable period in 2024, a decrease of approximately 55% [10] - General and administrative (G&A) expenses for the quarter were $1.7 million, compared to $3.5 million in the same period in 2024, a reduction of about 49% [11] - Operating expenses for the nine months ended September 30, 2025, totaled $13,297,000, down from $137,266,000 in the same period of 2024, indicating a reduction of over 90% [27] - Research and development expenses for the nine months ended September 30, 2025, were $7,108,000, down from $10,989,000 in the same period of 2024, a decrease of approximately 35% [27] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were approximately $6.4 million, down from $21.3 million as of December 31, 2024, indicating a significant decrease in liquidity [7] - Cash and cash equivalents decreased from $21,338,000 on December 31, 2024, to $6,420,000 on September 30, 2025, a decline of approximately 70% [25] - Total assets decreased from $24,962,000 on December 31, 2024, to $12,443,000 on September 30, 2025, representing a decline of approximately 50% [25] - Total current liabilities decreased from $11,533,000 on December 31, 2024, to $7,887,000 on September 30, 2025, reflecting a reduction of about 31% [25] - Total stockholders' equity improved from a deficit of $31,630,000 on December 31, 2024, to $4,545,000 on September 30, 2025 [25] Product Development and Market Opportunities - Ratutrelvir is expected to provide topline data by year-end 2025 from Phase 2 studies, with prior Phase 1 studies showing plasma drug levels maintained four times above the EC90 [4] - The U.S. market opportunity for Ratutrelvir is estimated to be multi-billion dollars, targeting treatment for acute COVID infection and Long COVID [4] - Tivoxavir Marboxil (TXM) is positioned as a potential best-in-class single-dose treatment for bird flu and seasonal flu, with a similar multi-billion dollar market opportunity [3] - The overall response rate for rigosertib in treating recessive dystrophic epidermolysis bullosa associated squamous cell carcinoma was reported at 80%, with complete responses in 50% of evaluable patients [9] Intellectual Property and Acquisitions - Traws Pharma acquired significant intellectual property and assets for $2.6 million, enhancing its antiviral portfolio [8] - The company had a change in fair value of warrant liability resulting in a gain of $26,656,000 for the nine months ended September 30, 2025 [27]