Onconova Therapeutics (ONTX) Has Lost 50% From 52-Week: A Good Buy?

Over the past months, the Onconova Therapeutics (NASDAQ: ONTX) stock had come into sharp focus among investors and recorded considerable gains.

As a matter of fact, the stock hit its highest level in 52 weeks recently, however it has corrected sharply from those levels. The Onconova stock tanked by as low as 50% from its 52 weeks high and in such a situation, investors need to be careful with regards to any kind of investment.

The company is involved in developing products that are meant to fight cancers and that is a market that has a lot of promise considering the potential rewards. Onconova was established back in 1998 and the stock has been trading on NASDAQ for quite a while. The company has also been fairly successful with regards to raising fresh capital and has also been able to push its clinical programs forward. At this point, it might be a good idea to keep the stock on the watch lists.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.

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