Why is Onconova Therapeutics (ONTX) Falling After Gaining Earlier This Year?

The Onconova Therapeutics (NASDAQ: ONTX) stock has had a bit of an up-and-down year so far. While the stock did manage to hit a peak recently, it has since declined from that point by as low as 45%.

On the other hand, it is also necessary for investors to note that the Oconova stock has had a strong enough rally this year to be still up by 50% so far in 2021. The company is involved in the development of novel products meant for treating cancer patients.

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While there has been no recent news about the company, it might be a good idea to take a look at development from back in February. Back on February 24, the company announced that it received a notification from Nasdaq which stated that the Onconova stock regained compliance with regards to the minimum bid price requirement rule. The company had until April 5 this year to regain compliance.

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.