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%.

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

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.

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.