Biotech Onconova Therapeutics files for a $75 million IPO

By Renaissance Capital,

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Onconova Therapeutics, a biotech focused on developing novel small molecule drug candidates for cancer, filed on Friday with the SEC to raise up to $75 million in an initial public offering. The Newtown, PA-based company, which was founded in 1998, booked $47 million in revenue for the 12 months ended 3/31/2013, primarily from its collaboration agreements with Baxter and SymBio. Onconova Therapeutics plans to list on the NASDAQ under the symbol ONTX. It initially filed confidentially on 5/3/2013. Citi and Leerink Swann are the joint bookrunners on the deal. No pricing terms were disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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