Onconova Therapeutics Shares Rise 12% On Skin Cancer Treatment Data

Shares of Onconova Therapeutics rose Thursday after the company presented a late-breaking presentation of study data on its treatment for a type of skin cancer.

The stock was up 12% to 77 cents in afternoon trading. Shares are up 19% this year.

The Newtown, Pa.-based biopharmaceutical company presented a late-breaking abstract from its study of rigosertib in patients with recessive dystrophic epidermolysis bullosa, associated with squamous cell carcinoma, a form of skin cancer.

Onconova evaluated four patients treated with rigosertib in an efficacy study, and concluded that preliminary results support the drug as a potential treatment for squamous cell carcinoma in patients with RDEB.

The abstract was presented at the European Academy of Dermatology and Venereology in Berlin.