Home Top Movers Why Early Trades Are Soaring For Oncternal Therapeutics (ONCT) Stock Today?

Why Early Trades Are Soaring For Oncternal Therapeutics (ONCT) Stock Today?

The clinical-stage biopharmaceutical company Oncternal Therapeutics, Inc. (Nasdaq: ONCT) stock is up +4.49% in the early trades today rising to $7.91 as of the writing. Although there has not been any news that could cause the ONCT stock to surge the increase in price could be attributed to the announcement of financial results unveiled by ONCT last week.

Get the hottest stocks to trade every day before the market opens 100% free. Click here now.  

How were the financial results?

At its clinical-stage, Oncternal Therapeutics is dedicated to the discovery, development, and manufacture of novel therapies for the treatment of cancers with critical unmet medical needs. Oncternal’s drug development team targets promising and untapped pathways that could contribute to cancer genesis or progression. The clinical pipeline includes a type I tyrosine kinase-like orphan receptor, Phase 1b clinical trial in combination with paclitaxel for the treatment of women with HER2-negative metastatic or locally advanced, unresectable breast cancer; and cirmtuzumab,


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


Read More

Oncternal Therapeutics reported full-year and fourth quarter 2020 financials last week. Some key figures from the released report are as follows:

  • For the fourth quarter ended December 31, 2020, ONCT’s grant revenue derived from sub awarding a grant from the California Institute for Regenerative Medicine (CIRM) to UC San Diego was $1.6 million.
  • In total, grant revenues were $3.4 million for for full year 2020.
  • In the fourth quarter ended December 31, 2020, operating expenses had reached $4.4 million.
  • Total operating expenses for the full year 2020 were $20.9 million.
  • A total of $3.0 million was spent on R&D for the quarter, and a total of $1.5 million was spent on general and administrative expenses.
  • A loss of $2.6 million was incurred during the first quarter, or a loss of $0.09 per share.
  • 2020 resulted in a net loss of $17.2 million, or $0.85 per share.
  • ONCT had $116.7 million in cash and cash equivalents at December 31, 2020, which the company believes will be sufficient to fund its operations through 2023.
  • Around 48.8 million shares of ONCT’s common stock are outstanding as of December 31, 2020.

    Get the hottest stocks to trade every day before the market opens 100% free. Click here now.  

Oncternal Therapeutics has spared $125 million in 2020 to strengthen its balance sheet and has developed a pipeline of differentiated oncology assets in 2021. With this runway, ONCT should be able to advance its promising programs well into 2023.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Why Is The OPTT Stock Rising Today?

The shares of leading innovative and cost-effective ocean energy solutions provider Ocean Power Technologies Inc. (OPTT) have been trading up 3.54% in early trades...

IHT Stock Has Been Growing During Premarket Session. What Has Driven That Upward Trend?

At the premarket today, shares of InnSuites Hospitality Trust (NYSE: IHT) rose 10.43% to $2.33. The InnSuites stock gained 3.43% last trading day to finish...

In Premarket Session, Why Is SEAC Stock Rising?

Shares of SeaChange International Inc. (NASDAQ: SEAC) are trading up 11.65% to $1.15 in premarket. SEAC stock gained 1.98% to end Wednesday trading session...

Here is why Qualtrics International Inc (XM) stock surged in the after-hours on Wednesday?

Qualtrics International Inc (XM) stock started the Wednesday, April 21, 2021, in a negative mode and lost 0.059% in normal trading session but in...

ZLAB Stock Is On An Upswing Today. Why?

Today's premarket session has seen shares of Zai Lab Limited (NASDAQ:ZLAB) up 6.12% at $160.00. Last trading session, Zai Lab plunged -8.15% to finish...

IHT Stock Has Been Growing During Premarket Session. What Has Driven That Upward Trend?

At the premarket today, shares of InnSuites Hospitality Trust (NYSE: IHT) rose 10.43% to $2.33. The InnSuites stock gained 3.43% last trading day to finish...

Is There Any Reason Why ACTC Stock Is Rising Before The Market Opens Today?

ArcLight Clean Transition Corp. (NASDAQ: ACTC) shares are trading up 7.12% at $17.90 in premarket trade this morning. ArcLight stock gained 15.64% during the...

BNGO Stock Is On An Upswing Today, Why?

The premarket trading price for Bionano Genomics Inc. (NASDAQ: BNGO) was up 5.75% at $6.25. A share of Bionano stock closed at $5.91 last...

Related News

Is There Any Reason Why ACTC Stock Is Rising Before The Market Opens Today?

ArcLight Clean Transition Corp. (NASDAQ: ACTC) shares are trading up 7.12% at $17.90 in premarket trade this morning. ArcLight stock gained 15.64% during the...

BNGO Stock Is On An Upswing Today, Why?

The premarket trading price for Bionano Genomics Inc. (NASDAQ: BNGO) was up 5.75% at $6.25. A share of Bionano stock closed at $5.91 last...

Is This The Reason Behind The SCKT Stock Price Rising After-Hours?

During after-market trading, Socket Mobile Inc. (NASDAQ: SCKT) shares were up 9.99%, trading at $7.6. Socket stock appreciated by 6.31% to close Wednesday's session...

Why Evolus Inc (EOLS) stock turnaround on Wednesday, April 21, 2021?

Evolus Inc (EOLS) stock was performing well on Wednesday. It gained 11.09% in the normal trading session and closed at $11.72 per share. but...

Why Is WBT Stock Rocketing Today?

On the last check this morning, Welbilt Inc (NYSE: WBT) shares rose 21.63% to $19.01 in premarket trading. A price range between $15.1723 and...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get Best Morning Financial Newsletter... 100% Free

Best stocks ideas

Analysts’ Upgrades & Downgrades

Insider Watchlist

Important Earnings

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!...100% Free

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.