January 17, 2018 / 3:59 PM / 7 months ago

BUZZ-Onconova: Panel recommends co to continue late-stage blood cancer drug study

** Cancer drug developer’s shares up as much as 53.16 pct to $2.67 - biggest intraday pct gain in more than 3 months

** Says an independent data monitoring committee (IMDC) recommended co to continue its late-stage study of its lead drug, rigosertib, in patients with higher-risk myelodysplastic syndromes

** IMDC recommends co to increase enrollment by adding 135 patients to the original target to reach a total enrollment of 360 patients

** Myelodysplastic syndromes are a group of cancers in which immature blood cells in the bone marrow do not mature or become healthy blood cells

** In 2014, rigosertib failed to improve overall survival in late-stage trial in high risk myelodysplastic syndrome patients

** Up to Tuesday’s close, stock had fallen about 36 pct in the past twelve months (Reporting by Akankshita Mukhopadhyay in Bengaluru)

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