Onconova Therapeutics, Inc. Closes $21 Million Public Offering of Common Stock

Onconova Therapeutics

NEWTOWN, PA — Onconova Therapeutics, Inc. (NASDAQ: ONTX) announced the recent closing of its previously announced underwritten public offering.

A total of 5,000,000 shares of its common stock were sold at a public offering price of $4.20 per share. The gross proceeds of the offering to the Company are $21 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, Onconova granted the underwriters a thirty-day option to purchase up to an additional 750,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

Guggenheim Securities is acting as sole book-running manager. Ladenburg Thalmann & Co. Inc. and Noble Capital Markets, Inc. are acting as co-managers for the offering.

The securities described were offered by Onconova pursuant to a shelf registration statement on Form S-3 (File No. 333-237844) which was initially filed by the Company with the Securities and Exchange Commission (“SEC”) on April 24, 2020, amended on Form S-3/A that was filed with the SEC on May 15, 2020, and was declared effective by the SEC on May 18, 2020.

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A preliminary prospectus supplement relating to the offering was filed with the SEC on September 23, 2021, and is available on the SEC’s website at http://www.sec.gov. A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC and is also available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544, or by email at [email protected]

The Company states their not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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