Onconova Therapeutics Prices IPO Of 5.17 Mln Shares At $15/Shr

(RTTNews) - Onconova Therapeutics, Inc., (ONTX) said it is pricing its initial public offering of 5,166,667 shares of its common stock at $15.00 per share, before underwriting discounts. All of the shares of common stock are being offered by the company.

In addition, Onconova said it granted the underwriters a 30-day option to purchase up to an additional 775,000 shares of common stock at the same price to cover over-allotments, if any. The shares are expected to begin trading on The NASDAQ Global Market on July 25, under the ticker symbol "ONTX."

The offering is expected to close on July 30, 2013, subject to customary closing conditions.

Citigroup and Leerink Swann are acting as joint bookrunning managers for the offering. Piper Jaffray and Janney Montgomery Scott are acting as co-managers.