Yesterday’s closing price of Oncology Pharma Inc (OTCPink:ONPH) was $9.2000, up 18.86%. THE ONPH stock volume stood at 327.99K, compared to its average weekly volume of 200.15K. Upon providing investors with an update, ONPH stock soared.
What has ONPH shared?
As part of its current research and development program, Oncology Pharma develops therapeutics for oncology. The Advisory Board of ONPH, which is comprised of world-class professionals, keeps the Company at the forefront of cancer research, biotechnology, and healthcare.
In this week’s update, Oncology Pharma informed investors of its progress. One of the key steps for ONPH to qualify for NASDAQ’s capital markets tier is engagement with a PCAOB Audit firm.
- ONPH will select the company that will conduct the audit within the next few days after completing the process.
- Additionally, ONPH is actively exploring the scope of further investments and possibly taking a direct equity position in the technology through a licensing agreement with Ribera Solutions (operating as “Connect2Med”).
- The Connect2Med platform is designed to engage patients and improve providers’ clinical trial experiences.
- Providing sponsors, CROs, and sites with a place for leads to live online, Connect2Med connects them with their databases to form an online community.
- Platform users will have a safe, secure space where they can join a closed community that will provide them with trustworthy information and compassionate connections to support them in their clinical trials journey.
- ONPH plans to provide additional updates as they become available.
Following Oncology Pharma’s commitment to continue implementation of its capital formation plan, the company has obtained, received, and segregated all funds required to execute the first phase of the dactinomycin nanoemulsion development project, with the initial tranche being released on the scheduled date.
- For this process, ONPH management deemed it important to hire an experienced team.
- This phase is being conducted by a team with vast experience in drug development, so ONPH is confident that it will be successful.
- The team consists of individuals with a specialty in biotechnology, pre-clinical development, and regulatory approval of a wide range of new medical devices and pharmaceuticals.
- The company has implemented a highly effective corporate culture and quality management infrastructure that adheres to ISO and FDA guidelines.
- Several Quality Systems have been developed and implemented by the team. The ISO (International Organization for Standardization), GMP (Good Manufacturing Practices) and GLP (Good Laboratory Practices) quality systems have been developed and implemented.
- Regulatory applications have also been managed for various manufacturers of medical products.
ONPH going forward:
In order to bring new pharmaceutical products to market, Oncology Pharma (ONPH) pursues a targeted approach that reduces the initial development cost and the time to market new pharmaceutical formulations. In the event that the data demonstrate a safer drug, ONPH will apply to the US FDA for permission to proceed into human clinical trials after submitting the Investigational New Drug application.