December 15, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Onconova Therapeutics Inc (NASDAQ:ONTX) shares over potential securities laws violations by Onconova Therapeutics and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Onconova Therapeutics Inc (NASDAQ:ONTX) concerning whether a series of statements by Onconova Therapeutics regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On December 4, 2015, post-market, Onconova Therapeutics Inc announced that the FDA had placed a full clinical hold on the investigational new drug application for briciclib, one of Onconova Therapeutics' secondary clinical-stage product candidates, following a drug product lot testing failure due to visible particulates. Onconova will be required to undertake appropriate remedial actions prior to re-initiating the clinical trial. Onconova Therapeutics Inc said that it previously reported that enrollment in the next cohort of a Phase 1 clinical trial of briciclib was expected to resume upon completion of quality control testing of the drug.

Shares of Onconova Therapeutics Inc (NASDAQ:ONTX) declined to as low as $1.19 per share on December 7, 2015.