Onconova Therapeutics (ONTX) just unveiled an announcement.
On April 1, 2024, Onconova Therapeutics, Inc. completed a strategic acquisition of Trawsfynydd Therapeutics, Inc., resulting in a complex two-step merger process that concluded with Trawsfynydd becoming a wholly owned subsidiary of Onconova. The deal, designed to be tax-free for U.S. federal income tax purposes, led to Onconova issuing common and Series C Preferred shares to Trawsfynydd’s shareholders and assuming outstanding stock options, with the company’s name changing to Traws Pharma, Inc. Following the merger, significant board and executive leadership changes were implemented, including appointing new executives and accepting resignations from former board members. The company’s common stock began trading under a new ticker symbol, “TRAW”, marking a new chapter for the merged entity.
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