Onconova soars after raising $77.5M in IPO

Cancer company Onconova Therapeutics Inc. (NASDAQ:ONTX) jumped $4.88 (33%) to $19.88 in its first day of trading on Thursday after raising $77.5 million in an IPO through the sale of a bumped-up number of shares above its proposed price range. Onconova sold 5.2 million shares at $15, which values the company at $309.2 million. Earlier this month, Onconova said it planned to sell 4.6 million shares at $12-$14. With Thursday's move, the company is now valued at $409.8 million . Citigroup; Leerink; Piper Jaffray; and Janney Montgomery Scott are underwriters. ...