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Twenty four months ago CFO Mark Guerin had a pretty clear notion of what he wanted Onconova\u2019s financial footing to look like during the second half of 2019. However, the question that lingered was whether the plan Guerin and his team were putting in motion had the vigor to overcome the obstacles along the way.

Beginning with a strongly worded May 2017 message from NASDAQ claiming that Onconova\u2019s stockholder equity was no longer sufficient to meet its listing standards. While Guerin\u2019s plan included two new stock offerings and growing the firm\u2019s stockholder equity \u2013 NASDAQ rejected Onconova\u2019s initial response triggering a NASDAQ hearing where Onconova\u2019s plan ultimately received a nod from the stock exchange.

\u201cIt was an arduous task all the way through May of 2018. To do two offerings and raise a total of about $40 million in order to have the cash we needed to get to the end of 2019, and also to have the stockholders\u2019 equity that we needed to retain our NASDAQ listing,\u201d explains Guerin, who says the plan\u2019s success was all the more impressive in light of the stock\u2019s small market cap. In the end, Onconova\u2019s financial footing \u2013 give or take a short stride \u2013 was spot-on with the plan.

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