Oncternal Therapeutics

About Oncternal Therapeutics

Oncternal Therapeutics, Inc. is a clinical-stage biopharmaceutical company that was focused on developing oncology therapies. Founded in 1997 by James B. Breitmeyer, the company was reincorporated in Delaware in 2003 and is headquartered in San Diego, California. Dr. Breitmeyer, an oncologist with extensive experience in the industry, served as the President and CEO, leading efforts that resulted in numerous product approvals. The company's strategy involved targeting biological pathways implicated in cancer progression, with a focus on hematological malignancies and prostate cancer.

The company's pipeline included several investigational candidates. Zilovertamab, a monoclonal antibody, and ONCT-808, a chimeric antigen receptor T (CAR T) cell therapy, both target Receptor Tyrosine Kinase-Like Orphan Receptor 1 (ROR1). ROR1 is a protein highly expressed in various cancers but minimally in normal adult tissues, making it a key target for cancer therapy. Zilovertamab was being evaluated in clinical trials for mantle cell lymphoma (MCL) and chronic lymphocytic leukemia (CLL). ONCT-808 was developed as an autologous CAR-T therapy for hematologic and solid malignancies. Another product, ONCT-534, is a dual-action androgen receptor inhibitor (DAARI) intended for advanced prostate cancer.

The company's business model relied on advancing its product candidates through clinical trials to gain regulatory approval and eventual commercialization. Revenue generation was anticipated from product sales, collaborations, and licensing agreements. Oncternal operated as a public company, trading on the Nasdaq stock exchange. However, in September 2024, the company announced the discontinuation of its clinical trials and began exploring strategic alternatives, citing disappointing clinical data and a challenging financing environment. This led to a significant workforce reduction to preserve cash.

In a decisive move in June 2025, Oncternal sold its primary assets, the zilovertamab and ONCT-808 programs, to Ho'ola Therapeutics, Inc. The deal included an upfront payment of $3.0 million, with potential future payments of up to $65.0 million tied to development, regulatory, and sales milestones. Following the asset sale, the company's directors and remaining employees resigned, and Craig R. Jalbert, a specialist in corporate dissolution, was appointed as the sole director and officer to oversee the wind-down of operations.