BUZZ-Onconova: Panel recommends co to continue late-stage blood cancer drug study


** Cancer drug developer's shares up as much as 53.16 pct to $2.67 - biggest intraday pct gain in more than 3 months

** Says an independent data monitoring committee (IMDC) recommended co to continue its late-stage study of its lead drug, rigosertib, in patients with higher-risk myelodysplastic syndromes

** IMDC recommends co to increase enrollment by adding 135 patients to the original target to reach a total enrollment of 360 patients

** Myelodysplastic syndromes are a group of cancers in which immature blood cells in the bone marrow do not mature or become healthy blood cells

** In 2014, rigosertib failed to improve overall survival in late-stage trial in high risk myelodysplastic syndrome patients

** Up to Tuesday's close, stock had fallen about 36 pct in the past twelve months (Reporting by Akankshita Mukhopadhyay in Bengaluru)