Morning Buzz: Onconova (ONTX), Fairchild Semiconductor (FCS), TherapeuticsMD Inc (TXMD), Galapagos NV (GLPG)

Shares of Onconova Therapeutics, Inc. (ONTX) are spiking by more than 45% to $1.90 in pre-market trading on Tuesday following the co.’s presentation of positive data from Phase 2 combination trial of oral Rigosertib and Azacitidine at the 57th American Society of Hematology Annual Meeting in Orlando, Florida.

Fairchild Semiconductor Intl Inc (FCS) – The company confirms receipt of an unsolicited proposal to be acquired for $21.70 a share in cash. Last month, Fairchild entered into a deal under which a subsidiary of ON Semiconductor Corp (ON) agreed to acquire all of the outstanding shares of Fairchild common stock for $20/shr in cash. Fairchild’s board said it is in consultation with its legal advisors and will carefully review the proposal.

FCS climbed 7.42% to $20.97 in pre-market trading.

TherapeuticsMD Inc (TXMD) shares surged 32% to $8.62 in pre-market trading after the company had its target raised to $18 from $15 at Jefferies suggesting a potential upside of nearly 176% from the company’s previous $6.53 close.

Galapagos NV (ADR) (GLPG) shares rallied nearly 16% to $55.50 in pre-market trading after dropping 2.24% on Monday.

In the past 52 weeks, shares of Mechelen, Belgium-based biotech firm have traded between a low of $38.04 and a high of $65.70. Shares are up 11.53% since the beginning of the year.

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