Companies · Biotechnology

Oncternal Therapeutics, Inc.

San Diego · Biotechnology

Diligence memoA one-page analyst read on Oncternal Therapeutics, Inc. — recommendation, valuation, rhythm, risks.
$186.1M
Total raised · real
14
Rounds
3.8×
Latest step-up
Top 5%
Sector rank · raised
Series C
Latest stage · inferred · Mon Dec 14 2020 00:00:00 GMT+0000 (Coordinated Universal Time)

Oncternal Therapeutics, Inc. looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the biotech sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.11× the median modeled value of Series C Biotechnology companies in 2019–2021 (120 peers) — value vs value, same stage and era.
Dormant
  • Last raise 5.5 yr ago; this sector typically re-raises about every 14 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Biotechnology

Oncternal Therapeutics, Inc. is one of 4293 Biotechnology companies tracked from San Diego. By capital raised it ranks among the largest (ahead of 96% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

pharma

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
4
Investors (latest)
2013
Year incorporated
2020-12-14
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$500M$1.0B$1.5B$2.0BSeed · 2014-02-19 Raised $3.1M (real) Modeled valuation $137M (est)Seed2014Series B · 2014-03-06 Raised $21M (real) Modeled valuation $844M (est)Series B · 2014-03-06 Raised $21M (real) Modeled valuation $844M (est)Series B2014Series C · 2014-11-14 Raised $43M (real) Modeled valuation $1.8B (est)Series A · 2015-07-27 Raised $6.1M (real) Modeled valuation $220M (est)Series A2015Series C · 2015-07-27 Raised $18M (real) Modeled valuation $732M (est)Seed · 2015-07-27 Raised $3.7M (real) Modeled valuation $165M (est)Seed2015Seed · 2015-07-27 Raised $3.1M (real) Modeled valuation $140M (est)Series A · 2015-07-27 Raised $11M (real) Modeled valuation $408M (est)Series A2015Series C · 2016-05-27 Raised $13M (real) Modeled valuation $538M (est)Series C · 2016-06-22 Raised $150K (real) Modeled valuation $6.1M (est)Series C2016Series C · 2017-09-12 Raised $6.9M (real) Modeled valuation $281M (est)Series C · 2017-09-29 Raised $48M (real) Modeled valuation $2.0B (est)Series C2017Series C · 2018-11-07 Raised $17M (real) Modeled valuation $696M (est)Series C · 2020-05-19 Raised $2.8M (real) Modeled valuation $115M (est)Series C2020Series C · 2020-07-17 Raised $3.5M (real) Modeled valuation $139M (est)Series C · 2020-09-01 Raised $383K (real) Modeled valuation $15M (est)Series C2020Series C · 2020-11-20 Raised $1.7M (real) Modeled valuation $60M (est)Series C · 2020-12-14 Raised $6.5M (real) Modeled valuation $223M (est)Series C2020Cumulative $232M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$3.1M · 2014
Series B$21.3M · 2014no Series A on file
Series B extension$21.3M · 2014
Series C$43.4M · 2014
Bridge · Series C-stage$6.1M · 2015smaller follow-on
Series C extension$17.9M · 2015
Bridge · Series C-stage$3.7M · 2015smaller follow-on
Bridge · Series C-stage$3.1M · 2015smaller follow-on
Bridge · Series C-stage$11.3M · 2015smaller follow-on
Series C extension$13.1M · 2016
Series C extension$150K · 2016
Series C extension$6.9M · 2017
Series C extension$48.5M · 2017
Series C extension$17.0M · 2018
Series C extension$2.8M · 2020
Series C extension$3.5M · 2020
Series C extension$383K · 2020
Series C extension$1.7M · 2020
Series C extension$6.5M · 2020

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 80%.

Modeled valuation trajectory
$222.9M
Base estimate est.
$20.0M
Conservative case
$551.7M
Upside case
$43.1M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Seed · modeled $137.2M · 2014-02-192014Series B · modeled $844.3M · 2014-03-06Series B · modeled $844.3M · 2014-03-06Series C · modeled $1.8B · 2014-11-14Series A · modeled $219.9M · 2015-07-27Series C · modeled $732.1M · 2015-07-27Seed · modeled $164.7M · 2015-07-27Seed · modeled $139.9M · 2015-07-27Series A · modeled $407.8M · 2015-07-27Series C · modeled $538.0M · 2016-05-27Series C · modeled $6.1M · 2016-06-22Series C · modeled $280.6M · 2017-09-12Series C · modeled $2.0B · 2017-09-29Series C · modeled $696.3M · 2018-11-07Series C · modeled $115.3M · 2020-05-19Series C · modeled $139.3M · 2020-07-17Series C · modeled $14.7M · 2020-09-01Series C · modeled $59.6M · 2020-11-20Series C · modeled $222.9M · 2020-12-142020
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
62%
Survival probability
46% low · 72% high
1.46×/yr
Annual markup
1.68×/yr upside case
5.5 yr
Elapsed time used
5.5 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
5 mo
Avg between rounds
$27.3M/yr
Capital velocity
12.4 yr
On record since
2014
First round
19
Rounds on file
How it compares to the market

Benchmarked against 4293 companies in Biotechnology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 26× above median
This company$186.1M
Sector median$7.2M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.1× of median
This company$6.5M
Sector median$46.5M
Modeled value — vs sector median (estimate, all stages) 3.5× above median
This company$222.9M
Sector median$64.2M

Raised more than 96% of sector peers (real $). Modeled value above 73% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #115 of 120.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Stem Biotech LLC · Series C Raised $100.0M · modeled $4.1B (est)Kinnate Biopharma Inc. · Series C Raised $172.5M · modeled $3.9B (est)Arcutis Biotherapeutics, Inc. · Series C Raised $94.5M · modeled $3.9B (est)DNA Research INST LLC · Series C Raised $94.5M · modeled $3.7B (est)M3 Biotechnology, Inc. · Series C Raised $107.3M · modeled $3.6B (est)Checkmate Pharmaceuticals, Inc. · Series C Raised $185.1M · modeled $3.5B (est)Black Diamond Therapeutics, Inc. · Series C Raised $146.3M · modeled $3.5B (est)Finch Therapeutics Group, Inc. · Series C Raised $179.9M · modeled $3.5B (est)Shattuck Labs, Inc. · Series C Raised $165.4M · modeled $3.4B (est)TScan Therapeutics, Inc. · Series C Raised $123.3M · modeled $3.3B (est)Edgewise Therapeutics, Inc. · Series C Raised $120.1M · modeled $3.3B (est)Miragen Therapeutics, Inc. · Series C Raised $197.8M · modeled $3.3B (est)Oncternal Therapeutics, Inc. (this company) Raised $186.1M · modeled $222.9M (est)Oncternal Therapeutics, Inc.
CompanyStageRaised · realValue · estvs peer med.
Stem Biotech LLCSeries C$100.0M$4.1B2.11×
Kinnate Biopharma Inc.Series C$172.5M$3.9B2.02×
Arcutis Biotherapeutics, Inc.Series C$94.5M$3.9B1.99×
DNA Research INST LLCSeries C$94.5M$3.7B1.88×
M3 Biotechnology, Inc.Series C$107.3M$3.6B1.88×
Checkmate Pharmaceuticals, Inc.Series C$185.1M$3.5B1.79×
Black Diamond Therapeutics, Inc.Series C$146.3M$3.5B1.79×
Finch Therapeutics Group, Inc.Series C$179.9M$3.5B1.78×
Shattuck Labs, Inc.Series C$165.4M$3.4B1.75×
TScan Therapeutics, Inc.Series C$123.3M$3.3B1.72×
Edgewise Therapeutics, Inc.Series C$120.1M$3.3B1.70×
Miragen Therapeutics, Inc.Series C$197.8M$3.3B1.69×
Oncternal Therapeutics, Inc. this companySeries C$186.1M$222.9M0.11×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$3.1M2014-02-19$15.4M$137.2M85%
Series B$21.3M2014-03-06$118.2M$844.3M85%
Series B$21.3M2014-03-06$118.2M$844.3M85%
Series C$43.4M2014-11-14$289.4M$1.8B85%
Series A$6.1M2015-07-27$27.7M$219.9M90%
Series C$17.9M2015-07-27$119.2M$732.1M90%
Seed$3.7M2015-07-27$18.5M$164.7M85%
Seed$3.1M2015-07-27$15.7M$139.9M85%
Series A$11.3M2015-07-27$51.3M$407.8M90%
Series C$13.1M2016-05-27$87.6M$538.0M85%
Series C$150K2016-06-22$1.0M$6.1M85%
Series C$6.9M2017-09-12$45.7M$280.6M90%
Series C$48.5M2017-09-29$323.3M$2.0B90%
Series C$17.0M2018-11-07$113.3M$696.3M90%
Series C$2.8M2020-05-19$18.8M$115.3M90%
Series C$3.5M2020-07-17$23.0M$139.3M90%
Series C$383K2020-09-01$2.6M$14.7M90%
Series C$1.7M2020-11-20$11.3M$59.6M90%
Series C$6.5M2020-12-14$43.1M$222.9M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$3.1M2014-02-19
    • First recorded raise — entered as Seed.
    • 26 investors on this round.
  2. Series B$21.3M2014-03-06
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 6.9× larger than the prior — scaling up.
    • 2 investors on this round.
  3. Series B$21.3M2014-03-06
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • Switched to Rule 506(c) (was Rule 506(b)).
    • 2 investors on this round.
  4. Series C$43.4M2014-11-14
    • Raised 8 mo later, in step with the ~14 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 9 investors on this round.
  5. Series A$6.1M2015-07-27
    • Raised 8 mo later, in step with the ~14 mo sector norm.
    • Round 7.1× smaller than the prior — bridge or down round.
    • 72 investors on this round.
  6. Series C$17.9M2015-07-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 2.9× larger than the prior — scaling up.
    • 111 investors on this round.
  7. Seed$3.7M2015-07-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 4.8× smaller than the prior — bridge or down round.
    • 39 investors on this round.
  8. Seed$3.1M2015-07-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 30 investors on this round.
  9. Series A$11.3M2015-07-27
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 3.6× larger than the prior — scaling up.
    • 95 investors on this round.
  10. Series C$13.1M2016-05-27
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 26 investors on this round.
  11. Series C$150K2016-06-22
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round 87.6× smaller than the prior — bridge or down round.
    • 3 investors on this round.
  12. Series C$6.9M2017-09-12
    • Raised 15 mo later, in step with the ~14 mo sector norm.
    • Round 45.7× larger than the prior — scaling up.
    • 121 investors on this round.
  13. Series C$48.5M2017-09-29
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round 7.1× larger than the prior — scaling up.
    • 8 investors on this round.
  14. Series C$17.0M2018-11-07
    • Raised 13 mo later, in step with the ~14 mo sector norm.
    • Round 2.9× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  15. Series C$2.8M2020-05-19
    • Raised 18 mo later, in step with the ~14 mo sector norm.
    • Round 6.0× smaller than the prior — bridge or down round.
    • 7 investors on this round.
  16. Series C$3.5M2020-07-17
    • Came back fast: 2 mo vs the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 12 investors on this round.
  17. Series C$383K2020-09-01
    • Came back fast: 2 mo vs the ~14 mo sector norm.
    • Round 9.0× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  18. Series C$1.7M2020-11-20
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 4.4× larger than the prior — scaling up.
    • 4 investors on this round.
  19. Series C$6.5M2020-12-14
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round 3.8× larger than the prior — scaling up.
    • 4 investors on this round.
Intelligence
2021 ~Q2
Modeled next raise · ~5mo cadence
$19.4M
Modeled next size est.range $12.6M$31.0M
3.8×
Last step-up
$27.3M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
David F Hale15 other2014-02
Cam L. Garner10 other2014-02
Scott L. Glenn8 other2014-02
David B. Johnson5 other2015-07
Lauren G. Otsuki2 other2015-07
Mitchell S. Steiner2 other2014-03
William R. LaRue2 other2018-11
Cam R. Gallagher1 other2018-11
Richard B Vincent1 other2017-09
Barrington J.A. Furr2014-03
Brian B. Lannutti2015-07
Brian F. Lannutti2016-06
Cam B. Gallagher2015-07
Cam F. Garner2016-05
Charles G. Theuer, M.D.2018-11
Charles R. Theuer2020-05
Cooper B. Collins2017-09
Cooper R. Collins2018-11
Dana B. McGowan2015-07
Dana F. McGowan2016-05
Daniel G. Kisner, M.D.2020-05
David F. Johnson2016-05
Diane C. Young, M.D.2017-09
Frank B. Hsu, M.D.2020-05
Registry & provenance

Oncternal Therapeutics, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1600987
SEC CIK
2013
Incorporated
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Frequently asked
How much funding has Oncternal Therapeutics, Inc. raised?
Oncternal Therapeutics, Inc. has raised approximately $186.1M in disclosed capital across 14 recorded financing rounds, aggregated from public filings.
What is Oncternal Therapeutics, Inc.'s estimated valuation?
Provath's modeled valuation for Oncternal Therapeutics, Inc. is approximately $222.9M (modeled range $20.0M–$551.7M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Oncternal Therapeutics, Inc. at?
Oncternal Therapeutics, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Mon Dec 14.
What does Oncternal Therapeutics, Inc. do and where is it based?
Oncternal Therapeutics, Inc. operates in the Biotechnology sector, based in San Diego.
Explore related

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