Alkermes up on FDA's fast track status for cancer treatment

Alkermes

02/08/2021 12:28

** Shares of drug developer  ALKS.O  up 2.2% at $26.4
premarket
    ** U.S. FDA grants fast track designation to the company's
immunotherapy candidate, nemvaleukin alfa, for the treatment of
mucosal melanoma
    ** Mucosal melanoma is a type of cancer that occurs on
mucosal surfaces like respiratory tract, gastrointestinal tract
or genitourinary tract
    ** The "fast track" tag is given to facilitate the
development and expedite the review of potential therapies that
seek to treat serious conditions and fill an unmet medical need
    ** In March, the FDA granted "orphan drug" status to
nemvaleukin alfa  urn:newsml:reuters.com:*:nL4N2L94EM
    ** Up to Friday's close, stock had risen ~30% YTD

 (Reporting by Dania Nadeem)