Ambrx Biopharma rises on FDA's 'fast-track' tag for prostate cancer drug

Ambrx Biopharma

19/07/2023 14:39

** Shares of drug developer Ambrx Biopharma  AMAM.O  up 1.2%
at $15.9 
    ** AMAM says U.S. Food and Drug Administration has granted
its "fast-track" status to co's experimental prostate cancer
drug, ARX517
    ** Co is testing ARX517 in an early-to-mid-stage study in
patients suffering from a treatment-resistant form of prostate
cancer that can spread to other parts of the body 
     ** AMAM's experimental drug is an antibody drug conjugate
which targets and kills tumor cells while sparing healthy cells
    ** FDA's fast-track status is intended to expedite review of
drug candidates being developed to treat serious conditions
    ** As of last close, AMAM has risen ~76% since debut on
Nasdaq in March 2023 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))