Elevation Oncology jumps on FDA fast track tag for cancer antibody drug

Elevation Oncology

25/05/2022 17:40

** Shares of cancer drug developer  ELEV.O  rise 14% to
$4.02
    ** ELEV says the U.S. FDA has granted fast track designation
to its experimental drug seribantumab for the treatment of
advanced solid tumors with a rare genomic alteration
 urn:newsml:reuters.com:*:nPn3GJMcna
    ** Seribantumab, which is a monoclonal antibody, is
currently being evaluated in a mid-stage study
    ** The fast track tag is intended to speed up review of
potential therapies that seek to treat serious conditions; the
tag gives companies greater access to the FDA for the drug's
development
    **  Stock down 33% YTD, including session moves

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))