Genenta Science rises on FDA's "orphan drug" tag for brain cancer drug

Genenta Science SpA

02/03/2023 16:31

** U.S.-listed shares of Italy-based cancer therapy
developer Genenta Science SpA  K5Fy.F   GNTA.O  rise 3.3% to
$6.56
    ** Co says U.S. FDA has granted 'Orphan Drug' tag to its
drug temferon for the treatment of Glioblastoma multiforme (GBM)
    ** GBM is a type of cancer that starts as a growth of cells
in the brain or spinal cord
    ** Orphan drug status is given by the FDA to drugs that
treat rare conditions, and are protected through a series of
government incentives once in market
    ** The drug is currently in an early-to-mid stage trial in
newly diagnosed patients with a type of GBM
    ** Co lost ~50% in 2022

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))