Australia's Imugene hits 2-week high on FDA orphan status for cancer treatment

Imugene

18/09/2024 05:31

**Shares of clinical-stage immune-oncology co Imugene
 IMU.AX  rise as much as 14.6% to A$0.055; biggest intraday pct
gain since Sept. 2
    ** U.S. FDA gives orphan drug status to co's VAXINA
treatment, aimed at treating cholangiocarcinoma, a form of bile
tract cancer
    ** FDA grants orphan drug status to promote drug development
for rare diseases affecting fewer than 200,000 people in the
U.S. 
    ** Co says orphan status gives it range of incentives
including tax credits, potential grant funding and 7-year market
exclusivity
    ** About 56.7 mln shares change hands vs 30-day avg volume
of about 23.7 mln shares
    **Stock down 54.5% YTD

 (Reporting by Nikita Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))