Australia's Kazia climbs on U.S. FDA's orphan drug status for cancer drug

Kazia Therapeutics

17/06/2022 04:59

** Shares of Kazia Therapeutics  KZA.AX  up as much as 7.4%
to A$0.795, marking their best intraday session since June 9
    ** Oncology-focused drug maker says the U.S. Food and Drug
Administration (FDA) has awarded 'orphan drug' designation to
co's paxalisib for the treatment of atypical rhabdoid / teratoid
tumors  urn:newsml:reuters.com:*:nFWN2Y30AQ
    ** The designation is accorded to drugs which are considered
promising potential treatments for rare diseases
    ** KZA says FDA will waive fees relating to a future
regulatory filing in AT/RT, saving more than $3 mln if co seeks
approval in this indication
    ** Stock is down 41% this year, as of last close 

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))