Kinnate rises on FDA's fast track tag for bile duct cancer treatment

Kinnate Biopharma

15/02/2023 15:33

** Shares of cancer drug developer Kinnate Biopharma Inc  KNTE.O  rise 1.35%
to $6.74 
    ** U.S. FDA grants fast track designation for co's investigational
FGFR-inhibiting drug, KIN-3248, for the treatment of patients with a certain
type of bile duct cancer called cholangiocarcinoma (CCA)
    ** Fibroblast growth factor receptor (FGFR) is an enzyme that plays a
crucial role in cell functioning 
    ** FGFR related alterations are identified in ~16% CCA tumors inside liver,
and are early warnings of bile duct cancer which is a rare condition and often
diagnosed when it is advanced
    ** Fast Track tag by FDA facilitates the development process and expedites
review of drugs to treat serious conditions and fulfill an unmet medical need
    ** Stock down ~34% in last 12 months
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))