Mustang Bio soars on orphan drug tag for blood cancer therapy

Mustang Bio

22/06/2022 17:01

** Shares of Mustang Bio  MBIO.O  soar 17.4% to 73 cents -
set for biggest one-day pct jump in nearly three months
    ** MBIO says the U.S. FDA granted Orphan Drug designation to
MB-106, its experimental CAR T cell therapy for the treatment of
Waldenstrom macroglobulinemia - a cancer which starts in certain
white blood cells  urn:newsml:reuters.com:*:nGNX8xLR06
    ** The designation is meant for drugs that are intended for
the treatment or prevention of rare diseases affecting fewer
than 200,000 people in the United States 
    ** Benefits of the orphan drug tag include a potential seven
years of market exclusivity upon approval of the treatment
    ** Stock has plunged 56% YTD

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