Australia's Noxopharm posts record gain on US FDA's orphan drug designation

Noxopharm

04/10/2023 01:01

** Shares of Noxopharm  NOX.AX  up 166.1% at A$0.165, set
for best day ever, if gains hold
    ** Biotechnology co says U.S. Food and Drug Administration
(FDA) has granted Orphan Drug Designation (ODD) status to co's
CRO-67 preclinical drug candidate, for the treatment of
pancreatic cancer 
    ** FDA grants ODDs for drugs designed to prevent, diagnose
or treat rare diseases or conditions
    ** NOX stock at its highest level since Dec 2022 
    ** About 7.5 mln shares change hands, compared with the
30-day average volume of 257,105
    ** With session's gain, stock up 13.8% YTD

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))