Panbela rises on prospects of 'orphan' tag for pancreatic cancer drug

Panbela Therapeutics

19/01/2023 15:29

** Shares of drug developer Panbela Therapeutics Inc
 PBLA.O  rise 12% to $3.8 in morning trade
    ** Co receives notice that the European Commission has
adopted the positive decision from European Medicines Agency's
(EMA) Committee, regarding orphan drug tag for co's pancreatic
cancer treatment ivospemin (SBP-101) 
    ** European Commission grants orphan drug tag in the
European Union, based on a positive opinion issued by the EMA
Committee for Orphan Medicinal Products
    ** EMA's orphan designation brings its holders financial and
regulatory incentives, including a 10-year period of marketing
exclusivity in the EU after product approval
    ** SBP-101 already has a orphan drug status from the U.S.
FDA 
    ** Co to focus on site initiation and enrollment in trials;
expects sites to open by mid-2023
    ** Stock has declined 94% in last 12 months
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))