Panbela Therapeutics rises on EMA's 'orphan drug' tag for cancer drug

Panbela Therapeutics

14/12/2022 15:39

** Shares of drug developer Panbela Therapeutics Inc
 PBLA.O  rise 37.5% to 19 cents
    ** Co says European Medicines Agency (EMA) Committee for
Orphan Medicinal Products issued a positive opinion on its
pancreatic cancer drug ivospemin
    ** EMA grants the tag to the drug, which is being studied in
combination with gemcitabine and nab-Paclitaxel in patients with
a type of pancreatic cancer, metastatic pancreatic ductal
adenocarcinoma 
    ** Co says the U.S. FDA had previously granted "orphan drug"
designation to the drug
    ** Co continues to advance the global clinical trial and
aims for interim analysis in early 2024
    ** EMA's orphan designation is assigned to a medicine
intended for use against a life-threatening or chronically
debilitating condition that affect fewer than five in 10,000
persons in the EU
    ** Despite session's gains, stock down ~88% YTD
 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))