Australia's Prescient Therapeutics jumps on getting orphan drug designation by FDA

Prescient Therapeutics

09/03/2023 01:17

** Shares of Prescient Therapeutics Ltd  PTX.AX  rise as
much as 28.9% to A$0.125, set for best day since May 9, 2022, if
gains hold 
    ** Clinical-stage oncology co says U.S. Food and Drug
Administration granted orphan drug designation (ODD) for its
drug 'PTX-100' for treatment of T-cell lymphomas 
    ** Co says ODD provides guaranteed market exclusivity of
seven years from granting of regulatory approval and a waiver of
Prescription Drug User Fee Act (PDUFA) fees for orphan drugs
    ** Stock at its highest level since Jan. 31
    ** PTX is down ~28% this year as of last close
 

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