Australia's Race Oncology rises on FDA designation for leukaemia drug product

Racura Oncology

18/06/2024 02:17

** Shares of Race Oncology  RAC.AX  up 7.7% at A$1.885, on
track for best day since June 6 if current gains hold
    ** Biopharmaceutical co says US FDA granted rare paediatric
disease designation (RPDD) to its RC220 Bisantrene drug product
    ** Says product is used in treatment of acute myeloid
leukaemia (AML) in children
    ** Says RPDD provides eligibility for RC220 to receive 
priority review voucher (PRV) upon marketing approval that can
be transferred or sold to other parties 
    ** Past sales of PRVs have averaged more than $100 mln - co
    ** Stock had more than doubled in value this year, as of
last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))