Australia's Radiopharm Theranostics climbs on orphan drug status for cancer treatment

Radiopharm Theranostics

09/09/2022 02:22

** Shares of Radiopharm Theranostics Ltd  RAD.AX  climb as
much as 8.8% to A$0.185, their highest since Aug. 30
    ** Radiopharmaceutical products maker says its DUNP19
technology for treatment of bone cancer has been granted orphan
drug status by the U.S. Food and Drug Administration (FDA)
 urn:newsml:reuters.com:*:nTUECHGDRG
    ** Orphan status is granted by the FDA to encourage
development of drugs for rare conditions 
    ** The designation comes with a seven-year marketing
exclusivity period if the drug is approved, and other benefits
such as tax credits for qualified clinical trials and exemption
form user fee
    ** About 337,500 shares change hands, nearly 1.7 times the
30-day average of 195,400 shares 
    ** Stock had fallen ~57% this year, as of last close

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))