Theriva Biologics rises on FDA's 'orphan drug' tag for pancreatic cancer treatment

Theriva Biologics

28/06/2023 11:07

** Shares of therapy developer Theriva Biologics Inc
 TOVX.A  gain 70.37% to $1.41 premarket, top pct. gainer across
U.S. exchanges
    ** Company late on Tuesday said U.S. FDA has granted "orphan
drug" designation to its lead candidate VCN-01 for the treatment
of pancreatic cancer
    ** VCN-01 is being studied in combination with standard of
care chemotherapy in mid-stage trial as a first line therapy for
patients with pancreatic ductal adenocarcinoma
    ** Orphan drug status is given by the FDA to drugs that
treat rare conditions, and are protected through a series of
government incentives once in market
    ** Up to last close, stock up ~81% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))