IQ-AI Shares Rise on FDA Orphan Designation for Pediatric Brain-Cancer Treatment
By Joe Hoppe
IQ-AI Ltd. shares rose Thursday after the company said it has been granted orphan drug designation status from the U.S. Food and Drug Administration for its treatment for pediatric brain cancer.
Shares at 0740 GMT were up 0.35 pence, or 13.5%, at 2.95 pence.
The U.K. medical-software and services company was granted the designation for gallium maltolate for adults in February, and the FDA has since confirmed the designation applies to all patients with glioblastoma multiforme.
Despite being the most common and aggressive primary brain tumor in adults and children, there are currently no effective treatments for pediatric glioblastoma.
Oral gallium maltolate recently demonstrated significant survival benefits in a pre-clinical study for pediatric brain cancer. The promising results, along with easy administration through a capsule, make gallium maltolate an attractive treatment option for both pediatric and adult patients, the company said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
July 13, 2023 04:12 ET (08:12 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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