Faron Pharmaceuticals Leukemia Treatment Gets US FDA Orphan Drug Designation
By Michael Susin
Faron Pharmaceuticals' acute myeloid leukemia treatment Bexmarilimab has received orphan drug designation from the U.S. Food and Drug Administration.
The biopharmaceutical company said Tuesday that the designation will provide clinical development and commercialization benefits.
The company expects to start Phase 2 clinical trials of the treatment in the fourth quarter.
Orphan drug designation is designed to support the development of medicines for rare disorders that affect fewer than 200,000 people in the U.S.
Additionally, the company reported a pretax loss of 13.7 million euros ($14.8 million) for the first half of the year compared with a loss of EUR13.1 million for the same period a year ago.
The loss was affected by a financial expenses which increased to EUR918,000 from EUR430,000.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
August 29, 2023 03:39 ET (07:39 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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