Corvus Pharmaceuticals Shares Rise on Orphan Drug Designation
By Dean Seal
Shares of Corvus Pharmaceuticals jumped after the company said regulators have granted orphan drug designation to its treatment of T cell lymphoma.
The stock was up 10% at $2.20 in aftermarket trading. Shares closed down 3.4% on Thursday.
The clinical-stage biopharmaceutical company said after the bell that the U.S. Food and Drug Administration has granted the designation to soquelitinib, which is expected to advance into a Phase 3 trial for patients with relapsed peripheral T cell lymphoma in the second quarter.
Orphan-drug designation is a special status given to drugs that show promise for potentially treating rare, or orphan, diseases that have fewer than 200,000 cases a year in the U.S.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 08, 2024 17:06 ET (22:06 GMT)
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