Elevation Oncology Gets Fast Track Designation for Seribantumab to Treat Tumors Harboring NRG1 Gene Fusions
May 25 2022 - 8:11AM
Dow Jones News
By Chris Wack
Elevation Oncology Inc. said Wednesday that the U.S. Food and
Drug Administration has granted fast track designation to
seribantumab to treat tumors.
Seribantumab for the tumor-agnostic treatment of advanced solid
tumors that harbor neuregulin-1 gene fusions is being evaluated in
a Phase 2 study. The initial data from the study will be presented
in June, the company said.
"There are currently no approved therapies that specifically
target NRG1 fusions, and therefore, receipt of Fast Track
designation in a tumor-agnostic setting is a significant step in
addressing this unmet need," said Chief Executive Shawn M.
Leland.
Fast track is an FDA process designed to facilitate the
development and expedite the review of potential therapies that
seek to treat serious conditions and fill an unmet medical need. A
drug candidate that receives fast track designation is afforded
greater access to the FDA for the purpose of expediting the drug's
development, review and potential approval.
Elevation Oncology shares were up 14% to $4.01 in premarket
trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 25, 2022 07:56 ET (11:56 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Elevation Oncology (NASDAQ:ELEV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Elevation Oncology (NASDAQ:ELEV)
Historical Stock Chart
From Apr 2023 to Apr 2024