By Stephen Nakrosis

 

Clinical-stage immuno-oncology company ALX Oncology Holdings Inc. on Thursday said it received an orphan drug designation for evorpacept from the U.S. Food and Drug Administration.

ALX Oncology said it received the designation for evorpacept to treat patients with gastric cancer and gastroesophageal junction cancer.

The FDA grants orphan drug status to treatments for rare diseases and the designation qualifies the sponsor of the drug for various development incentives, including tax credits for qualified clinical testing.

Sophia Randolph, the company's chief medical officer, said, "Receiving orphan drug designation from the FDA is an important regulatory milestone for ALX Oncology and reinforces the FDA's recognition of evorpacept's potential to improve clinical outcomes in patients with GC."

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

January 27, 2022 18:28 ET (23:28 GMT)

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