By Colin Kellaher

 

Shares of C4 Therapeutics Inc. rose sharply in premarket trading Thursday after the clinical-stage biopharmaceutical company received U.S. Food and Drug Administration approval for a Phase 1/2 study of its CFT1946 protein degrader targeting BRAF-V600 mutant solid tumors.

The Watertown, Mass., said it expects to launch the study in cancers including lung, colorectal and melanoma by the end of the year.

C4 said mutant BRAF-V600 accounts for about 50,000 cancer diagnoses a year.

C4 shares, which closed Wednesday at $8.99, were recently up 7.5%, to $9.66, in premarket trading.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

September 29, 2022 07:41 ET (11:41 GMT)

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