U.S. Markets open in 5 hrs 37 mins

Aptorum Shares Rise After FDA Orphan Drug Tag For Repurposed Compound For Pediatric Cancer

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

The FDA has granted Orphan Drug Designation to Aptorum Group Limited (NASDAQ: APM) SACT-1, a repurposed small molecule compound for Neuroblastoma.

  • Aptorum Group plans to file an Investigational New Drug Application (IND) to commence a Phase 1b/2a trial for SACT-1 in 2022.

  • Neuroblastoma is one of the most prevailing solid tumor cancers in children, representing 8% - 10% of all childhood tumors, accounting for around 15% of all cancer-related deaths in the pediatric population.

  • Aptorum received its first US patent regarding SACT-1 repurposed drug for various cancers earlier this week.

  • The SACT-1 invention provides a composition and method for treating or preventing the growth of cancerous tumors and/or delaying the onset of cancer from tumor-initiating cells.

  • Price Action: APM shares are up 30.3% at $1.59 during the premarket session on the last check Thursday.

See more from Benzinga

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.