By Michael Dabaie
Aptorum Group Ltd. shares rose 30%, to $1.59, premarket after the clinical-stage biopharmaceutical company said the U.S. Food and Drug Administration granted orphan drug designation to SACT-1.
The designation is for the treatment of patients with neuroblastoma. Neuroblastoma is one of the most prevailing solid tumor cancers in children, representing 8% to 10% of all childhood tumors, the company said.
Aptorum Group plans to file an investigational new drug application to begin a phase 1b/2a clinical trial for SACT-1 to test the drug in neuroblastoma patients in 2022.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
01-20-22 0856ET