Corvus Pharmaceuticals Shares Rise on Orphan Drug Designation

By Dean Seal

Shares of Corvus Pharmaceuticals jumped after the company said regulators have granted orphan drug designation to its treatment of T cell lymphoma.

The stock was up 10% at $2.20 in aftermarket trading. Shares closed down 3.4% on Thursday.

The clinical-stage biopharmaceutical company said after the bell that the U.S. Food and Drug Administration has granted the designation to soquelitinib, which is expected to advance into a Phase 3 trial for patients with relapsed peripheral T cell lymphoma in the second quarter.

Orphan-drug designation is a special status given to drugs that show promise for potentially treating rare, or orphan, diseases that have fewer than 200,000 cases a year in the U.S.

Write to Dean Seal at [e-mail]

(END) Dow Jones Newswires

02-08-24 1706ET