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

January 20, 2022 08:56 ET (13:56 GMT)

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