Aravive Shares Rise Premarket on FDA Fast-Track Designation for Batiraxcept
30 November 2022 - 12:04AM
Dow Jones News
By Colin Kellaher
Shares of Aravive Inc. moved higher in premarket trading Tuesday
after the clinical-stage oncology company said the U.S. Food and
Drug Administration granted fast-track designation to its lead
program, batiraxcept, in an aggressive form of kidney cancer.
The Houston company said the designation covers batiraxcept for
treatment of patients with advanced or metastatic clear cell renal
cell carcinoma who have progressed after one or two prior lines of
immuno-oncology- and vascular endothelial growth factor tyrosine
kinase inhibitor-based therapies.
The FDA's fast-track program is designed to facilitate the
development and expedite the review of treatments for serious or
potentially life-threatening illnesses with high unmet medical
needs.
Aravive said the fast-track designation is based on data from a
Phase 1b study showing that batiraxcept has the potential to
increase the clinical activity of the cancer drug cabozantinib in
the targeted patient group.
Aravive shares, which closed Monday at $1.42, were recently up
7% to $1.52 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 29, 2022 07:49 ET (12:49 GMT)
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