Gracell Shares Higher on FDA New Drug App Approval
04 February 2023 - 5:05AM
Dow Jones News
By Sabela Ojea
Shares of Gracell Biotechnologies Inc. jumped Friday after the
company said the U.S. Food and Drug Administration approved its
investigational new drug application to treat a type of cancer
targeting plasma cells.
At 12:35 p.m. ET, shares were up 8% at $2.30.
The China-based clinical-stage biopharmaceutical company said it
can now initiate a Phase 1b/2 clinical trial for its therapeutic
candidate FasTCAR-T GC012F, which targets relapsed or refractory
multiple myeloma.
Relapsed or refractory multiple myeloma occurs when cancer of
the plasma cells returns or doesn't respond to treatment.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 03, 2023 12:50 ET (17:50 GMT)
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