IQ-AI Shares Rise on FDA Orphan Designation for Pediatric Brain-Cancer Treatment
13 July 2023 - 6:27PM
Dow Jones News
By Joe Hoppe
IQ-AI Ltd. shares rose Thursday after the company said it has
been granted orphan drug designation status from the U.S. Food and
Drug Administration for its treatment for pediatric brain
cancer.
Shares at 0740 GMT were up 0.35 pence, or 13.5%, at 2.95
pence.
The U.K. medical-software and services company was granted the
designation for gallium maltolate for adults in February, and the
FDA has since confirmed the designation applies to all patients
with glioblastoma multiforme.
Despite being the most common and aggressive primary brain tumor
in adults and children, there are currently no effective treatments
for pediatric glioblastoma.
Oral gallium maltolate recently demonstrated significant
survival benefits in a pre-clinical study for pediatric brain
cancer. The promising results, along with easy administration
through a capsule, make gallium maltolate an attractive treatment
option for both pediatric and adult patients, the company said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
July 13, 2023 04:12 ET (08:12 GMT)
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