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 dean.seal@wsj.com
(END) Dow Jones Newswires
February 08, 2024 17:06 ET (22:06 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst