- The FDA has granted Orphan Drug Designation to Turning Point Therapeutics Inc's TPTX TPX-0022, for gastric cancer, including gastroesophageal junction adenocarcinoma.
- TPX-0022 is a potent inhibitor of the MET tyrosine kinase, and currently, there are no approved MET inhibitors for gastric cancer.
- Benefits of the designation may include the opportunity for accelerated approval, discounts on registration fees, tax credits for qualified clinical trials, and eligibility for seven years of market exclusivity post-regulatory approval.
- Price Action: TPTX shares down 0.63% at $78.09 during the market session on the last check Thursday.
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