Why Are TC Biopharm Shares Trading Higher Today

The FDA has granted Orphan Drug designation to TC Biopharm Ltd's TCBP lead product OmnImmune for use in Acute Myeloid Leukemia.
After reviewing the Phase 1b/2a trial results in relapsed/refractory AML patients, the FDA approved the Company's application for Orphan Drug Status.
"We look forward to the advancement of OmnImmune® in the Phase 2b/3 trial and to helping patients with AML in the near future," stated CEO Bryan Kobel.
Also Read: Newly-Listed TC Biopharm Highlights Early Data From Acute Myeloid Leukemia Trial.
The status allows for a seven-year exclusive marketing window post-approval of the drug, certain lowered application fees, and tax incentives.
OmnImmune is an allogeneic unmodified cell therapy consisting of activated and expanded gamma delta T cells.
Phase 2/3 trials will begin enrollment in Q1 of 2022 in the UK, expanding into the US in 2022.
Price Action: TCBP shares are up 32% at $1.32 during the market session on the last check Thursday.