Marker Therapeutics, Inc. MRKR shares are trading higher by 18.7% to $5.15 Monday morning after the company announced the European Medicines Agency granted MT-401 an Orphan Drug Designation.
The drug is for the treatment of patients with acute myeloid leukemia (AML). Per Marker, AML is a life-threatening disease with high relapse rates and poor outcomes after hematopoietic stem cell transplant (HSCT).
MT-401 is designed to target multiple tumor-associated antigens and is currently being evaluated in a Phase 2 clinical trial for relapsed AML post-HSCT. Orphan Drug Designation provides regulatory support, including market exclusivity, reduced fees and scientific advice from the EMA.
See Also: Why Iovance Biotherapeutics (IOVA) Shares Are Exploding Higher
Marker Therapeutics meanwhile says the company is committed to advancing MT-401 development and approval to address the significant unmet needs in AML treatment.
According to data from Benzinga Pro, MRKR has a 52-week high of $0.67 and a 52-week low of $6.60.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
